Exploring Vendor Management Workspace

  • Release version: Yokohama
  • Updated January 30, 2025
  • 2 minutes to read
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    Summary of Exploring Vendor Management Workspace

    Vendor Management Workspace in ServiceNow Yokohama release provides a centralized interface to monitor vendor performance metrics and analyze vendor health. It enables vendor managers to organize vendors into KPI groups, compare vendor performance, and track compensations owed due to service agreement breaches. This workspace facilitates comprehensive vendor oversight and proactive management.

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    Key Features

    • Vendor Organization and Analysis: Vendor admins can create KPI groups to categorize vendors and set up performance metrics. Vendor managers can analyze these metrics to assess vendor health and compare vendors.
    • Compensation and Issue Tracking: Vendor managers can create service credits to track breaches and vendor tickets to log issues, linking SLAs and service commitments for efficient resolution monitoring.
    • Integration with ServiceNow Applications: Vendor admins can integrate Vendor Management Workspace with other ServiceNow modules to use broader organizational data for vendor assessments.
    • Customizable UI: UI builder admins can tailor the workspace experience to meet user needs, enhancing usability and relevance.
    • Performance Improvement Tools: Features include generating vendor satisfaction assessments, creating improvement initiatives, and setting performance targets to drive vendor performance enhancements.

    Users and Roles

    • Vendor Admins: Responsible for adding vendors, configuring metrics, creating KPI groups, and integrating with other applications.
    • Vendor Managers: Use the workspace to evaluate vendor health, track issues, manage service credits, and analyze performance data.
    • UI Builder Admins: Customize the workspace interface to align with organizational and user-specific requirements.

    Practical Benefits for ServiceNow Customers

    • Centralizes vendor performance data for easier monitoring and decision-making.
    • Enables proactive vendor management by tracking breaches and issues promptly.
    • Supports continuous improvement through performance targets and satisfaction assessments.
    • Facilitates better collaboration by integrating vendor data across ServiceNow applications.
    • Allows customization to optimize user experience and align with business processes.

    Use Vendor Management Workspace to monitor metrics and analyze your vendor's health from a single user interface. Gain insights when you compare top-performing vendors and track compensation your vendors owe you when they breach the service agreement.

    Vendor Management Workspace overview

    The video provides an overview of Vendor Management Workspace.

    As a vendor manager, you can:
    • Organize your vendors into vendor KPI groups and analyze vendor performance.
    • Gain insights into how your vendors are performing in comparison with other vendors in your organization.
    • Track the compensation that you vendors owe for breaching service agreements.

    Vendor Management Workspace users

    Table 1. Users
    User Description
    Vendor admin Vendor admins can add vendors and set up vendor metrics.
    Vendor manager Vendor managers use Vendor Management Workspace to evaluate vendor health.
    UI builder admin Using UI builder, UI builder admins can customize Vendor Management Workspace based on the users' needs.

    Vendor Management Workspace workflow

    Infographic for Vendor Management Workspace workflow. The text that describes the flow follows this infographic.

    In this workflow:
    1. Administrators activate Vendor Management Workspace. The application is installed after the Vendor Manager Workspace (sn_itsm_vendor) plugin is activated. Vendor administrators can then configure the application and vendor managers can use the application.
      Note:
      After the administrators activate Vendor Management Workspace, they can also customize Vendor Management Workspace using UI Builder.
    2. Vendor admins can create KPI groups so that vendor managers can track vendor metrics.
    3. Vendor admins and vendor managers can do any of the following:
      • Integrate with other ServiceNow applications to assess vendors who use data from other applications.
      • Generate vendor satisfaction assessment to measure stakeholder satisfaction.
      • Create improvement initiatives to track tasks to improve a service, process, or a task.
      • Create performance targets to set goals to achieve desired vendor scores.
    4. Vendor managers can do any of the following:
      • Create service credits to track vendor breach of agreements.
      • Create vendor tickets to track issues as they arise.
      • Associate SLAs and service commitments with vendors to monitor how quickly vendors resolve issues.
      • Analyze vendor metrics using the vendor KPI group data.
      • Monitor vendor performance within a KPI group and assess them.

    Vendor Management Workspace benefits

    Benefit Feature Users
    Add vendors and set up vendor metrics to analyze their performance goals. Configuring Vendor Management Workspace Vendor admin
    Monitor vendor metrics and evaluate vendor health using Vendor Management Workspace. Managing vendors using Vendor Management Workspace Vendor manager
    Bring in data from other ServiceNow applications to assess the relationship with your vendors. Integrating Vendor Management Workspace with other ServiceNow applications Vendor admin
    Create custom web experience in Vendor Management Workspace based on your needs. Customize a Vendor Management Workspace page using UI Builder Admin, Workspace admin, or UI builder admin