Establish a Vendor Management Roadmap to Succeed With Autonomous Technologies

As the pace of emerging technologies accelerates, an increasing number of vendors will play a critical role in your organization’s success. But if a chain is only as strong as its weakest link, how can you ensure all vendors – and especially new autonomous technology vendors – are delivering value without adding unnecessary risks? Our comprehensive blueprint provides you with the tools to level up your VMI and help the organization realize strategic value from its vendors.

The potential offered by the rapid technological evolution we call Exponential IT is enormous, but keeping up with the pace of this new paradigm requires an equally adaptable and agile VMI. Every organization will see an increase in the number of new technology vendors they work with so scalable efficiency can keep you from being left behind. Take back the power in vendor negotiations, enable departments to manage their own vendors in line with IT governance, and future-proof your vendor management.

1. Evolving your VMI is not a matter of "if," but "when"

In this age of next-generation technologies, every organization will be forced to evolve their VMI sooner rather than later. Prioritize vendor management now to realize optimal results, or you’ll always be on the back foot with new and existing vendors.

2. Don’t waste resources on the wrong vendors

According to data gathered in our 2024 IT Staff and Spend Benchmarking, up to 62% of your IT spend may be going to vendors. Invest in the vendors that will drive your technology strategy forward, not hold it back. Use autonomous technologies to help mature your VMI, focusing on high-value vendor partnerships that further your organization’s strategic objectives in this world of exponential technologies.

3. Vendor management still needs people

Autonomous technologies can be leveraged to evolve your VMI, but complete technology autonomy of vendor management is unlikely. Optimization and automation can streamline the process, but the value of person-to-person relationships can’t be replaced. Build strong, reciprocal relationships with strategic and valuable vendors to get the most from your vendors.

Use our research to build a roadmap to maturing the people, processes, and technology within your VMI

Our three-phased framework helps IT leaders at every step of the journey to maturing their VMI, so vendor contracts are value-driven, informed by the direction of the organization, and agile enough to keep up with emerging technologies. Our step-by-step guidance, templates, and tools will help you to:

• Define adaptable governance mechanisms that can inform insightful and autonomous decision-making while outsourcing capabilities.
• Identify and build the solutions and skills the VMI needs to integrate or develop to support the changing technology landscape.
• Assess and manage vendor relationships and performance while spending more time optimizing vendor-collaborative relationships.
• Continuously review and refine how the VMI has advanced the organization’s objectives, allowing you to determine new opportunities for innovation.