IT Vendor Management – Part 2: The Real Work Behind Great Partnerships

Vendor management goes beyond choosing a supplier it’s about building strong, secure, and strategic relationships that move the business forward.

In this second part of my series, I’m sharing key activities and deliverables that make vendor management successful, especially from a GRC (Governance, Risk & Compliance) perspective.

Here’s a breakdown:

Vendor Evaluation & Requirements Gathering

– Market assessment, content evaluation

– Requirement analysis and RFP development

Contract Negotiation & Drafting

– Planning, aligning with business goals

– Addressing legal, security, and risk concerns

Performance Monitoring & Relationship Management

– Clear KPIs, dashboard tracking

– Building open and collaborative partnerships

“Seek first to understand, then to be understood.” – Stephen Covey

Risk, Compliance & Financial Management

– Baseline risk/security assessments

– Regular audits, cost monitoring, and compliance tracking

87% of organizations believe financial management is critical to vendor success – Deloitte

Change Management & Continuous Improvement

– Working with vendors committed to evolving

– Aligning on transformation goals and sustainable growth

These aren’t just checklist items — they’re how organizations protect value, ensure compliance, and stay secure in today’s environment.

Why am I sharing this?

As someone focused on cybersecurity and GRC, I’ve found vendor management to be a powerful intersection of security, trust, and strategy. It’s where policy meets people and real impact happens.

I’d love to hear your thoughts:

What’s one vendor management insight or lesson you’ve learned from your experience?

Let’s discuss.👇

#Cybersecurity #GRC #VendorManagement #RiskManagement #Compliance #ITGovernance #CareerInCyber #OpenToWork #Leadership #ContinuousImprovement