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Vendor management program office
Onshore or offshore?
Despite the decline in labor arbitrage benefits, outsourcing and offshoring continue to be on the rise. The challenges in managing relationships with business units, multiple vendors, and sourcing, and procurement functions remain, however, that has not prohibited clients from exploring and successfully moving vendor management functions to offshore centers.
A range of benefits, similar to benefits from IT outsourcing and offshoring functions, can be realized, including access to specialized skills, centralized centers of excellence supported by specific Finance, Contract management, Risk, and Compliance tools and access to scalable support functions where additional volumes invoices, service requests, and contract changes can be efficiently and seamlessly managed.
Vendor management, if appropriately branded and invested in, can continue to effectively manage risks and optimize savings from managing vendors. However, that is only first base; additional efficiencies can be realized by moving functions offshore.