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Vendor Management

Vendor management enables an SMB to manage vendors that provide services to its organization. This discipline can result in better cost control and service excellence and reduce the risks associated with long-term contracts and vendor tie-ins. A vendor management strategy enables leaders to: - Choose the right vendors based on their budget and organizational requirements - Negotiate the right contracts - Determine the ideal number of vendors - Reduce risk when working with vendors - Only pay for vendor services they require - Become part of a vendor management organization that serves their business

What Small and Midsize Businesses Need to Know About Vendor Management

An SMB that manages vendors can minimize business disruption, meet business objectives, avoid downtime and delivery failures, ensure sustainable multi-sourcing, and get more value from their vendor contracts.

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