Published: 07 June 2023
The traditional RFP process can hamper accelerated digital business transformation and the delivery of priority changes. Sourcing, procurement and vendor management leaders can engage quickly with a prequalified provider by using dynamic sourcing to speed up and simplify the negotiation process.
With the number of critical digital initiatives on the rise, and the time to deliver constantly shrinking, traditional sourcing, engagement and contract processes take too long. In addition, sourcing, procurement and vendor management (SPVM)leaders are increasingly challenged to improve collaboration with providers.
Many organizations expect their incumbent providers to leverage the existing relationship in terms of understanding their culture and the experience of working together to rapidly address new business requirements. The ability to move quickly in these situations is often hampered by procurement processes and the onboarding of new suppliers. New providers must learn the culture of
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