Why use a Vendor Management Service

brooktrout42 About The Author

Aug 16, 2017 6:33:33 PM

For any business making a decision is a process. You are going to go through numerous scenarios to make sure that you are making the best move for your company or position within the company. It is hard to be 100% when you are spending money, i have crossed many companies that have the same problems. “What the _ _ _ _ was i thinking, how come I am locked into a multi-year agreement with a company with inferior support and technology . This is what Vendor Management Service is all about, gathering the right information and assets before making a decision.

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What are Vendor Management Services

It really begins with a philosophical difference in the customer experience. Businesses have two routes when acquiring technology.

ROUTE 1) Engage with multiple sales teams from numerous vendors. This will give you options but less time to develop a strategy of how to best utilize each vendor, and what is the best fit for my specific needs. There is a lot of job movement in direct sales team making it difficult to establish relationships within the company.

ROUTE 2) Work with a third party. This means you have someone who doesn’t care about selling one specific product but focuses on your needs as a company and brings you Knowledge, Experience and Support when making a technology decision. Their goal is a long-term relationship and not just a sale.  

  • Discovery of customer needs and requirements
  • Provide Research and Education to develop a strategy for solution
  • Develop a shortlist of Vendors with proven track record of success
  • Manage meetings, demo’s, trials/PoC and communications
  • Assists with Contract Negotiations, Implementation Process and Project Management
  • Document support process, assist with any required support Escalation
  • Review contract term and vendor performance throughout the Life Cycle of the solution

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Advantages to the Customer

  • Time, the customer will save vs. meeting, responding and deciding between several direct sales teams driven by quotas.
  • Client Advocate Approach to create an exceptional customer experience and build a relationship that develops long-term success for vendor, customer and Advisor.
  • Business Intelligence to know what vendors are performing and which are not
  • Ability to receive targeted content from leading solution providers
  • Unbiased advice to understand the business initiatives and solve problems by finding the best solution for the business.
  • Escalated support for technology issues.

Face it, making technology decisions has never been so difficult. The pace of change, the amount of new products being developed in the cloud, not to mention the pressure on IT to figure it all out! Sounds like fun right. Do yourself a favor if you are looking for improving your business, contact a vendor management service or technology advisor and see how they could help you make the right decision before it's too late!