How Effective Is Your IT Vendor Management Office?

Many vendor management offices (VMOs) are still fighting an uphill battle when it comes to establishing credibility within their organizations. VMOs have tried to market themselves, but ultimately this only takes them so far. For the VMO to ultimately succeed, the key internal stakeholders have to be its strongest advocates, not the VMO itself. As a first step, VMOs need to better understand what the current level of satisfaction is internally for the services they provide. To help VMOs toward this goal, Forrester has assembled a 40-question satisfaction survey designed to gather feedback after each sourcing event across important areas like RFP creation, vendor evaluation, negotiation, contract management, and vendor performance monitoring. Using the results of this survey, VMOs can put a program in place to not only highlight successes but also target specific areas for improvement.