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.
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:
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