The results of a comprehensive survey of Supplier Management in Financial Services have just been announced. The survey, carried out in the UK by CityIQ, looked at how City institutions manage their suppliers given the pressures in the current market.
Presenting the findings, Paul Wiltshire of CityIQ explained: “There were four key themes that came out of this piece of research:
Summing up, Wiltshire concludes: “It’s a tough market and organisations are demanding much more from their suppliers. The relationships that are going to prosper will depend on being able to deliver value for money at an acceptable level of risk. More than that, suppliers will have to become increasingly proactive if they want to hold on to their clients. Strategic supplier relationships are clearly the area to watch – as if they get it right this is where organisations will derive best value.”
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