May 13, 2008

CIOs: A Capable Vendor Management Office Is A Requirement

Vendor Management Can't Remain A Hobby In Today's Complex IT Vendor Ecosystems

an introduction by Alex Cullen

Executive Summary (This is a document excerpt)

Firms are ramping up their vendor management capabilities as part of an overall drive to improve IT performance and service quality while managing cost. A vendor management office (VMO) provides the organization focus to institutionalize mature processes for the life cycle of a vendor relationship. A VMO can take a portfolio view of supplier relationships, recognizing the best partnerships and best practices for getting the most out of a partnership. CIOs should charter and build their VMO function, and position it as part of an extended "Office of the CIO."