Beyond the sale: Managing Relationships

by | Nov 5, 2020 | News, Sales

Your company’s relationship with its vendors continues after the sale. While your vendors have the responsibility of providing the solutions they have sold you, you are now responsible for tracking how well your vendors are meeting their responsibilities. A clear set of Key Performance Indicators (KPI’s) provide transparent and measurable standards your company can use to ensure your vendors meet their contractual obligations.

 

What Should Be Measured?

Developing effective KPI’s requires some planning to determine how you will know that progress is being made and when the project will be completed. How will both of these look to you and how often will you be talking with your vendors about their progress and any problems that may arise? Every vendor should be willing to have this conversation. Some questions which may guide the internal and external conversations could include:

  • What problems could surface and how should they be handled?
  • What are the measurables and how should they be tracked?
  • What other expectations do I have for my vendors?
  • How will I know, when the vendors have satisfied their contracts?

 

Has The Problem Been Solved?

Key Performance Indicators (KPI) help answer these questions with clear, tangible performance metrics and are negotiated with your vendors. Your development of them ensures, that the metrics are measuring what your company needs measured. Look for KPI’s to:

  • Gauge your vendors’ adherence to the parameters of their contracts.
  • Provide important feedback for you and your vendors concerning service.
  • Provide for timely corrections.
  • Open conversations about solutions to new and emerging problems.
  • Become valuable pieces of your next negotiation with those same vendors.

 

Next Steps

Government Utilities Technology Services, Inc. (GUTS) works with its clients to develop well-defined and transparent KPI’s. KPI’s ensure that both GUTS and their clients retain ownership of their respective responsibilities as every effective team does. Contact GUTS today for industry-defining solutions provided in complete transparency.