Vendor & Partner Management to Enable Digital Development and Agility

Challenges

  • Digital strategy calls for a more mature process for handling vendors and partners in the digital universe. This is further propelled by the major transformation and consolidation with impact on (in the future) 100+ existing IT and digital vendors (currently 357).
  • Ability to manage and cooperate professionally with many partners will have a significant impact on Group performance.

Solution

  • Efficient Vendor & Partner Management disciplines and processes within contract, performance, risk, relationship, finance management, data analytics and trending
  • Coordinating internal collaboration through structured governance to ensure leverage of purchasing power
  • Fact-based vendor oversights in relation to spend, performance, risk
  • Streamlined vendor communication to gain increased return on relationships
  • Increase competitiveness among vendors through consistency, simplification and transparency based on specific KPI-structure reflecting overall ambitions and targets (these to be mirrored also by Procurement to secure full alignment)
  • Improved standard contract terms and templates based on best practices.

Benefits

  • Enabling better alignment of the strategic roadmap with most important vendors and potentially facilitate co-development
  • Proactively assess relevant (existing and future) vendors and partners and thereby smoothen the procurement process and enable higher degree of speed, agility and flexibility
  • Increased negotiation power and achieving best possible results.

Company profile: A Baltic Bank aiming for becoming truly digital.

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