Technology Vendor Management
Vendor management is a process that allows organizations to control costs, strengthen service, and reduce risk throughout the process of outsourcing to vendors while extracting the most value from the investment. In IT, this translates to implementing technologies, processes, policies, and procedures that support the needs of the business.
As the number of vendors your enterprise requires increases, it becomes exponentially difficult to manage. You’ll begin to encounter problems you never knew existed. Vendor management streamlines the vendor relationships and upkeep process, thus saving you more time and money.