DeepStream ’ s founder and CEO , Jack Macfarlane , discusses the complexity of vendor management and technology ’ s role in navigating the procurement function
WRITTEN BY : GEORGIA WILSON
EMENT
Empowering organisations to effectively control costs , reduce risks , ensure excellent service , and derive long-term value , vendor management can – when done correctly – generate great success and value for organisations by building , maintaining , and strengthening mutually-beneficial supplier relationships .
While the benefits are clear , the multidisciplinary nature of the procurement function leaves many organisations grappling to navigate the stressful and complex process .
So , what is driving this complexity ? DeepStream ’ s founder and CEO , Jack Macfarlane explains : “ There is a need for change in simplifying processes and making them more transparent . Although client and customer communication have long been managed using the latest client relationship management software , vendor relationships have been held back by antiquated and opaque systems . Most of this has been – and , in many cases , still is – managed through old fashioned methods of communication and storing information , such as email and spreadsheets .”
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