Vendor Management
A key, but sometimes overlooked aspect, of an outsource deal is the changes needed in the retained function from managing an internal processing operation to managing an external service provider.
If this is not properly addressed, then there are considerable risks that service management issues will not be addressed expeditiously, that contractual rights will be overlooked and that there will be a lack of the required focus on managing end-to-end processes in an integrated fashion. Often there is a need to change the mindset of retained staff, and for them to develop new skills and competencies.
Alsbridge has in-depth experience of all these matters, and has helped many clients with their vendor management arrangements. This has included:
- Developing SLAs that measure the critical aspects of an outsourced service
- Developing SLA management frameworks to measure and report against those SLAs
- Developing performance metrics to measure overall process performance and the achievement of process objectives
- Training retained function staff on key issues in vendor management, and in key aspects of the outsource contract
- Implementing governance and change control mechanisms
- Setting up vendor management teams –job definitions, processes and reporting.
Alsbridge brings an expert but independent perspective to this area, which is necessary to ensure that the client’s interest is safeguarded.
