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Guide to Selecting a Vendor

Written By: Editorial Staff
Congratulations for signing up with Resource Nation! You no longer have to filter through thousands of business services companies and qualify a select handful of companies for the bidding process. If you have not already, you will receive a list of up to five qualified service providers to bid on your specific project. We suggest that you prepare a brief overview of your project to provide each vendor.

Next, create a list of questions that you want to ask each service provider and set up a telephone call to discuss your project (check out the articles database for sample questions). While asking questions, you want to listen to the answers and also gauge if you like how the provider communicates with you.

After you have asked your questions, offer an opportunity for the provider to ask you questions about your company and the project. You are giving them an opportunity to understand the scope of your project, and again you are evaluating the quality of their questions.

Depending on the complexity of your project, the needs assessment stage may take more than one conversation. Your goal during this process is to finalize a document that describes your project in detail. This document should be given to all 5 providers so they will be able to offer you apple-to-apple quotes. Sometime during this process you should ask to talk directly with the individuals who will be representing your company.

Once you have met with each company and given them a detailed description of your project, you are ready to ask for their proposals. Set a deadline for the proposal. A proposal should include confirmation of the project description, a price, a target project completion date, and a copy of the provider’s standard agreement so you can read all of their terms.

Once you receive a proposal you like, you are ready to go. For more complex projects, a provider may include something in a proposal that you did not expect, like a special term or a promotion. At this point, you can always go back to the providers to give them feedback on their proposal and ask them to make adjustments if necessary.

After you make your decision, it is a professional courtesy to inform all of the companies of your decision. Good luck!

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