Navigating The Dizzying World Of SVMO Software Tools

Sourcing and vendor management (SVM) organizations are constantly called upon to increase the value they provide to businesses. To do this effectively, while focusing attention on the digital disruptions that are changing the business environment, they need to streamline execution processes to increase efficiency. While consolidating various SVM organization (SVMO) activities into a collaborative execution model is the starting point, effective use of software is quickly becoming a cornerstone for SVMO value delivery. The use of these software tools can result in faster execution cycles, improved transparency into spending and supplier performance, and better risk mitigation. A key challenge is to understand the processes that need to be integrated, which tools are currently being used, and which solutions are out in the market. This report provides an overview of the major software categories SVM professionals need to understand.