The quality of work from your chosen vendor or partner can directly impact your company’s reputation and work output. Below are some qualities that make a vendor stand out above the rest.
High quality goods and services: Plain and simple, they must be able to deliver what you are paying them for, meeting or exceeding expectations. They implement internal control checks to reduce/eliminate errors. If errors were to happen, they are quick at coming up with viable solutions. A good question to ask a vendor is “What can be done if for some reason our expectations are not met?”
Transparent and fair pricing: While we are living in a time when budgets are shrinking, going with the “cheapest option” isn’t always the best one. A good vendor will be fairly priced and offer value for the price that they are charging. They are also willing to answer questions such as “What is this cost for?” or “What would happen if we took this line item out?” Their quotes should be easy to understand with no hidden fees.
Anticipates needs/issues ahead of time: A vendor that I worked with for corporate gifting suggested issues that may arise before I even mentioned them! This shows that they think ahead and can anticipate challenges that might occur. For example, having something shipped out a bit earlier than the requested deadline and leaving additional time in case an item arrives damaged and needs a replacement.
Operates ethically and with integrity: While it’s great that a vendor is willing to do whatever it takes to deliver the goods/services, they should not be doing it using illegal practices/breaking laws and regulations. They should be up front about their capabilities and not “just say yes” without really thinking through on their delivery/if they have the resources to get the job done. Partnering with a vendor who does not operate ethically and with integrity can compromise your business and expose your company to unnecessary risks.
A good vendor is not just another company that supplies you with their goods and services. They are partners who contribute to the success of your business. By focusing on selecting vendors who meet these criteria, they can increase your chances of success rather than hinder your business operations.
Written by: Linda Mui