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Multiple organizations have set up a Vendor Management Office (VMO) to manage their vendor relationships but are still defining and refining its roles and responsibilities. As vendor management becomes increasingly complex, it becomes critical to articulate a VMO’s key objectives and clearly define its reporting structure. In this executive brief, we explore how implementing a VMO creates value in IT by augmenting existing IT capabilities with value-added services such as vendor oversight, contractual and financial compliance management, performance management, risk mitigation, ongoing vendor communications, and innovation.

Note: Everest Group publishes executive briefs for senior executives from enterprises. These briefs address hot industry topics and particularly challenging issues of the day in an easy to digest format.