Misalignment between vendor goals and business objectives In theory, what we expect of technology vendors should be in alignment with what the business expects and needs of the technology function. If we work to improve vendor performance, the business should be in a better position to meet financial objectives and serve our stakeholders. Otherwise, whyContinue reading “Misalignment between vendor goals and business objectives”
Author Archives: Steven A Nichols
Perverse Incentives & Technology Vendors
Perverse Incentives & Technology Vendors Despite best intentions, companies often create vendor relationships with incentives which run counter to the best interest of their firm. These perverse incentives effectively reward vendors to deliver poor business value. Perverse incentives can be created through mistakes in the contracting phase. Lopsided terms, intended to empower the client, ironicallyContinue reading “Perverse Incentives & Technology Vendors”
Measuring Technology Vendor Business Value
Measuring Technology Vendor Business Value Technology vendors are a high point of leverage for creating business value, but that value can be difficult to measure. The importance of a vendor may be obvious to everyone, though the exact return on that investment is unknown. Quantifying business value helps technology leaders make good decisions about whichContinue reading “Measuring Technology Vendor Business Value”
ISM Presentation Video
The Institute for Supply Management invited Banyan to present on Technology Vendor Management in February of 2022.
Black Swan Technology Vendors
Black Swan Technology Vendors While most technology vendor relationships deliver linear, incremental value, some rare technology partnerships can have exponential results. IBM and Microsoft, for example, partnered to dominate personal computers. SAP’s partnership with Oracle grew both companies. We call these outcomes Black Swans because they are unanticipated and profound in their impact. Serendipitous BlackContinue reading “Black Swan Technology Vendors”
Technology Vendor Management Webinar
Webinar: Technology Vendor Management Getting the Full Value of the agreement, and starting the Path to Partnership The Institute for Supply Management invited Banyan Business Outcomes LLC to present on Technology Vendor Management in February of 2022. Open to all Feb 3rd 12pm MST ISM Technology Vendor Management Webinar Technology vendors can be key partnersContinue reading “Technology Vendor Management Webinar”
4 Levels of Vendors
How does partnership feel? True Partners provide exponentially more value than vendors who fail to meet contract terms or create brand and security risks. Understand vendor performance and its contributing factors, then take action. Vendor performance is multifaceted and complex. A vendor may be strong in one area and weak in another. What does itContinue reading “4 Levels of Vendors”
Technology Vendor Partnerships
Technology Vendor Partnerships The right collaboration between vendor and client can create strategic advantages that lead to exponential growth, possibly for both parties. It is this black-swan success with its exponential return, that technology partnerships seek to achieve. Vendor partnership is not a status awarded (like a gold star) to recognize a vendor going aboveContinue reading “Technology Vendor Partnerships”