Exploring Vendor Management Workspace

  • Release version: Xanadu
  • Updated August 1, 2024
  • 2 minutes to read
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    Summary of Exploring Vendor Management Workspace

    Vendor Management Workspace enables you to monitor vendor metrics and analyze the health of your vendors from a single interface. It provides insights into vendor performance comparisons and tracks compensation owed by vendors for service agreement breaches.

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    Key Features

    • Vendor Organization: Group vendors into KPI groups for performance analysis.
    • Performance Insights: Compare vendors within your organization.
    • Compensation Tracking: Monitor compensation owed for service agreement breaches.
    • User Roles:
      • Vendor Admin: Adds vendors and sets up metrics.
      • Vendor Manager: Evaluates vendor health using the workspace.
      • UI Builder Admin: Customizes the workspace to meet user needs.
    • Integration: Connect with other ServiceNow applications to enhance vendor assessments.
    • Customizable Experience: Use UI Builder to tailor the Vendor Management Workspace.

    Key Outcomes

    • Enhanced ability to monitor vendor performance and health.
    • Improved stakeholder satisfaction through vendor assessments.
    • Increased efficiency in tracking vendor-related issues and SLAs.
    • Ability to set and achieve performance targets for vendors.

    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

    Infographic for Vendor Management Workspace workflow. The text that describes the flow follows this infographic.

    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