6 Steps for Managing Vendor Relationships
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This presentation will provide 6 steps for effectively managing vendor relationships. Although positioned for the customer, this information is vital for professional services firms as well. Listening to our clients’ pain points is the best way to add value and step away from the pack. Whether the product is ERP, CRM, BI or even something like HR services, the needs are similar and these steps will lead to success. This presentation will cover Vendor Selection, Negotiating, Project Management, Setting expectations and priorities, Value-added services and Performance Management. By the end of this presentation you should gain some valuable insight on methods for evaluating and selecting a professional services vendor.
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6 Steps for Managing Vendor Relationships
- 1. Lionshare Software, Inc. Managing Vendor Relationships
- 2. Best Practices for Managing Vendor Relationships Vendor Selection Negotiating Project Management Expectations / Priorities Value-added services Performance Management Lionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 3. Best Practices for Managing Vendor Relationships Vendor Selection Criteria Experience with similar size projects and similar size companies Experience with similar business types (market, channel, technology, etc Stability – Financial health and employee stability Lionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 4. Best Practices for Managing Vendor Relationships Vendor Selection Criteria Cultural fit – Personalities and work-styles Collaborative tools Well-defined project management methodology Post implementation relationship with previous customers Lionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 6. Expenses
- 7. Human elementLionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 10. Team BuildingLionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 11. Best Practices for Managing Vendor Relationships Project Management Matched to your organizations level of competency Managed through a single point of contact Visible methodology Lionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 12. Best Practices for Managing Vendor Relationships Expectations / Priorities Communicate expectations from Executive Sponsor through Core Team members Integrate with your culture Responsibility to Executive Sponsor, Steering Committee and Core Team Lionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 13. Best Practices for Managing Vendor Relationships Vendor Audits Auditing Plan Auditing Process Areas to be Audited Lionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 14. Best Practices for Managing Vendor Relationships Value-Added Services Use vendors experience to help build business case justifications as required. Leverage Best Practices learned from experience with application at other companies Lionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 15. Best Practices for Managing Vendor Relationships Vendor Performance Mgmt Timely Metrics defined as part of selection / negotiation phase Transparency Lionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 16. Best Practices for Managing Vendor Relationships Balanced Scorecard Relationship Cost Management Quality Delivery Lionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 18. Flexibility
- 19. Innovation
- 20. Customer SatisfactionLionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 22. Invoice Accuracy
- 23. Invoice TimelinessLionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 25. Staff Turnover
- 26. Accuracy of Test Cases
- 27. Number of DefectsLionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 29. Responsiveness
- 30. CompletenessLionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 31. Best Practices for Managing Vendor Relationships Vendor Performance Metrics Establish Vendor Management Responsibility Establish the Performance Review Process Maintain a record of all issues and resolutions Lionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 33. Trending Open IssuesEstimate-To-Completion Lionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com
- 34. Best Practices for Managing Vendor Relationships More Information Scott Priestley Email:scott@lionsharesoftware.com Web: http://www.lionsharesoftware.com Twitter: LionshareERP Phone: 888.741.0262 Lionshare Software, Inc. | ERP & CRM | 888.741.0262 | http://www.lionsharesoftware.com