The CompTIA MSP Guidebook: Cultivating a Culture of Process E昀케ciency Implementing a Vendor Management Policy A vendor management policy serves as the bedrock for e昀昀ective vendor partnerships, streamlining the selection, onboarding, and ongoing management processes. Use this vendor management policy template, designed to empower MSPs with a structured framework for building and nurturing vendor relationships, to get started. By adopting a systematic and organized approach, MSPs can mitigate potential risks, enhance operational e昀케ciency, and uphold the highest level of security and compliance. Vendor Management Policy Template Document Type: Organizational Policy Document Ref No: Policy Number Controls Regulation/Standard: Controls Addressed: Addressed: Compliance Framework Created by: Published by: E昀昀ective from: Revised on: Choice Cyber Company Name 1/1/1901 Solutions Client Full Name Scope: This policy and procedures thereof shall be applicable to: • All o昀케ce facilities of Company Name. • Employees and third-party contract workers accessing Company Name’s Personally Identi昀椀able Information (PII), Personal Health Information (PHI), and information systems and services. • Company Name information systems and data maintained by or on behalf of the organization, speci昀椀cally: - Information systems and applications that support the operations and assets of the organization, including those provided or managed by another organization, contractor, or other source, as well as services that are either fully or partially provided. - Information systems and applications that are hosted, outsourced or cloud based. 29