But in many cases the process of reviewing and consolidating vendors also offers improved function and security. As resources tighten across many industries, even while others expand, now is the time for strategic vendor consolidation.Ĭost savings is the most obvious advantage of consolidation, with reduced resources devoted to vendor communications, increased capacity for volume discounts, consolidated invoicing, and streamlined delivery and workflows.
If you’re lucky enough to still be in a growth phase, rather than a contraction, a too-widely diversified vendor base is likely to grow more difficult to manage over time, as well, particularly if those vendors are reducing staff. What once seemed like a useful curation of apps and functions eventually becomes an unmanageable, resource-consuming waste.Ĭontraction of IT budgets and staff further complicate the issue on both sides of a vendor agreement: Your reduced staff and budget allow less time to devote to vendor management vendor reduced staff and budget may mean turnover in contacts and increased communication required to maintain service levels. Where once there may have been a tight-knit community of usefully arranged vendors, many companies are now facing a massive suburban-style sprawl requiring the work equivalent of driving for miles to negotiate, service invoices, and manage deployment and delivery of hundreds, even thousands of individual IT vendors. Save Money and Time with a Strategic Vendor ConsolidationĪs IT offerings have exploded in the current era, giving enterprises nearly endless options in apps and functions, so have the required time and cost devoted to vendor management.
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