As an engineering manager, some day you will be faced with a need to select a vendor. Usually, it's when you need a quick solution that's not within your team's skill set, but there are a lot of other instances. The selection could be very important to your team, company and career (no pressure), so it's important to get it right. After doing it for many years, I've developed a framework to help streamline the vendor selection process. First, you need to come up with a list of business requirements for the project.
The AI-based security vendor, Balbix, screens positively in the Information Security sector of ETR's Emerging Technology Study (ETS) designed to measure the brand awareness and market opportunity for privately held technology vendors. In fact, Balbix has one of the highest percentage of Global 1000 respondents citing that they are currently evaluating the company, in comparison to the numerous other information security vendors that we track in that sector. As part of its ongoing research efforts, the VENN team is highlighting some of the best performing emerging vendors.
We've come a long way from the days of horrific working conditions of the industrial age. Yet many companies are still as tough on their vendors as managers were on their employees a century ago. In the gig economy the line between a freelance employee and a traditional vendor has become blurred. Smart companies are therefore increasingly treating their gig workers like employees to get more of them. The problem with current company-vendor relations starts at the beginning of the relationship.
The second quarter of 2020 launched many digital transformation projects that didn't necessarily happen at the behest of chief innovation officers, but because of the wrecking ball of disruption known as covid-19. Even if companies did succeed at rapidly orienting operations and services to digital, the transformation journey is far from over--and that means procurement and vendor management professionals now need to work some IT budgeting magic. This content was produced by Insight. It was not written by MIT Technology Review's editorial staff. Jamie Werve is director, e-commerce strategy, at Insight.