Vendors exist to ensure the financial success of your business. Begin with Executive Approach today to get your Vendor Management function established, organized and running efficiently. Whether a department or company of small, medium or large scale, external spend with your vendors can be a giant part of your budget.
Vendor Management Value Creation
Structuring & Governing your vendors in a consistent and methodical approach improves:
- Quality of vendor services
- Budget planning
- Software licensing efficiencies
- Spend control
- Hardware life-cycle planning
- Operational priorities
- Service risk reduction
- Renewal planning
- Continuity & contingency planning
- Vendor prioritization
- Confidence in operational management
The Challenges
Here are just a few of the challenges we help our clients through:
- A large % of budgets are spent on vendors.
- Constant pressure to reduce costs & grow margins weighs heavily on executive team.
- Are we using vendors to perform our business process?
- Are we overpaying for our vendors? How do we know?
- Are vendors putting our business at financial or legal risk?
- Does our next fiscal year budget include the right vendors?
- Are vendors responding immediately to our own business market shift?
- Why aren’t we their #1 client priority?
- Are vendors providing us market advantage or holding us back?
- Should we outsource more or less to improve operations?
- Are we using too many vendors?
- Are they the absolute best vendors in the market for our business success?
- Do we have our vendors under control or are they controlling us?
- Where are our contracts and are they up to date?
Executive Approach
Here’s a peek at our Executive Approach to establishing and refining your Vendor Management business operations:
- The Breakdown – the Vendor Management services to establish
- How to Get There
- Organizational Considerations
- Define detailed Roles & Responsibilities of those Involved
- Launching Vendor Management VM Roles & Responsibilities
- Capability Maturity Model CMM Assessment
- Justifying Fiscal Year Budget for Improving VM Maturity
- Projects to Execute to enable Vendor Management
- Use Contract Templates
- Contract Renewals
- Recurring Business Reviews
- Vendor Satisfaction Survey
Manage your business with an Executive Approach to Vendor Management. Contact Us to begin today at ExecApproach.com
