The importance of transparency, accountability, and collaboration with vendors in reducing risks associated with third-party contracting is highlighted in this article. It discusses the challenges faced by a new chief technology officer in finding a new cloud vendor after a deteriorating business relationship with the previous one. It also mentions the potential consequences of mismanagement in vendor relations, such as unexpected costs and lack of long-term planning. The recent pandemic has brought about a significant shift in IT vendor relations, with vendors offering support for remote and virtual environments.
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