Week 5: Are Your Vendors Working For You?
We rely on vendors for so much these days. You bring vendors on board to streamline operations, reduce costs, and free up your team to focus on core business functions. But sometimes, what starts as a helpful solution, gradually morphs into a source of frustration. As part of a new year refresh, it is prudent to look at those vendor relationships and the workflows they support, to make sure your team isn’t spending more time working around the vendor's system than benefiting from it.
Regularly reviewing your third-party managed processes is crucial. It's not about assigning blame; it's about continuous improvement. Here's how to get started:
Step 1. Scrub Your Data: Garbage in, garbage out. Cleaning and standardizing your data is the foundation of accurate reporting and informed decision-making. A data audit can reveal inconsistencies and areas for improvement.
Step 2. Map Your Workflows: Document the step-by-step process for each task handled by a third-party vendor. This visual representation can help you identify bottlenecks, redundancies, and areas where automation could be implemented.
Step 3. Challenge the Status Quo: Encourage your operational staff to question existing processes. They're the ones on the front lines, and they often have the best insights into where things can be improved. Ask: "Is this the most efficient way to do things?" "Are we leveraging the full capabilities of the vendor's platform?"
Step 4. Explore New Possibilities: The technology landscape is constantly evolving. Staying informed about new solutions and enhancements can help you identify opportunities to streamline processes and improve efficiency. Don't be afraid to explore alternatives – even if you've been with the same vendor for years.
By continuously evaluating your vendor relationships and the processes they manage, you can break bad habits, uncover hidden efficiencies, unlock new opportunities, and improve your bottom line. It might even open your eyes to a service or solution you'd never considered before – one that could significantly impact your efficiency and success.
Navigating the landscape of service vendors can be complex. SCA Consultants bring extensive experience working with a multitude of providers, allowing us to design the optimal process for our clients. If you're facing challenges, seeking best practices, or unsure where to start, reach out to our Director, Bill Dolan at wdolan@scapartnering.com or by phone at (617) 694-2617 and let's discuss your needs.
