Soliciting a vendor’s services and ensuring that projects are handled seamlessly requires more than just run-of-the-mill service agreements. According to CodeForce 360, BPOs can run a steady flow of operations through vendors only if they consider critical factors which serve as “the” important metrics in order to taste success in the long run.
In this article, CodeForce 360 presents a list of factors which are to be considered while measuring a vendor’s performance:
METRICS THAT MATTER
1. Account management skills: This measures the number of visits made by vendors to keep assessing and
reviewing their accounts with BPOs.
2. Technical transparency: This includes vendors providing access to their in-house technical and operational
experts, development projects, and plans to bolster productivity.
3. Trust: This can be measured by stacking up the targets set by vendors against targets achieved.
4. Adaptability: This is a cumulative assessment of factors such as their ability to swiftly adapt to a change in
trends/requirements, contractual tweaking, negotiation-related changes, and disputes.
5. Response times: The success/failure of projects is predicated on their ability to provide swift solutions and be
proactive when it comes to operational changes. This helps measure them all since time is money.
6. Innovation: Another factor which helps measure how vendors adapt to trends. Innovation is a key factor as
vendors constantly need to create and come up with fresh products and operational procedures to help BPOs stay
7. Improvement: While minor obstacles are common among vendors catering to BPOs, there needs to be a
constant effort to learn from mistakes and ensure that project flows remain seamless.
8. ROI: Perhaps the most important metric to measure a vendor’s performance. BPOs need to constantly run the
math on returns and see to that there are no red flags. This is because a BPO-vendor partnership is underpinned
by a healthy return on investment.
BPO-vendor partnerships are as tricky as they come. CodeForce 360 has observed that a great deal of companies tend to miss out on juicy ROIs and operational benefits since they do not consider the aforementioned metrics. In order to be able to reap the best beyond service-level agreements, it’s a must for BPOs to take these metrics into account while keeping an eye out for the finer nuances that define the course of things to come.