I’d like to share or bounce it off from someone in case that you have similar policy or considerations.
The concern is obviously from client perspectives, and with consideration of accommodating internal politics (hey who does NOT have them?). The intention is to establish a set principles at a high level and then get into guidelines or best practices such as best of the breed or best of suite types of discussion when it comes IT purchasing as per Burton group.
Here they are:
Key vendors are the ones that
• provide technologies/services in alignment with the organization’s vision and strategy.
• provide products/services that have deep footprints within the organization and are strategically important to the success of the organization’s business
• provide products/services in a model that is best suitable to Organization’s operation or business model.
• hold key enabling technology/services in the industry or sector that the organization is in
• hold the lifeline of the organization such as SaaS based services hosting CRM application and data (as an example).
• have clear advantages than the others in areas such as geographic or relationship (goodwill is intangible but not negligible corporate asset).
• provide products/services that are culturally matching.
Key vendors are NOT the ones that
• provide niche functions that increase the competitive advantages, but the niche functions have yet been proven or be accepted by the markets at large.
• provide comparable but overlapping technology/services with others in the industry or sector that the organization is in.
• have price advantages than the others but no other differentiators.
*It must be noted that an organization will and must engage vendors of all types, including non-key vendors, but it is vitally important to have a set of carefully selected and well managed key vendors for the success of the organization’s business
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