Best Practice Report

CIOs: A Capable Vendor Management Office Is A Requirement

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

May 13th, 2008
Alex Cullen, null
Alex Cullen

Summary

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."

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