A Practitioner's Guide To IT Outsourcing – An Evolution Of Vendor Management And Oversight

In the final article of our mini-series 'A Practitioners Guide to IT Outsourcing', Rhiannon Monahan, an Associate Director within our Governance and Consulting Services Group highlights the key components of a robust vendor management programme, including key regulations to be incorporated into your oversight and due diligence activities.

Note: While this article uses the phrase 'Vendor Management' throughout, readers should understand this to be a general reference to the framework(s) used to govern and oversee their outsourced, delegated and other third-party arrangements.

Vendor Management Fundamentals

As highlighted in the ECB's recent article on outsourcing trends in the banking sector, the reliance placed by banks on IT Outsourcing continues to increase; with all indications pointing to this trend continuing for the foreseeable future. In addition, it is unlikely that this trend is confined to the banking sector as we continue to see firms across the