Vendor is a person or a company that provide one or more than one product or services and in return, they get money. A vendor can be a single person or a company that either works locally or internationally. You always need a vendor either you want to start a new business or want to improve the existing one. Different businesses or persons need different kind of vendors according to their need. A company can grow with help of a single vendor but generally, there are more than one vendors working at a time.
Both new and existing businesses need different kinds of vendors at different stages. It’s important to discuss that a vendor is the key feature of a grown business. When you go out in the market, you meet more than one vendor for the same job but not each of them is right for the task. You need to do some research and work with the best available person and that guaranty the growth of your business.
Here is preview of a Free Vendor Comparison Sheet Template created using MS Excel,
In order to end up with the best vendor, you need to do a comparison. There are a lot of websites that offer to do this comparison work for you. You can compare two or more than two vendors at a time. These online tools are very accurate but mostly the results are very complicated and difficult to understand. In that case we recommend you to do this comparison by yourself. That’s not very complicated you just have to follow some simple rules and at the end, you will have the best available vendor in the market.
There are some qualities that a vendor should have in order to provide the best job. Some of them are:
General information to know about a vendor:
- What is the experience of each vendor and who has more goodwill in the market
- What is the overall credibility of their organization
- Which vendor has more corporate staff in his company
- What are the major projects each vendor have done in the past
- Which one of them offer the greater end-to-end development services
- Are they local or international
How regularly they contact you to know about a particular strategy:
- How many vendors provide complimentary consultant services with their CEOs
- Do they consult with you before implementing a different strategy
- Is their planning actually shows that you are going to get the estimated result
The way they manage their work:
- Are they going to provide a dedicated project manager
- How good their teams are and who is the in charge of each team
- Do they provide weekly meeting times that work with your schedule
- Do they communicate with you within 12 hours in case you contacted them
- Do they provide a checklist to satisfy you with the progress
What is their behavior after the job is done:
- Are they going to offer support after the work is done
- Are they going to offer warranty of their work or services
- Are they going to provide assistance for any error or problem even when the job is done
By reviewing all these key features you can compare two or more than two vendors at a time and the vendor with most points wins.
Here is download link for this Vendor Comparison Sheet Template,
Download Vendor Comparison Sheet Template
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