Vendor Evaluation
No matter if you are new to outsourcing or your organization currently employs this strategy, evaluating your outsourcing partner is critical to the success of your strategic goals.
Outsourcing Vendor Evaluation Overview
Deciding on the right outsourcing partner for your business needs is the first and most important step in outsourcing. There are many who claim to meet all the pre-requisites for becoming your partner. But an outsourcer must follow a comprehensive vendor evaluation process before making the final strategic decision.
The next step is scrutinizing the different vendors based on common benchmarks. Assess each vendor against common criteria like industry know-how, technical skill set, cultural flexibility, quality standards, pricing model, procedures followed, et all. After narrowing down your choice to a few selected vendors, begin a pilot project with the offshore vendors. This project, though smaller in size and non mission-critical, will help to further analyze the short listed offshore vendors more critically. Analyze the project's outcome and decide which outsourcing vendor's mind-set best suits your project needs.
When evaluating an outsourcing vendor, ask these questions:
- Do they have the infrastructure and processes to execute on a consistent basis?
- Have they created a closed loop performance process to exceed your expectations?
- Do they help identify best practices and work on continuous improvement?
- Do you feel this vendor will truly be a partner?
- Do you feel your vendor is an extension of your business?
- Are they scalable and value added?
- Do you really know how your vendor is handling your customers?
- Do they provide you with complete access?
- Do they have the tools to enable this process?
- And finally, can you trust your vendor?
Click here to download a Vendor Evaluation Form from our PDF library.