Is Your Vendor Management Program Limping Along?
This health check may be just what you need to get back in the pink (and out of the red)
As we move into the second quarter, now is a great time to assess how your vendors are performing during a period when technology is critical to meeting your members’ or customers’ needs. Are you exceeding their expectations or being hindered by poor vendor service?
Take your vendors’ temperature with Maple Street’s quick, easy health check and start building a program that does what vendor management programs were designed for – reducing expenses and improving vendor performance. How many of these questions can you respond “yes” to?
- Does your vendor management program reduce expenses?
- Do you have a process to select and evaluate new vendors or renewals based on expected results?
- Does your vendor management program include management of all vendor contracts, not just select or critical contracts?
- Do you align your strategic plan with your vendors when choosing new vendors or renewing existing ones?
- Does your vendor management program include analysis of risk and risk-shifting in vendor contracts?
- Are reviews of vendor due diligence information easy to do?
- Do you use your own vendor management system to track vendor performance and compliance with SLAs?
- Does your organization understand your vendor management program and their vendor management responsibilities?
Here’s one more question: did you know that if you outsourced your vendor management to Maple Street, you would have answered “yes” to every one of these queries? Our professional team provides all of these services for our clients and more, saving you time while delivering a positive ROI and powering vendor performance.
When you contract with Maple Street, you get the benefits of our revolutionary Vendor Advantage System® – a comprehensive, systems approach to managing vendors, from new vendor selection through ending the vendor relationship. Because you can enter the system at any point, you can contract for what you need now, such as negotiation or compliance, and add other services, like vendor selection and planning, later on. Leveraging the Vendor Advantage System® ensures your vendor management program reduces expenses, improves vendor performance and manages risk. Only Maple Street guarantees you’ll save more than you spend and you’ll pass your exam.
To take our full vendor management health check quiz, click here.
Get laser focused on managing your vendors now!
Request a meeting with a professional vendor management expert today