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Can You Trust Your Vendors?
Blog on Automation and Technology • posted 02/17/12
When contemplating adding new technology to Accounts Payable it’s important to spend time researching both the technology itself and the vendors who can provide it. We want to be sure we understand how the technology works and how to integrate it into our other systems and processes. And we want to feel secure in the knowledge that the vendor we ultimately select will be a good partner for the long haul.
So where do we go for the solid information we need? According to a recent study by the Marketing Leadership Council we are likely to look at up to 10 sources of information before we talk to any vendors. In their survey of 1900 organizations they found that 72% of the respondents listed word of mouth, 62% listed non-supplier blogs, and 47% listed trade journals.
Think About It:
Of course this survey was directed toward vendors to help them understand how to better sell to us, the end user. And needless to say, vendors were not pleased that they entered into the information stream so late in the process. It’s in the vendor’s interest to get to us early in the process so they can influence our thinking and our requirements so that they conform to the product they are selling.
But it’s in our best interest to learn as much as we can from neutral sources so that we are in a position to really judge the strength of the vendor and their offering. To that end it’s heartening to see that so many organizations are educating themselves before meeting with vendors. With so many sources available to us both in print and via the internet this process is easier than ever before.
It’s always been the case that the very best way to seek information about a technology, service, or vendor is to talk with someone who already uses it. And as helpful as it is to have this discussion at the beginning of the process of selecting a technology and a vendor it is equally important after narrowing down the list of possible vendors. Be sure to request multiple references from potential vendors and to talk with each and every one of them. Don’t skimp on this step. Even the references handpicked by the vendor are likely to provide you with information that is simply not available to you from any other source.
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