IT vendor management is quickly evolving as a formal discipline because enterprises are demanding more from vendors in order to deliver the value and innovation they need to achieve positive results, according to Gartner Inc.
"Vendor management is increasingly important as a distinct discipline because newer cloud delivery models and niche vendors can generate a lot of value for a business, while also introducing a high degree of risk that requires management," Gayla Sullivan, research director at Gartner, said in a statement. "Moreover, the era of digital business brings many opportunities to generate competitive advantage and increased revenue through the innovative technologies and services offered by vendors."
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