IT Best PracticesIT Governance

The Importance of Maintaining Formal Governance with IT Vendors

Do you really need all of the formalities of a formal governance practice or committee? Yes, because it is the formal governance that produces the best IT vendor relationships. In an article for CIO Insight, Christopher Stacy stresses the importance of formal governance, and best practices are highlighted.

Governance and Trust Go Together

Sometimes, there is a tendency to become more laid back about governance requirements when the vendor is performing well, but this is a huge mistake. It is during these times of great performance that skills are mastered and it becomes easier to fix problems in the future.

Relationships are built over time. Executives who are involved in different client accounts need to be familiar with the different vendors on a closer level so they can make the best decisions during turbulent times. Additionally, strong relationships ensure that vendor leadership is constantly in the know about changing conditions that could impact vendors. Clients who are actively communicating with vendors can help the vendors stay on top of changes that may impact business.

It is equally as important for the vendor to be openly communicating their strategy to the client. Being able to see the big picture helps the client to navigate the long-term relationship. Additionally, this helps the client to be able to see the improvements, no matter at what point in the contract they are made.

The data that can be collected during peaks in performance can prove invaluable during the comparison of poor performance. It will help the evaluation process of governance to be more effective and meaningful in the long run. Having consistent communication can help to streamline responses to problems. When everyone involved is on the same page, everyone can respond to user inquiries and complaints in the most effective and efficient way.

You can read the original article here: http://www.cioinsight.com/it-management/expert-voices/the-importance-of-maintaining-formal-governance.html.

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