TECH BUYER Mar 2019 - IDC PeerScape - Doc # US44916219
IDC PeerScape: Practices for Modernizing IT Procurement and Vendor Management
By: Mitch Betts
This IDC PeerScape describes how several chief information officers (CIOs), in a variety of industries, are revamping IT procurement and vendor management to get in sync with a fast-paced digital economy. They're dealing with more vendors (including start-ups) and more contracts, which are refreshed more often because of the quickening pace of technological change. Readers will notice some clear themes: fewer traditional RFPs, more proof-of-concept tests, and higher CIO expectations from the vendor relationship.
"The advice from leading CIOs is this: Streamline the bureaucracy, automate the workflow, learn to deal with innovative start-ups, and demand more business value from your vendors," says Mitch Betts, an adjunct analyst with IDC's IT Executive Programs.