Reporting

Vendor performance monitoring feels like an overwhelming but important piece of a successful Third Party Vendor Management program. As we look to mature our third party risk program, I would like to learn of some of the best practices other organizations have implemented related to vendor performance monitoring. As we think about Key Performance Indicators, what are others utilizing to measure their vendor's performance (SLAs, Quality Assurance, etc.)? Does anyone have a survey of questions they like to utilize with their internal business owners/product users? If it is a vendor that interacts with your end customer, do you complete any surveys surrounding customer experience? How as an organization can we capture the ROI with an established vendor relationship?

I too am interested in this, as it seems to be an overwhelming task to standardize performance metrics, SLAs, KPIs, etc. for a vendor portfolio that is very broad (banking/financial services).  I don't have anything to add at this time, but will be following this thread for others responses.