Vendor Contract Management 1 big thing: Guarantee your organization is involved in security tools (phishing, SCCM, vulnerability scanning, network monitoring).

681 words, 2.5 minutes read. By Gerard Blokdyk

Vendor Contract Management 1 big thing: Guarantee your organization is involved in security tools (phishing, SCCM, vulnerability scanning, network monitoring).

The big picture: Lead and/or support sourcing initiatives, including creating and issuing RFPs, building and executing vendor selection scorecards, creating and reviewing contract documents, and vendor implementation.

Why it matters: Develop Third Party Risk engagement models to ensure that third party risk considerations are accounted for in all your organizations major sourcing initiatives.

Be smart: Support microsite management, including vendor management (Third Party Risk Assessments), and contractual management and negotiations; partner with external website developer to schedule updates and enhancements to the website.

What we’re hearing: “Certify your process maintains the policy management system and oversees the coordination of policy revisions and reviews by the Board of Directors and employees., Director of Inventory Management

The backdrop: Invest in the development of scope of work and negotiation of vendor contracts in support of building maintenance, supply requirements, and capital improvement projects.

State of play: Oversee third party risk landscape across R and D, in line with Enterprise expectation, and communicate key changes to the R and D Strategy and Sourcing Capability Director.

How it works: Secure that your workforce builds strong working relationships with vendors and negotiates expedited dates and prices, managing invoice discrepancies and adherence to contracts, working through change orders, and making recommendations to management.

Meanwhile: Make sure the IT Vendor Manager responsibilities which need to be in place include developing and executing the strategies to monitor and improve vendor performance, reduce vendor risk, optimize strategic vendor partnership opportunities and manage the overall vendor lifecycle.

Under the hood: Assure your strategy maintains overall facility management services to ensure maintenance of the facilities and grounds, vendor management to include compliance with all KPI, SLA, contract requirements, completion of vendor scorecards and vendor on-boarding management.

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Go deeper: Secure that your team contributes to the implementation of new policies, practices, appetites and solutions to ensure holistic understanding and management of risks according to industry best practices.

On the flip side: Partner closely with Learning, Development and Performance team to meet the development, performance and training needs of the team and other areas of your organization.

Between the lines: Provide project oversight and project implementation services for security software, hardware, cloud services, and appliances related to cybersecurity products and services installed and/or supported by the team.

What they’re saying: “Provide security consultation and expert guidance for the application development, infrastructure and business teams on requirements for security support during all project phases., Analyst, Reverse & Recommerce Vendor Performance Management

The bottom line: Warrant that your operation defines and reviews technical criteria for vendor evaluations, participates in package selections, and ensures contracts include expected technical outcomes.

What’s next: Interface so that your team manages Resource Management Office staff, Services Partner Coordinators, as well as contractors, staffing departments, and vendors to provide operational support to (internal) clients.

ICYMI: Produce robust governance and oversight reporting (for management, executive, and Vendor Risk Management Sub-committees) and work with the business units to establish key risk indicators to inform reporting on vendor risks.

Look inside the Vendor Contract Management Kanban:

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