ServiceNow gets Technopedia VendorData catalog courtesy of BDNA
The bigger the company, the more difficult it is to manage vendor relationships. A sizable percentage of organizations have dedicated teams for negotiating contracts and reducing the added risk of working with multiple technology suppliers. However, the rapid adoption of cloud services is quickly overwhelming traditional procurement structures.
Today, BDNA and enterprise IT automation giant ServiceNow is setting out to solve this problem with the introduction of Technopedia VendorData, a free listing of more than 14,000 software and hardware vendors complete with business statistics and market intelligence such as revenue and size.
The tool is meant to free up the person-hours that would normally go into maintaining that data and thereby eliminate human error. For enterprises, that can add up to major cost savings. “Keeping vendor information current can be a daunting task, even for medium-sized enterprises because they need to populate and maintain several thousand fields related to their vendors,” said Mahesh Kumar, Chief Marketing Officer at BDNA. “As a ServiceNow-certified integration product that installs and populates ServiceNow tables in minutes, Technopedia VendorData provides a rock-solid data foundation for applications like Vendor Performance Management, so enterprises can accurately measure and improve vendor performance.”
ServiceNow first tried to tackle this issue with the aforementioned Vendor Performance Management application, which it introduced in December to provide customers with greater insight into their increasingly heterogeneous environments. ServiceNow’s application monitors SLAs and measures supplier performance based on metrics such as compliance and reliability.
However, it only uses data that has been manually entered into the ServiceNow Configuration Management Database or related ITSM processes. This dependence on human action makes it incredibly difficult to ensure that vendor information is up-to-date and accurate—a pitfall that BDNA has set out to solve with the new Technopedia VendorData catalog.
Suzanne Kattau contributed to this story.
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