Alsbridge introduces vendor management tool for enterprises

Dallas-based Alsbridge, a consultancy firm that provides data-driven sourcing advisory and services for IT, finance and sourcing executives has introduced a vendor management self-assessment tool for enterprises. This tool claims to facilitate enterprises which are keenly interested in enhancing vendor management competencies. According to Alsbridge, its vendor management methodology, processes and frameworks ensure realization of value and benefits from outsourcing. This results in lower risk and optimized services, allowing client’s governance team to focus on high-value business activities rather than chasing data or validating invoices. David England, an Alsbridge Director who designed the offering said:

Many large global businesses today struggle to assess their vendor management capabilities and lack a clear sense of where they stand relative to their industry peers. This easy-to-use tool provides a starting point for vendor management teams seeking to identify areas of strength, expose gaps and chart an improvement plan.

“While interest is growing, vendor management remains a relatively immature field. Until recently, few enterprises had a dedicated resource. Today, vendor management capabilities continue to vary widely. By providing insight into existing performance, the assessment is designed to help enterprises benchmark their capabilities against industry standards,” added England.

How the tool works

The tool is segregated into six vendor management categories, that are, Contract, Financial, Performance, Relationship, Risk and General Strategy. The tool is specifically designed to assess the Vendor Management and Governance (VM&G) capabilities of an enterprise. As the enterprises comes across many question regarding VM&G capabilities, strength, comparison of industry peers; the tool is designed to provide insight into these and other questions. By assessing the level of maturity across six categories of vendor management, the tool provides a starting point from which to enhance oversight and transparency across the service delivery ecosystem. Once the assessment is complete, Alsbridge gives advice and assistance on developing or maturing VM&G capabilities. “The new self-assessment tool will help our clients address the critical challenges they face in enhancing their vendor management, governance and compliance capabilities. As such, the tool reflects our commitment to addressing our clients’ IT and business operational requirements throughout the service delivery lifecycle,” said Jeff Augustin, Managing Director, Outsourcing Advisory Services, Alsbridge.