Most of us know what we’re looking for in a life partner, but do you know what your business is looking for in a hardware or software technology partner? What are your preferences? What makes one vendor a better choice for you than for someone else?
Not sure? Haven’t thought about it? Think you already know? defi SOLUTIONS CEO Stephanie Alsbrooks suggests ten questions to help you narrow down which technology partner is right for you.
There’s no right or wrong answers when it comes to what's right for your business. What matters to you may not be important to another business, and vice versa. What’s important is that you’re honest and aware of what will and won’t work for your business.
Here’s a sample of some of the questions Stephanie suggests you consider when searching for the perfect partner for your business:
- If your vendor offered you a SOURCE CODE ESCROW would it matter to you?
- Is it important that your vendors release their FINANCIALS to you?
- How important is it that your partner makes their OWNERSHIP STRUCTURE clear?
- What if your vendor doesn’t clearly share the HEALTH OF ITS SYSTEM to keep you updated – does that matter?
- Which do you prefer: a vendor that gives transparency about their PRICING, with everyone receiving similar deals? Or a vendor that negotiates to the point that the next company that comes along might be paying substantially more or less than you?
For the complete conversation (and the rest of the questions), check out Stephanie’s article in the May/June 2017 issue Non-Prime Times.
Then reach out and let us know what other questions you’ve found important to ask in your search for a perfect partner for loan origination software, loan management and servicing systems, analytics services or auto loan portfolio marketplace.