Building Stronger IT Vendor Relationships

Most executives know the benefits - such as more insightful advice and comprehensive solutions—of strong partnerships with vendors. In many industries, these advantages can be pursued by developing long-term relationships, but few companies have been able to do that with their IT vendors. A recent McKinsey survey shows that although many organizations aspire to closer ties, the behavior of these companies often conflicts with this objective.

The take-away

To create higher-impact vendor relationships, companies should analyze their portfolios of IT vendors to determine which are critical and then communicate their needs and expectations more clearly.

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