6 Things to look for before partnering with a vendor

6 Things to look for before partnering with a vendor

Being in the business of channel for over 15 years, one of the most important lessons that we have learnt is the importance of the relationships that you hold - with the customer at one end and the vendor/ supplier on the other end. Getting the equation wrong in any of the two cases can land your organisation into a great deal of trouble.

We have also learnt that the old adage ‘A job well begun is half done' holds true in channel relationships as well. Making the first choice of the vendor(s) you choose to partner with is an important choice for your business. The quality of the vendor that you choose can make a big deal of difference to your business outcomes and more generally to the way your business functions. In this light, here are six important things to keep in mind while choosing a vendor you want to partner with:

A vendor that believes in mutual profitability

Finding value through a vendor/supplier entails finding such an organisation that is committed to not just expanding the sales of their own products and solutions, but also to helping you expand your business. It is therefore important to identify a vendor who is able to consider your goals as an organisation and helps you grow in that direction.

A vendor who believes in letting you know their products inside-out

The first step to selling a product is knowing the product inside-out. A good vendor is one that enables you to do so by constantly engaging with you at a personal level and conducting training programs to understand their products and solutions inside out. For instance our partnership with Dell and many other players in the market has been especially beneficial due to the training and enablement programs that they organise. Many good vendors today also provide comprehensive support for the business which included sales and marketing tools to help you break into new markets.

A vendor that helps capitalise on your strengths

Your organisation most likely brings something unique to the table for a vendor through your experience and previous customers. Ideally, the vendor you work with should be able to identify and work with your particular specialisation and revenue goals. Using the one-size-fits all approach can often be a reflection of poor planning and a lack of understanding of the different paths can lead to the same goal. Ensure that not just the organisation but the team that you work with the organisation reflects this culture.

A vendor that is well-reputed

It is beneficial to do some background research on the vendor that you intend to partner with. A google search and a run through their website will help you understand the level of reputation of the company. An organisation that has a large customer base that vouches for the products sold by them will most likely be the kind of organisation that you want to partner with. Such factors are indicators of the quality that the organisation brings to the table. Also, assessing the reputation of the top executives of the organisations is important as it is a reflection on management of the company. Awards and industry recognitions are another way of determining the quality of the organisation that you are looking to partner with.

A vendor that can be trusted

How trustworthy your vendor is, will reflect on your own trustworthiness as an organisation with your customers. Your business depends very strongly on the relationships that you build with your customers. This means delivering on time, providing top quality service and assistance at all time. With an increasing relationship between IT and business outcomes, any drop in the quality provided by the supplier you deal with can be a poor reflection on you with several repercussions. Hence, choose a vendor that you can trust to deliver the promises that it and you make to customers.

A vendor with a fool-proof market strategy

Assessing your vendors ‘market strategy is another good way to determine its success in the market. Assess whether your vendor is selling products and solutions that keep with the broader market trends such as BYOD, Mobility, cloud, etc. Also examine if their sales and marketing models are modern and can sustaining. Knowing these responses can give you a clear indication of where the company is headed and therefore the long term success and reputation of the vendor.

Successful relationships that benefit both parties and foster a sense of mutual profitability are what can move you forward in your business and ensure its growth. Following this simple checklist while choosing the vendor that your partner with can ensure for a smooth business and create a long-term and beneficial relationship.

The article is authored by Praveen Naik, founder and owner, Veetrag Computers