Vendor Relationships

Protecting Yourself from your Cybersecurity Vendor’s Cyber Risk

Protecting Yourself from your Cybersecurity Vendor’s Cyber Risk

A recent Bitdefender article said one in ten firms will lose $10MM from cyberattack and, as a result, greater investment in cybersecurity is being made by companies. That’s great! BUT cybersecurity firms, by the nature of the service they provide, may represent a greater security risk than ‘normal’ vendors. Here’s a story to illustrate what I mean.

Protecting Yourself from Your SaaS Vendor’s Cyber Risk

Protecting Yourself from Your SaaS Vendor’s Cyber Risk

A recent CPO article by Mark Lotti quipped, "…a vendor's cyber risk becomes the client's cyber risk".  The sheer number of breaches and data loss make this statement ring true, now more than ever.  The question is, how do you manage your vendors’ risks to keep your data secure?

3 Vendor Management Trends to Watch Out for In the Digital Age

3 Vendor Management Trends to Watch Out for In the Digital Age

The fast-technological evolution means that nearly every aspect of your business is experiencing change in some way, and vendor management is no different. When it comes to procurement and vendor management in the digital age, look out—and be ready—for these emerging technologies and trends.

How can I achieve a long-term effective contract with my vendor, while maintaining a good working relationship?

How can I achieve a long-term effective contract with my vendor, while maintaining a good working relationship?

Achieving contractual success in a volatile marketplace like healthcare requires the vision to continually shape and guide the negotiation process.  In lock step, one needs to be able to foster and keep a positive vendor / customer relationship, but still drive the desired outcomes. This needs to be done despite the obstacles that are in your way (high switching costs / restrictive contracts) and the obstacles that are placed in your way (vendor imposed conditions) after your goals and objectives are defined.