Vendor management

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BSI works with a number of our customers to assist with vendor management. We have acted in this way on a number of occasions as it allows our clients to benefit from our years of experience and expertise in the vendor space. Vendor management programs allow our customers to build relationships with suppliers and service providers that will strengthen both businesses. Vendor management is not negotiating the lowest price possible. Vendor management is constantly working with vendors to come to agreements that will mutually benefit both companies. Key principles we observe when coordinating vendor management include:

  • Sharing Information and Priorities
  • Balancing Commitment and Competition
  • Allowing Key Vendors to Help You Strategize
  • Look to Build Partnerships For The Long Term
  • Seek to Understand the Vendor's Business Objectives Too
  • Seek to Negotiate to a Win-Win Agreement
  • Come Together on Value


Insurance Day News Feed

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