Seamless, Hassle-Free Strategic Vendor Management Framework For Managed Services


In order to devise an efficient system of strategic vendor management, organizations must first assess the needs of the company, clearly identify any vendor management processes or components that must be in place, and then start designing or configuring those processes in alignment with those needs. It is helpful to create set of criteria for assessing each managed service under consideration. Examining such factors as the vendor’s service offerings, skill sets, performance metrics, qualifications, and customer service levels can provide an informative picture of the best vendors for particular managed service.

Testing and TrainingPerformance tests, delivered to vendors prior to usage, can aid organizations in better understanding the vendor’s suitability. Of course, contracts must be in place if the service is to be utilized. Once the framework has been configured and contracted vendors and services identified, proper training is must. Training should cover the application of the approved vendor management framework, the vendor’s service capabilities, and any additional processes needed to properly implement the vendor.

Continuous MonitoringTo ensure that your managed services are working competitively, organizations must establish ongoing monitoring processes to keep track of the vendor’s performance, rates, and services. Establishing timeline of metrics, such as performance goals and cost objectives for each managed service, can help organizations identify any areas for improvement. It is also useful to establish vetting and re-evaluation of vendors and services at regular intervals.

BenefitsFrom strategic perspective, thoroughly-crafted vendor management framework can prove highly useful. In addition to safeguarding against possible misuse or noncompliance, such framework can also enhance an organizations cost efficiency, service levels, the retention of key vendors, and the introduction of necessary modifications to services.

ConclusionAn efficient and well-structured vendor management framework is key to achieving desirable performance and compliance levels. Organizations must ensure they have the right vendor and services, having properly configured and monitored each of them, and periodically review the services? performance. By beginning with comprehensive assessment of needs, and taking the time for proper evaluation, training, and monitoring, managed services can remain timely, useful asset for any organizations continued success.