As the coronavirus pandemic wreaks havoc on the economy, companies are understandably scrambling to reduce costs where they can. But prematurely engaging IT vendors without a well-thought-out plan can cause irreparable harm to your relationships – with both your internal stakeholders and your vendor partners. In this podcast, Practice Leader, Len Riley, shares the lessons he learned when he led cost optimization initiatives at CVS Health during the 2008 financial crisis and discusses the critical internal work that has to be done before engaging the vendor community. Understanding the priorities of internal stakeholders in times of a crisis is an essential step to take before engaging vendor partners. Len covers each of the internal stakeholders you should consider, his prospective on their priorities, and how to navigate these relationships to prepare successful cost-reduction strategies.