You may already be involved in a contract or maybe you’re searching for a new vendor. Here are a few helpful (I hope) tips to consider on your search.
Need vs Wants
The first thing you will want to do is sort out what functions you actually need versus the shiny ideas you want. What are the key functions that need to be in place and what would be considered a luxury item. This will make it much easier to figure out potential solutions that best fit your business.
Scalability
As your organization grows and expands the software should be able to scale accordingly. Make sure you know what the level of customization and scalability is that the product offers. It happens far too often where companies are forced to re-evaluate and invest in a new product or solution.
Hidden/Additional Fees
Be sure you know where all your costs are associated and find any fee’s that will be tacked on as additional (ie. Training, maintenance fee, setup). Also, be on the look out for any wording that will allow the vendor to increase fee’s during your contract period.
Data/Coding Ownership
Keep an eye out for contract language which may try to withhold your data and/or developed intellectual property in exchange for continued partnership or licensing fees. You may have the best relationship with your current vendor, but that does not mean you’ll be together forever.
Shared Goal
Think of your vendor as someone who is on your team and share the same goals and values as you. The vendor may have completed similar tasks to the one you are looking to implement but their experience should overlap your vision.
In the end the relationship between you and your vendor should feel like a win-win situation, aside from both parities financial success. If at the end of the project you feel you stayed on budget, you weren’t bamboozled by additional charges, you have the ability to adapt and scale when needed, you don’t feel handcuffed by your current contract, and you and your vendor are on the same page working towards a common goal. You may just be working with the right tech vendor!
