Effective vendor management could be considered as important as any internal technology, service management, or program management capability.

Ultimately, vendor management is critical to a success in outsourcing. It is also a mechanism for validating, or refuting, an outsourcing decision. When pain points reflect deficiencies in personnel, ...

Some institutions use the AHP or a hybrid version to calculate overall scores. For example, these methods can be used with a variety of components of the vendor management program: ...

BPO buyer organizations talk the talk when it comes to governance and include it in their contracts, but many are not walking the walk. Thorough BPO vendor management is inconsistent at best, and this ...

Service-level agreements and key performance indicators are the most common ways to measure a vendor’s performance. While these types of metrics are highly quantitative, they’re fundamentally flawed ...

Management must work to build processes and procedures to ensure that the organization can fully implement a vendor management process that can adequately address privacy and security risk.

Policy A vendor management policy should cover the purpose behind assessing vendors, staff responsibilities, communication channels, and other core components of the overarching program.

For example, one large bank in Northern California saw savings of $350K in less than six months by using the ITM VRM solution to implement an IT vendor management program.

During IT audits we continue to find that both management and the risk function can do a lot more after the signing of the contract to at least ensure that the vendor is fulfilling their signed ...