Exploring Vendor Management Workspace

Use Vendor Management Workspace to monitor metrics and analyze your vendor's health from a single user interface. Gain insights when you compare top-performing vendors and track compensation your vendors owe you when they breach the service agreement.

Vendor Management Workspace overview

The video provides an overview of Vendor Management Workspace.

As a vendor manager, you can:

• Organize your vendors into vendor KPI groups and analyze vendor performance.
• Gain insights into how your vendors are performing in comparison with other vendors in your organization.
• Track the compensation that you vendors owe for breaching service agreements.

Vendor Management Workspace users

Table 1. Users

User	Description
Vendor admin	Vendor admins can add vendors and set up vendor metrics.
Vendor manager	Vendor managers use Vendor Management Workspace to evaluate vendor health.
UI builder admin	Using UI builder, UI builder admins can customize Vendor Management Workspace based on the users' needs.

Vendor Management Workspace workflow

In this workflow:

1. Administrators activate Vendor Management Workspace. The application is installed after the Vendor Manager Workspace (sn_itsm_vendor) plugin is activated. Vendor administrators can then configure the application and vendor managers can use the application.
   Note:

   After the administrators activate Vendor Management Workspace, they can also customize Vendor Management Workspace using UI Builder.
2. Vendor admins can create KPI groups so that vendor managers can track vendor metrics.
3. Vendor admins and vendor managers can do any of the following:
   • Integrate with other ServiceNow applications to assess vendors who use data from other applications.
   • Generate vendor satisfaction assessment to measure stakeholder satisfaction.
   • Create improvement initiatives to track tasks to improve a service, process, or a task.
   • Create performance targets to set goals to achieve desired vendor scores.
4. Vendor managers can do any of the following:
   • Create service credits to track vendor breach of agreements.
   • Create vendor tickets to track issues as they arise.
   • Associate SLAs and service commitments with vendors to monitor how quickly vendors resolve issues.
   • Analyze vendor metrics using the vendor KPI group data.
   • Monitor vendor performance within a KPI group and assess them.

Vendor Management Workspace benefits

Benefit	Feature	Users
Add vendors and set up vendor metrics to analyze their performance goals.	Configuring Vendor Management Workspace	Vendor admin
Monitor vendor metrics and evaluate vendor health using Vendor Management Workspace.	Managing vendors using Vendor Management Workspace	Vendor manager
Bring in data from other ServiceNow applications to assess the relationship with your vendors.	Integrating Vendor Management Workspace with other ServiceNow applications	Vendor admin
Create custom web experience in Vendor Management Workspace based on your needs.	Customize a Vendor Management Workspace page using UI Builder	Admin, Workspace admin, or UI builder admin