Vendor evaluation and management remains a top priority for most senior IT decision makers. Technologies have added to the pressure of enhancing and improving vendor management skills, be it in terms of negotiation, procurement, evaluation or prescribing Service Level Agreements (SLAs).
Effective vendor management offers a holistic view of an organization’s vendors, allowing the organization to:
Objectively evaluate, assess, and select new vendors and service providers;
Establish and formalize the vendor relationship to create mutually beneficial partnerships;
Infrastructure, facilities and environments
Manage vendor contracts;
Disaster recovery and business continuity planning
Budgets
Projects
Interact and engage with client departments and peers
Support and report to senior executives
Below are some best practices for successful vendor management:
Quick Turnaround Time
Most interim leaders can be placed in an organization within days, not weeks or months. They are quick to take over and analyze departments and groups or jump into any number of projects that may be under way.
Highly Knowledgeable and Skilled
Well skilled and highly qualified interim CIOs will have senior level experience inside mid-size to large client environments. They are effective, knowledgeable, and can produce real value immediately. Interim CIOs are prepared and experienced to perform all strategic functions of a CIO. Working with business leaders and IT staff, they perform the day-to-day functions of a CIO in an organization. Functions can include management of:
Staff
Vendors
Bring about vendor performance and client expectations;
Security and compliance
Recognize, monitor, and manage vendor risk to the organization; and
Ensure that the organization’s vendors deliver high quality service and value.
Bringing an Unbiased, Fresh Perspective
Technology is constantly changing and, to keep up, companies need to have a reliable person helping them make the right choices. Outside observers can often identify problems that other team members may not notice. If the organization is growing, there’s a good chance the IT needs are expanding in proportion. Many larger firms have culture or politics that restrain views. Interim CIOs coming in from the outside are not pressured to extend projects. They often are the ‘fresh perspective’ the organization needs at the right time.
Producing and Meeting ROIs
Interim CIOs provide excellent return on investment and are directly motivated to produce results. They are tasked with delivering results in a brief period of time – something most companies are challenged to do when this void occurs.
Having the required expertise
Your organization receives the expertise of a top-level professional whose real-world experience and unbiased view of best practices and vendors can make your IT department more productive and efficient.
Interim CIO services present a flexible and innovative solution to organizations experiencing an unexpected or planned CIO vacancy. An interim CIO will step into the void, quickly assess the current situation and desired future state, and collaborate with business leaders to implement an IT Strategic Plan, participate in the permanent CIO search and selection process, and execute the transition plan.
A Perfect Arrangement for Small, Mid and Large Sized Businesses
Technology is constantly changing and, to keep up, companies need to have a reliable person help them make the right choices. Outside observers can often identify problems that other members of your team may not notice. If your business is growing, there’s a good chance your IT needs are expanding in proportion. For many small businesses, hiring a full-time CTO or CIO is not financially feasible. Outsourcing this role, however, provides an affordable alternative for businesses that need an expert to drive IT strategy without the significant costs typically associated with executive-level IT professionals.
The Litcom approach
Want to learn more? Litcom has a team of experienced executives ready to perform all strategic functions of a CIO. We specialize in cases where an interim CIO is needed to build the foundation for a smooth transition to a permanent CIO. For more information on our services, please contact us at: info@litcom.ca.