Exploring Vendor Relationship and AI Integration Dynamics

Episode 48 | Vendor
Challenges


The Big Themes:


Contract management: Wayne and Bob discuss contract renewals
and price hikes with a focus on SaaS agreements. There's an
enduring need for a proactive approach and transparent
communication with vendors. Metrics, scalability, and
adaptability are touched upon as ways to assess value.

AI washing: Some companies may exaggerate or misrepresent the
extent of artificial intelligence integration in their products
or services in what's known as "AI washing." Wayne and Bob
advocate for transparency in AI-related claims. "You can't call
every product an AI product, just because it does two
calculations in a row."

Strategic vendor partnerships: Wayne suggests moving away
from transactional arrangements toward cultivating trust with a
select few partners. It's critical to consider the vendor's
business process, integrity, and forward-thinking approach when
choosing partners. He urges CIOs to invest time in building
partnerships, participating in user councils, and attending
events that bring customers and vendors together.



The Big Quote: "The message to the CIO is, when you sign a SaaS
contract, be very careful about what happens at the end of that
contract. The best time to figure out what to do at the end of
the contract is at the beginning, not as you get to the end."


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