Today, almost 50 per cent of companies have a centralized vendor management group in place, with 11 per cent planning to introduce one this year. Why are we seeing the growth of this unit within the organization? The main drivers for a business to invest in a VMO are to get more value out of existing suppliers and to lower overall costs through better rate negotiations and demand consolidation. Most often, the VMO is either housed in IT or procurement, depending on the business, and consists of two to ten people who are responsible for overseeing the big picture of vendor management.
- Free Whitepaper! The 5 criteria to help you select the right analytics platform for your organization.
- Free Whitepaper! Learn how IT is evolving from producer to enabler, and fostering collaboration around analytics.
- Free Whitepaper! Learn how to create an analytics environment that is governed, scalable and self-serve.