Judging The Maturity Of Your Vendor Management Efforts

Two key vectors define the development sophistication of an organization's vendor management efforts. The first is the overall corporate support and governance acumen, and the second is the sophistication of the underlying processes and the level of automation. To help firms judge the quality of their vendor management efforts, Forrester has put together a 20-question self-test across the two axes. Based on how clients score themselves, they fall into three primary groupings: 1) missing processes and weak mandate; 2) incomplete processes and inconsistent governance; and 3) rigorous processes and full executive support.