10 point criteria for evaluating the Vendor Partner

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For more than two decades I have been selling and possibly for a similar time I have also been involved in buying decisions. While sales is getting more complex by each passing day in this competitive marketplace and with all the technology platforms becoming available, Buying has also been through an evolution of sorts. More people getting involved in the buying decision and more processes to follow to get the decision is creating more complexity and even accountability to decisions.

In my interactions with buyers I have been curious to ask them about criteria that they look for which enables them to make the right decisions. Captured here for you are the 10 key criteria that stood out from my discussions with them. These are specifically for complex buying decisions in B2B scenarios and may be biased to service / solution sales.

You may never find a vendor partner who fits perfectly against all the 10 criteria but am sure these criteria while help you evaluate more objectively.

1)  Perspective  – Did they bring perspective (new thinking) to your conversation?

2)  Competence  – Is this their core competence?

3)  Consistency  – Do they have a positive track record?

4)  Commitment  – ​​Are you important for them?

5)  Convenience  – Are they easy to work with?

6)  Capacity  – Do they have the right resources available?

7)  Simplicity  – Are their frameworks (products) simple to understand, easy to manage?

8)  Risk  – Do they have experience of similar projects?

9)  Agility  – Do they have speed and willingness to course correct?

10)  Cost  – Will their proposition provide high ROI?

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