The North American healthcare technology market has seen tremendous growth in recent years, and the number of software and hardware vendors servicing the healthcare industry continues to climb. Under these circumstances, organizations need an efficient way to select and build vendor relationships.

T2 Tech’s vendor neutral team has helped many esteemed clients in healthcare and other industries manage the entire lifecycle of vendor relations. Drawing from our experience and proven techniques, I recently collaborated with a senior project manager to write a white paper on the early phases of vendor management.

To provide helpful information on the early phases of vendor management, the whitepaper explains nine steps that we’ve used to effectively manage vendors for clients:

  • Step 1: Understand what you’re looking for from the vendor and create clear objectives
  • Step 2: Assess multiple options and encourage competitive pricing
  • Step 3: Create a detailed agenda before vendors arrive for negotiations
  • Step 4: Assemble cross-functional teams with an IT management sponsor
  • Step 5: Establish vendor days to maximize time efficiency
  • Step 6: Define what you want to spend and don’t buy more than you need
  • Step 7: Create a scoring tool to rank objectives outlined in your scope
  • Step 8: Assign a point person for contact
  • Step 9: Make sure vendors understand and adhere to all rules of engagement

I encourage you to read our white paper, A Nine-Step Vendor Management Strategy for CIOs, and to contact us if you wish to share your views or have any questions about vendor management.