White paper: Best Practices for Effective & Efficient Vendor Management

Regardless of the business you're in, vendors play a key role in the success of your organisation. If you had asked automobile manufacturers 20 years ago how they selected car parts suppliers, they would have probably said it was firstly based on price, then the supplier location and preference. Customer demands, governance and the rapidly changing and growing IT industry have put a stronger emphasis on safety and quality, so evaluating and selecting the right supplier today has become a much more critical and complex process for each organisation, not just automobile manufacturers. According to Gartner, by 2019, 50% of the external service and solution expenses of global 2000 companies will be through less than 10 strategic vendors in an organisation's vendor ecosystem.

This shows how important vendor management is.

In this white paper you will learn:

  • What Vendor Management is
  • Vendor Management Tools and Mechanisms
  • The successful vendor selection process
  • Benefits of implementing Vendor Management
  • Case study of Financial Services IT outsourcing project

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