We use supplier analytics, ongoing process improvement and constant communication—the fourth and final pillar of our overall approach.
Using dashboards and reporting tools, analytics lets us measure our vendor interactions and evaluate them to maximize performance. Think of this approach as tracking the heartbeat of EMC IT’s vendor relationships—a kind of ongoing checkup to make sure this important system is working as it should. This includes tracking deals to ensure all the right terms and conditions are in place, confirming that what IT spends on them is what was expected, and making sure that each vendor is doing what they are expected to do. (more…)
“That’s not what I wanted”… “You said you were going to seamlessly support my apps”… “I thought you understood what the project was”… PROJECT STATUS: RED
Have you ever heard of the Latin term ‘Caveat Emptor’? It means let the buyer beware. How many times have you heard about someone who purchased a product or service and it is not what they thought they were buying? In countless courtrooms, both large and small, consumers (whether individuals or corporations) are warned about understanding what they are agreeing to, knowing what they are buying and taking responsibility for any agreements they are entering into. In a way – our computer age has made this easier than ever to do. So if this is so easy why are there still many vendor disputes or – worse yet for IT organizations –failed projects?
Contract Execution and Compliance is a key part of EMC IT’s Enterprise Vendor Management approach that can have a huge impact on the ongoing success of the work we produce. It is one of four pillars or focus areas we use to address key components of our IT sourcing. The other three pillars, discussed in other blogs in this series, are Strategic Partnership; Partner Selection and Negotiation; and Analytics, Process and Communication.
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