Old IT procurement practices can’t match the fast pace of the digital economy

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My latest IDC PeerScape report ($$$$) describes how several CIOs are revamping IT procurement and vendor management to get in sync with a fast-paced digital economy. They’re dealing with more vendors (including startups) and more contracts, which are refreshed more often because of the quickening pace of technological change. Readers will notice some clear themes: fewer traditional RFPs, more proof-of-concept tests, and higher CIO expectations from the vendor relationship.

The advice from leading CIOs is this: Streamline the bureaucracy, automate the workflow, learn to deal with innovative startups, and demand more business value from your vendors.

These insights come from interviews with:

  • Greg Tacchetti, chief information & strategy officer at State Auto Insurance
  • Ken Piddington, CIO at SGR Energy Inc.
  • Niel Nickolaisen, CTO at O.C. Tanner
  • Raman Mehta, CIO at Visteon Corp.

Related: CIOs NOT working with startups are falling behind

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