Vendor owner
Also called Relationship owner, Business owner
A vendor owner is the person accountable for a vendor relationship: whether to keep it, renew it and what it is worth.
Why it matters to a budget owner
Without an owner, renewals happen by default. The owner decides before each notice deadline and is the person finance asks about the cost.
The owner is usually the budget holder who uses the vendor, not procurement or IT, though they often help.
What to record
- The owner's name
- A backup for absences
- The budget the cost sits in
Frequently asked questions
Who should own a vendor used by several teams?
The team that pays for it or depends on it most. Name one person, and list the other teams as users.
General working knowledge about commercial contracts, not legal advice. Your own agreement governs.
Glossary
Look up related terms
- Vendor registerA vendor register is one list of every vendor a company or team uses, with what each does, who owns it and what contract applies.