The Vendor Management Process
Our Vendor Management Process can improve the performance of even you best vendor partners and help your company to receive optimal value for your technology dollars. The process involves four phases and TCE can execute all of them--or work to transition the last two to your staff with coaching and training.
Define the business objectives: For new vendors, TCE will partner with you to define and document the performance targets and service level expectations you have for your vendor relationship; for existing ones, TCE will review in-force contractual agreements with the vendor and document and included SLAs.
Create Measurement/Monitoring Tools: TCE will utilize the information garnered in #1 to populate our measurement and monitoring tools. For recurring services, the output of this is an easily interpreted scorecard that shows current and historical performance against the agreed upon service levels and for one-time projects*, the output is an actionable stoplight report that tracks progress of the vendor's deliverables, issues and risks.
Active Management: TCE offers many flexible options for vendor management, ranging from intraday, daily, weekly or monthly engagement with the vendor, depending upon your needs. TCE resources are experienced, senior-level resources with a proven track record of managing vendor partners.
Measure, monitor and improve: TCE will utilize the tools created in #2 to ensure optimal outcomes for the services being delivered by the managed vendors. TCE will provide the stoplight reports and/or scorecards on an agreed upon cadence as defined in the statement of work. In addition, for projects, TCE will provide a post-implementation assessment of the vendor's performance within the project to determine viability for future project work.
* This refers to the case where a vendor is responsible for a portion of a much larger project where TCE managing the vendor's participation in the project, rather than the entire project. TCE also offers a Project Governance service that will oversee and manage all aspects of a project that includes internal and vendor resources.