The Value of a Vendor Partnership
Leveraging a partnership with a vendor sets the stage for a solid foundation for corporate infrastructure and business process efficiency.
As an example, Intercon Messaging is a reliable vendor-partner throughout Canada, where our professional telephone answering services support many large organizations. Our team shares responsibility on many levels as we invest in our client's business just as we would as if it were our own.
Being an effective vendor partner requires full engagement in a business relationship. Vendors and clients should equally participate in a mutually reciprocated collaboration. Being a committed vendor partner is what truly sets the stage for a successful and productive long-term business relationship.
If you are thinking about how to improve your vendor partnerships, here are some things to consider.
Business Alignment
Most vendors are typically viewed as product or service providers — in other words, an order taker. But in reality, they can become a viable extension of any business operation.
For example, an I.T. company may have limited staff and individual employees who function in highly specialized areas of expertise. The challenge for most organizations is that there never seems to be enough time to train others and transfer specific institutional knowledge. This is where an effective vendor-partner relationship comes into play.
For example, having an outsourced partner, such as a tech support call centre, can solve this issue and even expand an in-house team's capabilities. This type of vendor-partner relationship offers flexibility and supports succession planning while sharing a mutual vision.
The value here is that now there's an outsourced extension of your team, and employees can easily focus on their strengths and core responsibilities with ease. Companies can innovate quickly, efficiently, and profitably.
Improve Morale with a Quality Vendor-Partner Relationship
Taking the stress off of employees always has a positive impact. Teams who feel that their company supports them with the tools and relationships to deliver their best work are more apt to be internal brand ambassadors. This is a cultural catalyst for creating a happy and productive work environment that will undoubtedly increase employee and vendor retention.
An effective vendor–partner relationship should have clear lines of delineation, though. With each person understanding their specific role, everyone can “stay in their lane” if communication, functionality, and collaboration are supported.
Reduce Risk and Labor Costs
The right vendor-partner can ensure continuity and reduce workflow interruptions while minimizing communications gaps. This type of relationship can act as a type of insurance policy that helps capture institutional knowledge and safeguard against a loss of productivity or critical business information.
Having a trusted vendor partner helps reduce labour costs since there is no need to add someone to your payroll. As an example, for pennies on your payroll dollars, a 24-hour live answering service can be available to answer your phones when your staff is unavailable or if it’s after-hours. Custom scripts allow call agents to best represent your business to all callers in need of your products or services at any time of day or night. And the best part is now your business is virtually open 24-hours.
Five Characteristics of Creating A Successful Vendor-Partner Relationship
Most vendors are one-dimensional in their approach to a business relationship — they are transactional thinkers!
Effective vendor-partner relationships are rooted in mutual trust, shared risk, and long-term reward. There's no consideration of short-term or one-sided success, only continued investment in a business relationship where everyone gets to add value and win.
Mutual Trust
Parallel Core Values
Focus and Commitment
Mutual Guidance
Collaborative Learning and Growth
Let’s Connect
Need a trusted vendor-partner for outsourcing your customer service experience needs? Visit this link or contact our team at 1-866-605-2558.
