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Evaluating Your Information Technology Vendors Is an Ongoing Process: ThreatAdvice Course Overview

Information Technology is a sector of business operations that evolves at a faster rate than other departments. Organizations of all sizes have various levels of IT needs, however, IT security is too critical for organizations to set a vendor in place and disregard technology management. This process should be ongoing to ensure the company is equipped with the most secure IT management vendors available. The process of IT vendor evaluation can certainly be a tall task though. Organizations should consider the following steps when evaluating the services of IT vendors.

Identify the Information Technology Needs of the Organization

Appropriate personnel should conduct meetings to gather an extensive list of Information Technology needs. These needs can vary based on the size of the business, the security budget available, and system gaps that have been identified. IT vendors often offer an extensive list of products, but may only specialize in specific security services. Creating an extensive list of needs will ensure that the organization is extremely familiar with its needs before conducting the vendor search.

Create a List of Quality Vendors

Once the organization has identified its needs, research can be conducted to find the most qualified IT vendor options. During this stage, the list of candidates should be more extensive to ensure that no vendor is overlooked. This step does not involve making a final selection, so organizations should feel more open to consider all potential options.

Calculate ROI

When organizations start to identify potential vendors, they must then consider the return on their investment. Consideration of ROI when selecting IT vendors is dependent on the price of services and the value of services. The best ROI in IT management is assurance of data security and confidence in technology maintenance.

Narrow the Options

Following the ROI assessment, the process shifts to narrowing the potential vendors. Shortlist candidates should fit within the company's security budget while also meeting all security needs. Candidates that do not meet this criteria should be removed. The remaining candidates should be ranked according to how well they match the security needs of the organization while also providing the best ROI. The shortlist should consist of the organization’s top three to five IT vendors. 

Conduct Critical Analysis of Vendor Demos

The top remaining vendors should then be provided the opportunity to demonstrate their services or products. Demos can often turn into a sales pitch from vendors that are biased towards their offerings. For this reason, organizations must conduct critical analysis of each demo. Stakeholders and executives should be open to ideas pitched in demos while also remaining steadfast in the overall security needs of the organization. Critical analysis of demos builds the confidence needed to make the final decision.

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Summary:

Organizations of all sizes have various levels of IT needs, however, IT security is too critical for organizations to set a vendor in place and disregard technology management. This process should be ongoing to ensure the company is equipped with the most secure IT management vendors available. The steps for evaluating IT security management vendors include identifying the IT needs of the organization, creating a list of quality vendors, calculating ROI, narrowing the options, and conducting critical analysis of vendor demos. 

For assistance in evaluating your strategies, technical requirements, staff evaluations and communications, contact a ThreatAdvice Professional to learn more.