Client needs are changing rapidly and they are constantly looking to tap into the business enablers, efficiencies, and revenue streams driven by new data analytics, automation, cloud computing, and other solutions. To accomplish this, they need their MSP to guide them through these changes, overcome challenges and leverage future opportunities.

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Furthermore, the MSPs require the same type of guidance and support from their vendor partners to address those changes. But choosing your vendor partner who truly believes in "partnership" can be an overwhelming proposition.

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Every MSP needs to vet a vendor to ensure they’re well funded, offer products that fit the customer's requirements, and have a partner program. However, finding a suitable vendor set is even more challenging in this constantly shifting landscape of solutions-as-a-service.

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Reviewing some core essentials to help you decide whether a vendor has what it takes to be a valuable partner is always sensible. Here are a few tips and tactics that can make the evaluation process easier to ensure success for both the MSP and its customers.

10 Things to Look Into Vendors You Partner With

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An MSP business should have a clear idea of what they need, evaluate what is on offer, consider whether there is good potential for collaboration, and have a strategic partnership with the vendor. Otherwise, its deliverables are at risk. 

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Now, consider the following factors to evaluate whether a potential vendor perfectly matches your MSP business.

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1: Do your customers need it?

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Evaluate whether the products or services the vendor offers benefit your clients and serve the purpose of your client's business requirements. Each vendor should add value to your client's business, and for this, you must first determine what is missing in your portfolio. Choose those offerings provided by the vendor that can fill the gaps to meet your customers' requirements in the best possible way.

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2: Will the service enhance your business?

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Sometimes there will be solution categories that will introduce opportunities to address other areas of their businesses apart from addressing an existing requirement for your customers. These solutions can open doors to recurring revenue opportunities and boost your portfolio offerings, making you a perfect technology partner for new and current customers.

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3: Is the vendor easy to do business with?

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The vendor you have chosen should make things simpler for your business. Check whether they have an official onboarding procedure to ensure a successful launch. They should have enablement tools to help you and your team understand the solution and have category experience to assist you in taking the solution to market successfully. It will be easier for the solution to be deployed for your customers based on the assistance they can sincerely provide you and your customers.

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4: Is the vendor reputable?

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As they say, "Reputation is everything". To find out more about the potential vendor, you can tap into your network of other trusted MSPs, association and alliance directors, or distributors. Inspect what they know about the vendor and whether it offers the services, solutions, and support you seek. Check their licensing, revenue models, product scalability, and compatibility with your existing and planned offerings.

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5: Are the services easy to deploy and use?

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One of the significant hurdles for solution providers who are new to offering services is adopting the required tools to provide good service. A vendor's cloud services application suite should be compatible with your other services, avoiding complexity. However, some products are easier to use than others, but if the product requires special skills or is complex to use, you will have to invest time in training.

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6: Does the company have a partner advisory board?

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Look for vendors with advisory boards that meet frequently, encourage sincere discussions, and respond to feedback. The board members usually have expertise in the various business areas of the vendor and provide practical insights, which also serve as a reality check. Vendors who depend on advisory boards develop solutions and products based on a roadmap of features that fit the market's needs. On the other hand, without an advisory board, a company will lack a formal mechanism for receiving feedback from the channel regarding its products and support services.

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7: Does the vendor have access to resources?

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The vendor should be able to provide the MSPs with training opportunities and educational materials. Typically, good vendors have resources on a variety of relevant topics which the MSPs can access that can help them grow their business, generate leads, and market their services.

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8: Will the vendor provide quality service and support?

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Back-office and partner-facing employees are both equally responsible for managing cloud service reliability and uninterrupted uptime. Ensure that the back office team is readily available by phone and email, enabling easy access to the management in case of crucial issues with your product or service. The vendor should provide a dedicated contact assigned to your account whom you can reach for support. 

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When evaluating before zeroing in on a vendor, if you have queries or needs, test the vendor's support offering. The first impression says everything. In case you end up getting generic outsourced support, how will they perform once they already have your money?

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9: Do they have incentive programs for top-performing partners?

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Find out what is the highest margin you can expect with this association. You achieve premier status by choosing a single vendor for a specific technology; your status, support priority, and partner margin should also increase as your sales grow. The profits of a premier status should be more than just a few extra points. Check if the company's partner program offers lead generation, MDF, and flexible purchase options.  

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10: Can you increase revenue?

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MSPs serve as reliable technology advisors to their customers and make their money on the services around a particular product. With the SaaS licensing model associated with the cloud, it's easy to package licenses into a comprehensive service pack. Choose a vendor who integrates well with the other offerings, such as security solutions, on-premises storage, etc., which will facilitate maximum revenue prospects for the MSP.

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Wrapping It Up

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Choosing the right vendors upfront will help avoid hassles in the long run. Take time to assess the vendor's partner program, training or educational resources, incentives for top-performing partners, and maturity of the company and its products. Analyze the vendor's competitors and how they compare, and always look for established vendors with a good track record for growth and progress. The key is to find the balance between innovation and stability.

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While working with multiple vendors at once can get overwhelming, Zomentum makes it easier! Our partner-first approach allows you to find, sign up and begin working with multiple vendors at a time, along with finding ways to increase revenue and save costs. 

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Book a demo with us today to scale your MSP business to new heights.

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