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


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