Why are Benchmarks Important? Benchmarking is a common business practice and sensible exercise to establish baselines, define best practices, identify improvement opportunities (contract rates and terms) and c...
Term Modifications. Not only are most service agreements written where they can be changed and modified at any time, but notification of the changes is your responsibility to keep track of. Who is responsible i...
How can procurement and vendor management become more aligned with, and demonstrate its impact on, the main measures of business success? What impact does procurement make on a company’s sustainable shareholder...
The Benefits of Vendor Risk Management Vendor Risk Management (VRM) is the process of ensuring that the use of service providers and vendors including IT suppliers do not create an unacceptable potential for bu...
Measurable Results: Vendor management allows businesses to gain access to vendor performance tracking, providing spend visibility, cost controls, cost reduction results, document management, process improvement...
Even the smallest increase in revenue or reduction in your expenses can have an impact on your company’s profitability. We would like to share 5 simple steps (some you may have already incorporated into your b...