Multiple organizations have set up a Vendor Management Office (VMO) to manage their vendor relationships but are still defining and refining its roles and responsibilities. As vendor management becomes increasingly complex, it is critical to articulate a VMO’s key objectives and clearly define its reporting structure. In this executive brief, Everest Group explores how implementing a VMO creates value in IT by augmenting existing IT capabilities with value-added services such as vendor oversight, contractual and financial compliance management, performance management, risk mitigation, ongoing vendor communications, and innovation.

Contributors: Everest Group
Categories: Industry Articles, Whitepaper
SRC Type: Compliance, Risk Management, Sourcing Management, Third Party Management