Successful IT Vendor Management 
One of the most time-consuming tasks in day-to-day business operations for CEOs and IT Managers is bringing about a successful process of IT vendor management. These resources might include everyone from software and telecom vendors, Internet Service Providers, to Cloud Service Providers, as well as third party IT contractors.
Not managing your vendors can end up costing you more than it should to operate your IT environment and could even increase your IT security risks.
Here are 8 tips that can help you:
Tip 1 – Start a complete list of your various IT operating vendors.
When you have issues, you want to have all the details for someone ahead of time.
Tip 2 – Cultivate a relationship with vendors.
Proactively reach out to close vendors prior to major changes and they usually will respond sooner.
Tip 3 – Speak your vendor’s language.
When you are working with an IT vendor, it helps to speak their language and use their terminology.
Tip 4 – Manage your vendors to lower your costs.
Regularly review invoices, review scope of services received and possibly renegotiate prices to help lower costs.
Tip 5 – Measure your vendors to ensure they meet their contract terms and service level agreements.
Vendors that meet their contract terms and service level agreements will provide better value to your business.
Tip 6 – Identify the gaps in your IT vendors and their service offerings.
Gaps in your IT delivery can represent risk to your business.
Tip 7 – Manage your IT vendor budget AND hype.
New prospective IT vendors may promise a lot in their sales pitch.
Tip 8 – Avoid spending all of your IT vendor budget.
Be sure to keep some annual budget funds in reserve to cover emergencies that inevitably arise.
Don't miss our webinar on this topic!
Our upcoming webinar, 8 Tips for Successfully Managing Your IT Vendors, will explore these ideas more thoroughly, which will help you ensure you’re getting the most value from your 3rd party IT vendors. Don’t miss it – RSVP today!
This webinar and other helpful resources for CEO's and IT Managers can be found on our YouTube Channel.
Find out more about how we can help with vendor management here on Fulcrum.pro and on our site geared specifically to small business owners, Spotdfw.com. As always, never hesitate to pick up the phone and give us a shout, or shoot us a quick email for guidance. Someone is always here for you.