Sep 11, 2017
From the Shared Services and Outsourcing Institute
Establishing an IT Vendor Management Office (VMO) helps create value and transparency
IT organizations typically must manage a wide variety of suppliers, while adapting to ever-changing marketing conditions. Overseeing this large and varied supplier base poses a number of challenges, particularly in the areas of managing risk, accountability, and extracting maximum value, to name a few.
That is why leading supplier management organizations are more than twice as likely to manage suppliers through a single IT Vendor Management Office (VMO). Because it can help ensure contracts are managed appropriately depending on their nature and complexity, a VMO approach is gaining traction among IT managers.
A VMO can help reduce the number of IT suppliers, shorten the contract creation cycle, and reduce the number of critical issues escalated, while tightening governance, enhancing efficiencies, and lowering costs.
Read the article
Access the related podcast, Today’s vendor management organizations need a super-sized lasso.
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