Vendor Management

Vendor management enables an SMB to manage vendors that provide services to its organization. This discipline can result in better cost control and service excellence and reduce the risks associated with long-term contracts and vendor tie-ins. A vendor management strategy enables leaders to:

• Choose the right vendors based on their budget and organizational requirements

• Negotiate the right contracts

• Determine the ideal number of vendors

• Reduce risk when working with vendors

• Only pay for vendor services they require

• Become part of a vendor management organization that serves their business