How to Evaluate Technology Vendors Properly

Evaluating vendors requires detailed objectives, criteria, prioritization and monitoring. Here’s help. When it comes to choosing a vendor, enterprise tech buyer teams can easily become bogged down in the details and documentation provided by sales teams. To keep your focus on selecting the best vendor for the solution and use case you've established, you need a good way to compare vendors and their products directly. To ensure everyone on the buying team is confident in the final decision, use these four steps to ensure your evaluations are comprehensive and unbiased and based on requirements and criteria that really matter. By including the right perspectives at each stage of the purchase process, your buyer team will reduce the chances that something essential is missed. For example, teams that leave IT out of initial requirements discussions may overlook the critical need for incorporating implementation prep into even the early stages of the purchase process. 

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To effectively evaluate vendors, it is important to have a technology buying team in place, establish the business case for the solution, set criteria for evaluation, score vendors based on their fit with the criteria, consider third-party reviews, and continuously monitor their performance to ensure they meet the company's needs.