Page 3 - ASR_Forewords

Explore, Enable, Excel

FOREWORD

IT VENDOR MANAGEMENT

ART AND SCIENCE

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
experience.

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