As businesses transform and implement digital transformation, what changes need to happen internally and structures put in place to change the way suppliers are governed?
The most common governance challenges include antiquated contracting models, irrelevant metrics, misalignment with desired business outcomes, organization immaturity, delivery focused, missing technology and architecture and complex and diverse vendor ecosystem.
Governance Transformation is being driven by evolving buying behavior, analytics and decisions, a new breed of suppliers, new delivery models, value optimization, demand for digital transformation, focus on business outcomes and increased risk and regulatory compliance. It is changing the way we do contract structure and management, relationship management, financial management, performance management and risk management.
Changes can include updating polices and preparing for change, redefining processes and updating capabilities, implementing technologies, training the team and enabling governance structure for new ecosystem.
Listen to the webinar How to Manage Ecosystems and Relationships in the New Digital Enterprise with Avasant Partner, Carlos Hernandez to gain more insights.