We create and run your vendor program to reduce vendor risk to information security and strategic value, keeping your team focused on what they do best. Whether you’re new to vendor management or have an established program, we identify value creating vendor opportunities with actionable steps. We call it Vendor Fidelity^®.

Depending on your setup, we look at the different ways to make this work. We can plug-in to your existing process or create one for you. Either way, we start with a best practices workflow that minimizes operational friction and maximizes value and risk.

We are in the background, making a great experience for employees and vendors in a way that everyone knows where things stand. Outstanding communication and collaboration are our hallmark. Your teams will notice us right away for good reasons. We will free-up their time, so they can focus on growing your business and getting their work done.

Each situation is different. We tune the measures of success to what is most important to you. Here are few examples measures of success:

• Risk reduction
• Strategic savings
• Time to decision

There are many more from which to choose. The right ones will get the results you need, and we’ll determine the right ones after our scoping conversation.

It varies, depending on the number of existing vendors, new vendors/month, existing process, etc.. We usually have our team segmented between “clean-up” team for existing vendors and an “onboarding” team for vetting new vendors. Of course, once the clean-up is done, we then focus on the current vendor relationships and decisioning new vendors.

There is a demonstrable ROI. With commercial contract management and risk management together, you achieve what we call Vendor Fidelity^®, where the savings and cost avoidance pay for the service. The value is real and measurable.

No, we start with a best practice set of initial outcomes and workflows. Then we tune it to your environment. That way, you get the best practice and something that uniquely fits your needs.

Typically, we start with a 6-month term. Beyond that it’s usually an annual renewal, although we have clients with longer term agreements.

Once you and your team experience Vendor Fidelity^®, we are confident you won’t return to the old ways. The value is just too substantial.

Procurement employees and teams are responsible for onboarding vendors. They are not trained to screen for risk management, information security, or negotiate favorable high-value terms with vendors. This is particularly the case for services that are technical in nature and need to be aligned to the company strategy or trajectory.

Procurement efforts are often transactional. We manage an ongoing relationship with a vendor to always get high-value outcomes from the vendors, not just when a contract starts or is up for renewal.

If you are viewing vendors as a necessary evil, a transaction to get a service or a product in the door, you are likely missing many opportunities to get more value through the relationship. We put a strategic workflow in-place that manages for outcomes that align to your business.

For example, with a new vendor, we establish how they will work with you, negotiate better terms than you’d get, and manage for risk, information security, and compliance. We’ll also look at your existing vendors and make sure they are getting you the highest value you require.