What is Vendor Overlap Matrix?
The Vendor Overlap Matrix is a visual tool that tracks and compares vendors providing similar functionalities or services, helping to identify areas of duplication or overlap within the tool ecosystem.
Why it Matters
Understanding vendor overlap allows businesses to consolidate software and vendor relationships, reducing complexity and costs. The matrix helps identify areas where strategic vendor consolidation could lead to significant savings.
Benefits
- Visualizes vendor overlap in software portfolio
- Identifies opportunities for consolidation
- Improves vendor and software portfolio management
- Supports strategic decisions on vendor relationships
