Vendor Management Program Gap Analysis

Q: Not sure where your Vendor Management Program stands in terms of compliance, risk or maturity?

Q: Ready to take your program to the next level and aren’t quite sure how to get there?

Q: Received audit or regulatory findings and uncertain what is required or how to remediate the issues?

A: You need a VMP Gap Analysis!

1)   The VMP Gap Analysis begins with a discussion about your current state including:

  • Bottlenecks, limitations, perceived obstacles
  • Audit findings and/or regulatory issues
  • Staffing adequacy, tools and service providers utilized to help manage your program
  • Program framework

2)   The discussion then moves to where you see the desired state of your program and includes:

  • A review of strategic objectives
  • Interviews with stakeholders throughout the enterprise
  • Planned vendor management initiatives

3)   The final stage of the VMP Gap Analysis includes a comparison of the Current State to the following:

  • 10 Components of a vendor management program including documented risk assessment
  • State and Federal regulations for vendor oversight
  • Desired State of your program


  • Documented Current State & Desired State
  • Key Gaps
  • Roadmap to achieve Desired State and/or to remediate regulatory issues or audit findings
  • Business Value of change
  • Risk Assessment of vendor management program

“If you don’t know where you’re going, you’ll end up someplace else.”

–Yogi Berra