Vendor Manager Workspace Challenge Vendors are increasingly critical to the performance of IT organizations. Organizations need a way to keep all vendor information including vendor profile, performance, satisfaction, SLAs, contracts etc., in one place. However, vendor managers have no easy way to aggregate all vendor information into a single logical v iew. Generic vendor performance tools lack real time operational data regarding vendor serv ices and therefore cannot prov ide an up to date picture on vendor performance. Organizations that want to maximize the value of their vendor serv ices need a single pane of glass to v iew clear information about the vendors from the time they are onboarded, until the time the vendor contract is terminated. Solution With ServiceNow’s Vendor Manager Workspace, organizations can v iew and manage vendor serv ices from a single destination. Monitor the performance of your company's vendors and manage all vendor-related information. Assess vendor performance using configurable vendor metric indicators. Track and analyze how your vendors are executing on their goals and which areas need attention from a unified, central location. Integrate data from Serv ice Portfolio Management (SPM), Contract Management, Assets, SLA Contracts, Vendor Risk Management, and Continual Improvement Management (CIM) applications. Overview Serv iceNow Vendor Manager Workspace aggregates all vendor data across the platform and provides analytics to monitor and evaluate vendor performance. Vendor performance is calculated automatically based on chosen indicators. Now, organizations can make the right data-driven decisions regarding vendor serv ices Benefits Single pane view View consolidated vendor information in a single workspace to actively manage relationships Automated Performance Updates Track performance automatically with real-time operational data captured with the Now Platform Standardized Metrics Remove the guesswork around assessing performance with integrated, standardized metrics. The ServiceNow Difference Consolidated vendor information including profile, contracts, CSAT etc. Single click access to vendor performance based on real-time data Vendor data integrated seamlessly with the serv ices portfolio The most powerful born-in-the- cloud, ITSM platform in the world Collaborate with stakeholders to gauge satisfaction with vendors and take corrective action ❝ Nowhere else can I see performance, compliance, contract and risk data all in one place Vendor Manager, Fortune 500 Healthcare company Vendor Directory Compare vendor scores, contract costs, and other attributes in a single v iew. Vendor Profile Get a snapshot v iew of a vendor, including overall score, supporting metrics, and contact info. Vendor Satisfaction Work with stakeholders to assess satisfaction with vendors and take corrective action as needed. Single Pane View Get a consolidated v iew of your vendor investments from a single workspace. Contract Review Review and evaluate vendor contracts and obligations all in one place. Cost Management Identify duplicate services between vendors to improve user experience and reduce costs. Compliance Monitoring Stay on top of service issues to ensure good governance and compliance. Standardized Metrics Track vendor performance to make meaningful decisions with integrated, standard metrics. SLA Tracking Validate vendor performance against SLAs to take corrective action or assess chargebacks. Automated Scoring View detailed vendor scores automatically updated with operational data from the Now Platform. Objective Reporting Evaluate vendor performance based on real data, not vendor self-reporting. Service Credits Help tally refunds from vendors due to performance failures © 2021 ServiceNow, Inc. All rights reserved. ServiceNow, the ServiceNow logo, Now, Now Platform, and other ServiceNow marks a re trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries. Other company names, product names, and logos may be trademarks of the respective companies with which they are associated. SN-DataSheet-VendorMangerWorkspace-062021 servicenow.com 68% of vendor managers map Key Risk Indicators to Key Performance Indicators Features