Now is the Right Time for Vendor Management

In our latest blog post, we reflected on some of the headlines from 2017 that have been driving forces behind the growing adoption of more formalized vendor management. Here are just a few – what a busy year it was!
  • Cybersecurity breaches were at an all-time high, many of which were due to breaches with third-party vendors.
  • The Uniform Guidance Procurement Standards went into effect, impacting more than 30,000 federal grant recipients.
  • Thousands of service providers seeking SSAE (i.e. SOC) certification must now have a formal program for overseeing their vendors (and their vendors’ vendors).
For these (and many other reasons), it’s never been a more important time than now to get serious about vendor management. And throughout 2018 we’ll be sharing everything you need to know to adopt a more formal vendor management framework for your organization.

Stay tuned throughout the year for fresh ideas, expanded content, easy-to-implement tools (and even a new podcast!) that will help you adopt the right strategies and practices to more effectively manage your vendors.

And if vendor management is already on your to-do list, reach out and schedule a conversation to get started now.

VendorCentric is a member of Launch Workplaces in Gaithersburg, MD. Vendor Centric specializes in helping organizations create and maintain disciplined policies, procedures and systems for procurement and vendor management. We provide a comprehensive suite of software and services, and are an authorized consulting partner for VendorRisk, a cloud-based vendor management software.

via VendorCentric

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Becky Randel
Sales Associate, KI