Today’s technology is ubiquitous and ever-evolving as leading tech companies continue to deliver cutting edge user experiences and improved functionality for their devices and software. With the goal of working smarter, more efficiently, and with increased productivity and flexibility, more and more companies across industries are renewing their interest in investing in information technology (IT).
While executives recognize the role of technology in gaining and maintaining a competitive advantage, purchasing decisions are often made without a full understanding of the organization’s requirements, and the risks associated with IT such as security, backup storage, and recovery, and cost. Worse, these factors are not considered until after an IT project has started, hindering its success. This is where strategic sourcing can lay the foundation of success for an IT initiative.
Strategic Sourcing is a proactive approach to avoiding major pitfalls and creating a more collaborative relationship with your IT suppliers. Strategic Sourcing analyzes an organization’s requirements to identify ideal suppliers for those needs, engages stakeholders for initiative buy-in, negotiates contracts to ensure competitive pricing, analyzes and addresses potential risks, and creates a structure in place for supplier relationship management.
Source One’s partnered webinar with Converge-One Program Management, Managing IT Supplier Risk: The Critical Roles of Strategic Sourcing and Program Management, outlines how to manage supplier risk, specifically through the synchronization between strategic sourcing and program management. The webinar provides an in-depth view of the evolution of sourcing and IT, the challenges within IT program management & sourcing, program management principals and how tight coordination between program management and sourcing ensures success, including real life case study examples.
Watch the ManagingIT Supplier Risk webinar for insights into how strategic sourcing and program management are vital to ensuring the success of an IT initiative as well as easy to implement concepts that will help make the process more manageable.