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Expertise and Services: Vendor Management

The Challenge

A billion dollar health insurer asked The Valde Group to manage their portfolio of vendors to improve operational efficiency and consistency of support provided by each vendor.

Our Approach

Our team first identified our client’s strategic goals with regard to vendor management as well as current “points of pain” that our client was feeling. This list included - but was not limited to - consistent reporting, service level agreements and operational support models. We created a cross-functional leadership team consisting of client and vendor team members and defined multiple workstreams based on prioritized client goals. We then managed each workstream with defined deliverables and milestones. Progress and issues were reported to Senior Management with a structured communications approach.

The Results

Our client was able to realize various benefits of our vendor management initiative. These benefits included enhanced and consistent reporting, an optimized operating model, clear communications and paths of issue escalation / resolution.