In-House or Outsourced? Different Ways to Implement Vendor Monitoring
Every vendor your organization partners with adds risk to your organization. In order to manage this added risk, you and your team spend lots of time monitoring your vendors throughout the course of their partnership.
Unfortunately, vendor monitoring tasks can take a lot of time and resources. Therefore, some organizations consider outsourcing some of their vendor monitoring activities to a consultant in order to use their in-house resources for other projects. In this article, we have weighed out the pros and cons of outsourcing or keeping your vendor monitoring in-house, to help you decide which might be right for your organization.
This article compares the three main areas of utilization through both in-house and outsourced options: