As the latest technologies are incorporated into the business process, organizations will naturally become more comfortable when working with third-party technology vendors. This means the ability to identify, select, and manage the right technology vendor can make the difference between the success and failure of a new business initiative. But, while many sourcing and vendor management (SVM) professionals are starting to play an increasingly important role in this emerging technology evaluation process, many of Forrester’s sourcing clients explain that their involvement is not always clearly defined, resulting in a more reactive and makeshift role than they would like.
Why? In part, it’s due to the historical nature of the challenges SVM professionals face. For example, emerging technologies are not traditionally considered the responsibility of sourcing professionals, making them a less likely player for key insight. Additionally, the high standards sourcing applies to larger contracts often raises red flags, which does not translate very easily to new technologies. The unintended consequence? SVM professionals often slow the adoption process and are viewed as barriers to innovation, rather than supporters and enablers.
