Optimizing Vendor Governance: Defining Value in Vendor Relationships To establish a strategic approach to vendor management, it is crucial to begin by defining the desired outcomes and value you expect from vendor relationships. This definition acts as a guiding principle, facilitating better conversations and communication with vendors regarding your expectations and desired behavior. While theContinue reading “Optimizing Vendor Governance: Defining Value in Vendor Relationships”
Learn how AI-powered CLMS solutions can optimize vendor management, streamline contract categorization, and ensure compliance with data privacy regulations. LinkSquares offers a user-friendly portal with intelligent automation, data categorization, and advanced analytics capabilities to simplify the vendor management process and save time and resources. Discover the benefits of automating vendor management with LinkSquares or another AI-powered solution.
Vendor Management Skills vs. Team Management Skills Many IT leaders struggle with the transition from managing internal delivery teams to managing an external service provider. They can hamstring the vendor and limit their effectiveness by micromanaging, meddling, or nitpicking the way the service is delivered. Managed services agreements include the “Management of the Service.” DuplicatingContinue reading “Vendor Management Skills”
3 Layers of Quality for a Technology Services Firm In evaluating the quality of delivery from a technology services firm, I consider their performance from 3 perspectives. Is the vendor meeting contract terms? Is the vendor meeting business needs? And, is the vendor performing well in context of what’s available in the market?
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”
The Institute for Supply Management invited Banyan to present on Technology Vendor Management in February of 2022.