ISG Unveils Online Vendor Management Assessment Tool

Easy-to-use tool allows enterprises to assess their VMO strengths and weaknesses

STAMFORD, Conn., June 16, 2020 (GLOBE NEWSWIRE) -- Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, today launched an online assessment tool that allows enterprises to evaluate their vendor management office (VMO) capabilities and receive a comprehensive analysis of their strengths and weaknesses.

In a series of 30 questions that takes approximately 12 minutes to answer, the ISG GovernX VMO Assessment Survey evaluates how the survey taker’s VMO functions are performing against organizational objectives, whether the businesses is extracting maximum value from vendor relationships and where improvements can be made.

Multiple participants from an enterprise can take the survey for an even more detailed examination of the business’ areas of opportunity. The brief survey is offered free of charge on the ISG website. Comprehensive evaluations are returned within one business day, and survey responses are anonymous.

“Effectively managing outsourced services is particularly challenging in today’s fragmented sourcing environment, especially in the midst of the COVID-19 pandemic, which has increased the focus on supply chain risk,” said Lois Coatney, partner and president, ISG GovernX. “Organizations that practice good vendor governance typically display a set of common attributes. To help enterprises understand where they stand today and how they can improve, we have designed our survey to be as simple as checking a credit score.”

Coatney said enterprises with third-party supplier relationships but no formal VMO operating model will find the survey results helpful for building a model, growing VMO capabilities or understanding the extent to which the relationship is delivering value as promised. For enterprises that have a VMO in place, the survey will help them adopt industry best practices, use digital tools and technology to drive repeatability in their processes, reduce discrepancies and cycle time, and increase efficiency and cost effectiveness.

“Some enterprises find themselves in a frustrating cycle, in which core issues with suppliers fail to get resolved,” Coatney said. “In times of crisis, a vendor management capability that provides a clear line of sight into all supplier relationships becomes even more critical. The ISG GovernX VMO Assessment Survey will help users identify strengths and weaknesses and build a VMO capability that will mitigate supply chain risks, ensure business continuity and maximize value for the business.”