Analyzing and selecting the most qualified vendor at the right price is critical to your business’ success. Unfortunately, risk management can sometimes be an afterthought in this process. Overall, managing vendor risk may be a business priority, but the complex web of third-party vendor regulations and best practices can be daunting. That’s why many companies hire a vendor manager.
While it may seem simple, there can be perils to hiring a vendor manager internally, and ensuring this team member lives up to expectations is even harder. (Read our blog on hiring a vendor manager for more information on that.) A truly diligent and experienced vendor manager can be expensive, and less experienced or unqualified vendor managers can leave you open to even greater risk.
Download the whitepaper now to learn more!