Right Vendor Gives You Right Benefits

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Hello friends,

I am your Buddy Mr. Connect…….!!

Well in today’s world NO organization can work without engaging any vendor/service provider. Although every organization has its own process to evaluate vendors & engage them for various services but at times fail to receive sustainable gains. What is this? Is this a failure at the organization’s end or at the vendor’s end? Well, very few organization really bothers to ensure the sustainable growth of their vendors & vice versa but majority cases not. Once the vendor settles in, they tend to overlook whether;

  1. The agreed SLA’s are being met as per the contract/agreement
  2. The periodic reporting structure is being followed or not
  3. Timely submissions of bills happening or not
  4. Non adherence of TAT’s by the vendor
  5. Performance evaluation is being done at regular intervals with a scope of improvement or not

Each one of us has heard & often say that “It is EASY to implement but DIFFICULT to sustain” & by the virtue of this saying we all are heading towards it by just not following simple best practices. Although it is not only the responsibility of the organization to strive hard to ensure their expectations are being met by the vendors but it is an equal responsibility of the vendor too.

To engage a professional service expert you need to FIRST, evaluate their empanelment basis:-

  • Domain expertise
  • Financial health
  • Market credibility
  • Existing Client base especially of the same domain
  • Client reference check
  • Professional experience
  • Compliance & certifications
  • Self network offices
  • Any client’s appreciation/award
  • Staff quality
  • Workflow whether technology driven approach or not

SECOND, upon empanelment, handhold your vendor in the initial stages without which the vendor may find it difficult to get adjusted to the working environment/pattern of your organization. Follow below best practices to bring them to PAR.

Remember the vendor is your service partner who expects the same level of support from you, the way you expect.

  • Have frequent review meetings to evaluate their ongoing performance level
  • Two-way feedback session in order to improve at both ends
  • Be a good listener to all his problems & then suggest an appropriate solution
  • On the site training to get them acquainted to your work culture
  • In case you have office network across geography then do instruct your offices to extend their full support & cooperation
  • Eyeball check is done on their work in order to ensure the correctness of everything that they deliver
  • Appreciate them in OPEN & have suitable R&R program in place for them to boost their morale & good work
  • Treat them with all respect & dignity
  • Pay on time
  • Counsel before confronting them
  • Provide timely approvals to let them execute their tasks within prescribed timelines
  • Encourage them to suggest best practices & Ideas to curtail down your expense
  • Make them follow proactive approach rather reactive

THIRD, Once they are fully acquainted with your work culture, they would start delivering the desired results even more than your expectations. REMEMBER that even after putting so much efforts to develop & train your vendor, If still, the vendor fails in delivering the desired service levels then there might be issues like;-

  1. Does not have Good quality execution staff, efficient supervisors, etc
  2. Take things for granted without any fear of business getting lost
  3. The operations team is not synchronized with the sales workforce
  4. Commercial challenges
  5. Training challenges
  6. Low motivating factors within their company
  7. Lack of core domain knowledge

Henceforth, it is of utmost importance to ultra screen the vendors at the time of the empanelment exercise. Keep asking a lot of WHY’s till the time you are satisfied even if you take time else you would keep spending time on their re empanelment.

Start reaping benefits straight from day 1 if you engage the right vendor such as:-

  • Justifies your spend that you desire for your organization
  • Ease out all your burden
  • Add value to your portfolio by way of suggesting ongoing cost save techniques, process improvements, ethical way of working, etc
  • Exceeds internal customer expectations
  • Improved health of your assets with improved lifecycle replacement
  • Safety & security of your premise on their top priority
  • Help increasing your OPEX/CAPEX budget by way of providing cost-effective solutions
  • 100% compliance
  • Efficient performance standards ensuring high-class maintenance
  • Help contributing to other service domains

Be part of each other’s GROWTH journey. Connect with us for the right vendors/service partners as we provide Corporate specialists only.

Hope you have enough insight into this critical portfolio.

For any clarification, counseling session, Professional Services Solutions or getting an insight on right vendor selection, you may connect with us at 011-42440037, E-Mail us at info@collarsconnect.com or you may even raise your requirement/query at https://collarsconnect.com/corporate-query. We shall be happy to assist you.

HAPPY CONNECTING……………..!!

Your’s Buddy

Mr. Connect

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