In some earlier posts, I had talked about the basic Vendor Management processes, including a workflow:
Vendor Management itself has more to it. To list a few other areas:
- Vendor Contract Management
- Vendor analysis and reporting
- Query Management
- Payment Settlement
- Vendor Account reconciliations
Vendor Contract Management
Vendor Contract Management related work for a back office / outsourcing unit can again range from simple to complex. On the simple side, it can comprise of uploading the contract and its terms into the ERP system. This will be more of a transactional process, as no decision making and judgment will be involved here. In some cases, this layer may include simple drafting support for various contracts.
At the next level, the renewal tracking and validity audits will be in vogue. At the highest level, contract terms negotiations, market term analysis and negotiations, contract execution and other similar areas will be done by specialized resources in the shared center.
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Have you explored the eSourcing Capability Models? The eSourcing Capability Model for Service Providers (eSCM-SP) and the eSourcing Capability Model for Client Organizations (eSCM-CL) provide a set of complementary frameworks for establishing, managing and excelling in sourcing relationships. For more details, check out http://www.itsqc.org Hinduja Global Services is the most recent eSCM-SP certified organization for their operations in India, Phillipines, and the US.
Thanks for sharing. I am sure most of the outsourcing vendors have some form of application, either in-house or third party for this.