Page 3 - ASR_Forewords
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Explore, Enable, Excel




             S banks started adopting information
        Atechnology on a large scale during the past two
        decades, they also started depending on IT
        companies for implementation of technology
                                                              The challenges are not insurmountable. What banks
        solutions. They have been adopting various
                                                              need is to equip their IT teams with the skills relating
        approaches right from only procurement to
                                                              to vendor management. The skills are multifold. On
        procurement and maintenance to total outsourcing.
                                                              one hand, the team should be able to specify the
        With cloud becoming a feasible alternative, banks are
                                                              requirements in unambiguous terms. On the other,
        also considering moving their applications to cloud
                                                              they should be able to select the right vendor
        service providers.
                                                              following all the procurement policy approved by
        Vendor management, though inevitable, is saddled      their boards and, wherever applicable, adhering to
        with several challenges. There are challenges in      the extant guidelines from the Government, Reserve
        identifying the right vendor and the right solution.  Bank of India and CVC. Finally, they have to learn to
        There are also challenges in ensuring that the vendor  maintain a working relationship with the vendors so
        maintains timelines and quality and that the solution  as to ensure that the technology solutions run
        meets their expected requirements. Mostly, there are  smoothly.
        challenges in continued support from vendors over a
                                                              There is both art and science in vendor management.
        long period.
                                                              The art of management is not easy to document. What
                                                              is attempted in this booklet on IT vendor management
                                                              is to document the science part in the form of principles
                                                              and practices. Dr. G. R. Gangadharan and Shri B.
                                                              Shandilya deserve complements for painstakingly
                                                              compiling the booklet, with their knowledge and

                                                              The booklet is expected to serve as a handbook on IT
                                                              vendor management for IT teams across banks.

                                                                                           Dr. A. S. Ramasastri
                                                                                             Director, IDRBT

        IT Vendor Management : Principles & Practices                                                          01
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