Tips & Best Practises for efficient QBRs

Quarterly Business Reviews (QBRs) are an essential part of the Vendor Management activities. These reviews provide an opportunity to evaluate vendor performance, identify areas for improvement, foster innovation and collaborate with vendors to achieve your business goals. Here are some best practices for conducting QBRs with IT vendors:

1. Establish clear goals. Define the agenda and objectives of the QBR and communicate them to the vendor in advance. This will ensure that both parties are aligned and prepared to discuss the topics that matter most.
2. Involve the right people. This includes senior management, procurement, and other key stakeholders.
3. Use a scorecard to evaluate the vendor's performance. This may include performance against SLAs, service quality, cost and other key performance indicators.
4. Service Overview. Present a summary status of ongoing services and assess whether they are on track. Identify any issues or improvement areas and work collaboratively with the vendor to have action plans in place.
5. Encourage open communication. Listen to the vendor's feedback, and work together to identify opportunities for mutual benefit.
6. Follow up on action items and commitments made during the QBR. This will ensure that both parties stay on track and continue to work towards our shared objectives.

By following these best practices, you can maximize the value of your QBRs, improve vendor performance, and strengthen your overall vendor management strategy.