A New Path For IT SVM: Bridge The Marketing-Technology Sourcing Gap

Your company's core relationship with its customers is being transformed by technology. In the "age of the customer," organizations that harness digital technologies to understand and engage with their customers will move faster, act smarter, and operate cheaper than their competitors. Today, most marketing technologies get sourced by marketing organizations or in a self-service manner, with limited involvement from sourcing and vendor management (SVM). As the dollar and strategic value of marketing technologies grow, however, we will see more centralization and sophistication in sourcing processes that help marketing professionals manage the costs, risks, and benefits of their major technology purchases. While sourcing professionals will be able to apply many of their traditional practices, sourcing these technologies involves a fundamental shift in the traditional SVM strategy: away from strict cost-cutting and risk mitigation and toward supporting and serving the end customer and business initiatives.