Vendor Relationship Management

Overview [1]#

Vendor Relationship Management (VRM) stated objectives is to provide customers with both:
  • independence from vendors, and
  • better ways of engaging with vendors

Vendor Relationship Management (VRM) is a framework allowing customers provide Access Control for their Data Management which vendors access.

Vendor Relationship Management (VRM) is a framework to manage Subject Relationships.

VRM applications provide customers with both independence from vendors and better ways of engaging with vendors. The same tools can also support individuals' relations with other Organizational Entities

To vendors, VRM is the customer-side counterpart of CRM (or Customer Relationship Management) and other systematic means for engaging customers.

VRM tools provide customers with the means to control their own experiences in the marketplace, to bear their side of the relationship burden, and to have the same kind of scale across many vendors as vendors have across many customers. (An example of scale: being able to change one's address, phone number or last name, for every vendors a customer deals with, in one move.)[1]

Vendor Relationship Management relieves vendors of the perceived need to "capture," "acquire," "lock in," "manage," and otherwise employ the language and thinking of slave-owners when dealing with customers. With Vendor Relationship Management operating on the customer's side, CRM systems will no longer be alone in trying to improve the ways companies relate to customers.

customers will be also be involved, as fully empowered participants, rather than as captive followers.

Vendor Relationship Management is part of a larger picture as well. Perhaps the best name and description for that larger picture is Life Management Platforms, coined by Martin Kuppinger of Kuppinger Cole.

Vendor Relationship Management is a Technology-Enabled Relationship Management strategy and set of tools.

More Information#

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