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Researching Potential Tech Providers

Researching Potential Tech Providers

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Installment 4 of Pioneering Progress - Rethinking Tech Adoption from the Inside Out

In the first three installments of this blog series, we discussed how to identify the business need when evaluating new technologies (what problem am I solving?), how to gain buy-in from stakeholders (critical to ensure everyone is working toward the desired outcome) and how to determine your budget (matching the investment to the ROI). In this third installment, we'll discuss the next natural step – how to adequately research potential new tech providers.

Too often, Operators will take a call to learn more about a product without first researching some basics about the solution. Believe me . . . given the often overwhelming level of outreach from sales professionals, I understand succumbing to the ask for an introductory chat or demo. But it actually may be worthwhile to pump the brakes a bit and come to the initial call as informed as possible.

As someone who has been on the provider side of the industry for over 15 years, I promise that it will not hurt a true supplier professional's feelings if you say you aren't ready for a call. Providers in this space would rather have high-intent prospects who have done the background work on understanding the pain point they're trying to solve, as well as some preliminary research on whether or not our product may offer a solution. Trust me, we don't like wasting your time or ours.

It's worth mentioning pilots when talking about being prepared for next steps. A client recently mentioned that she sees far too many companies in the space "pilot just to pilot," without being intentional about defining what success will look like as metrics for moving beyond a pilot (or not). We couldn't agree more . . . this is a waste of resources for everyone involved. Be intentional. Be honest with the supplier about your reasons for a pilot and metrics for success. Be responsive and mindful with both the supplier and internal stakeholders who will be measuring the pilot results.

What to do? Research the different solutions in the space before setting up calls or demos. Speak with peers who might be using the product and what problem they were solving when implementing that solution. Use tools like Revyse, LinkedIn, or industry blogs to compile a list. Talk to trusted supplier partners to get their thoughts on a solution, the organization and the key people involved (we all know each other or may even have worked together!). Be intentional and become informed before investing your time and resources.

Next Steps:

  • Evaluate providers on:
    • Capability
    • Reputation
    • Onboarding
    • Support
  • Consider data security and where they build their technology
  • Create an RFP or a requirement list for your list of providers and ask them to submit this prior to a demo
  • Establish an evaluation timeline by which you want to identify the final contenders and ultimate choice


Questions to ask:

  • Does the provider have a strong software team?
  • Who do I know and can speak with who has experience with this provider or a key person on their team?
  • What kind of reputation do they have for delivering and being proactive?
  • Do the product features align with the problem I need to solve?


All solutions are not created equal. It's imperative to make an informed decision based on both your needs and the capabilities of the tech solution.

 

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