Your vendors can help you either grow your business or grow your stress. Choose the right vendor for your work.
In life it matters who you live with because they have a strong impact on your personal growth. Similarly in business it is crucial to be sure you are dealing with the right set of people to gain maximum benefits from your investments. Your vendors are not just your associates; they are your partners whose performance affects your work quality and profit numbers. Even in case of IT, right selection of vendors for sourcing the equipment and software can help you execute work with ease and increase your overall efficiency.
Here are some tips to select and manage your vendors more effectively;
- 1 vendor v/s 10 vendors:
A common myth is that you need multiple vendors for different needs. In today’s time, agencies are working towards becoming 360 degree service providers so that you don’t have to coordinate with multiple people and waste your time and efforts. A single vendor can save you ample time and unload your stress of maintaining multiple vendor records. The catch here is to choose a treatable vendor whom you can rely on for your needs. Several factors help you judge the vendor like company credentials, status enjoyed in the industry and past case studies. Make sure you cross check these details and ensure they are strong enough before laying off your load on their shoulders.
- Know their terms
Every vendor works with different terms and conditions that suit their company structure, type of activity, and scale of their operations. This is another reason why a single vendor is helpful as it gets difficult to keep track of variable vendor terms. Before employing the vendor, make sure you give a close look to their terms of work like payment structures, credit periods, delivery mode, hidden costs involved, etc. Make sure they are suitable for your organization structure.
- Availability and feasibility
A vendor who is easily accessible by phone or has multiple offices in case you are looking for pan India operations, is a better choice. They are available at your disposal even at the 11th hour and you know you can find them around in case of an emergency. Another relative factor is the level of feasibility provided by the vendor.
- Industry experience
A background check on your vendor is a smart move. After all, you will be sharing a part of your profits on their services. Check how old they are, which other clients they cater to, etc. And it is wise to visit their office and to meet their team to know their strength and capability.
- Value for Money
Want an example of a suitable vendor? Check RAC IT Solutions Pvt. Ltd. www.racwg.com – they provide all types of IT equipment on rent, across India at most cost efficient prices. RAC IT, in brief, is a reliable NSIC-CRISIL rated MSME company with an efficient team to handle all your IT-related requirements.A good vendor will always have a win-win attitude in mind. Ideal vendor is one who will look for ways for you to save money while ensuring reasonable margins for self. The quality of service gets assured. Look out for such vendors who help you in better accounts management by providing mutually suitable terms.