Vendor Manager Workspace Overview

[Ankit K]

One of the key highlights of the New York Release is Vendor Management Workspace with ITSM Professional package. A vendor is an entity that provides a product or service to employees.

"Vendor management is a discipline that enables organizations to control costs, drive service excellence and mitigate risks to gain increased value from their vendors throughout the deal life cycle" - Gartner

I am going to go through some of important aspects of Vendor Management Workspace in this blog to help customers better understand this offering and the benefits they gain by adopt it. 

Here is a link to the Vendor Manager Workspace overview video!

The vital question ------Why do we need vendor manager workspace?

Imagine a scenario where you need to understand information that pertains to your vendors but there is no single application or view where you can access this information easily. You are going through excel sheets, documents, analytical tools etc, building your fact sheet to make sense of it and sharing it with stakeholders. By now you can feel how inconsistent and frustrating of an experience this can be for a Vendor Manager.

This is what ServiceNow ITSM Vendor Management Workspace is here to solve.

• A single place / view to locate all information related to a vendor.
• Easy way to access and track vendor innovation.
• A way to view vendor performance data.
• Objectively assess vendor execution, responsiveness deadlines, handling issues etc.
• Reduce reliance on vendors to self report on SLA's and KPI's.
• A comprehensive view of the full SLA journey from the perspective of the end-user

How we enable vendor manager workspace

This feature is part of ITSM premium subscription and the following plugins need to activated

Vendor Manager Workspace(com.snc,vlm.vmw)

   - Dependencies on Vendor Manager Workspace - Core(com.snc.vlm)

   - Additionally Performance Analytics Premium(com.snc.pa.premium)  will have to be enabled separately 

What are we delivering

With New York release the most important persona would be the Vendor Manager.

Key features

•  Vendor Directory
•  Vendor Profile

            - Integration with: 

• • Service Owner Workspace
  • Continual Improvement Management
  • Assessments
  • Contract Management
  • Vendor Risk Management 

• Performance Breakdowns  

What to look forward to

Non IT use cases in the future

Integration with: Asset, HR, Finance.