Looking for a reliable and trustworthy vendor for your business can be a time consuming process. Finding new vendors is your way of creating leverage during contract negotiations. Also, getting vendors that have the right combination of service, pricing and resilience will protect your organization from fly-by-night vendors or very large vendors that are not nimble enough to meet your organization’s needs. Once a vendor has been identified, we will help you to establish guidelines for engaging in vendor sourcing.
Our process:
- Vendor Identification: Our team will thoroughly research and identify potential vendors that match your specific criteria. We take into consideration factors such as industry experience, reputation, capability, and financial stability.
- Vendor Evaluation: We evaluate potential vendors based on their capabilities, quality standards, pricing, and past performance. Our goal is to ensure that only the most suitable vendors are presented to you.
- Vendor Selection: We work closely with you to review the shortlisted vendors and make the final selection. Our team will provide you with all the necessary information, including vendor profiles, references, and pricing details, to help you make an informed decision.
- Negotiation and Contracting: Once the ideal vendor is chosen, we will negotiate the terms and conditions on your behalf to ensure that you get the best deal possible. We will assist you throughout the contracting process to safeguard your interests.
- Ongoing Vendor Management: Our relationship doesn’t end once the contract is signed. We offer ongoing vendor management services to ensure that the vendor continues to meet your expectations and deliver the promised results.
Our Vendor Sourcing services also include the following:
- Establishing an NDA (Non-Disclosure Agreement) with vendors prior to engaging in discussions
- Visiting vendor sites for an evaluation of their operation to substantiate claims
- This technique has been proven highly successful in identifying issues with vendors that falsely reported capabilities
- Comparing multiple vendor attributes and issues with a scoring matrix to determine which vendor most closely aligns services with your company’s requirements
- Guidelines for engagement
- Billing formatting, frequency, and terms
- Single point of contact between both companies
- Escalation list of teams within your organization
- Vendor stewardship meetings
- Problem resolution
- Integration of your systems with the vendor or vendor systems with your company, i.e. ERP, ticketing, etc.
