Finding a smart tech solutions provider is not an easy task. The constant advancement of technology and the proliferation of providers in the market make selecting the ideal partner a complex challenge. Learn the guidelines and practices for making informed decisions.
Imagine the following scenario: you are in charge of making one of the most important decisions for your company: choosing a smart tech solutions provider. Someone who can offer valuable technological solutions to help your company reach new levels of productivity and provide a significant strategic advantage, boosting long-term profitability.
What do you do? Probably what many of us do. You head to Google to start your search. And this is where the choice becomes complicated. You find yourself with thousands of options. It’s worth noting that, according to Gartner figures, there are at least 585,000 technology provider companies in the U.S., employing around 6 million workers, according to Statista.
Another alternative you might consider for finding an ally is word of mouth. Ask your colleagues if any have had a positive experience with choosing a smart tech solutions provider. Opinions will be divided. Some might recommend company “X”, others “Y”. But the truth is that they’ll likely tell you that it all depends on the specific needs of your company. Not all providers are suitable for everything. Every company is a different world, and it is the provider who must adapt to the needs of the company, not the other way around.
This decision should not be taken lightly. The numbers prove it. According to a recent Gartner report, 70% of technology implementations fail due to poor selection of providers. This reveals the urgent need for thorough evaluation when choosing a technology partner. Before making any decisions, you should question everything because the risks associated with a poor choice are significant.
How do you find the ideal smart tech solutions provider?
Choosing an inappropriate technology partner can have disastrous consequences, from delays in project delivery to budget overruns. Deloitte highlighted in a study that 65% of companies experience delays in projects due to issues with technology providers. Furthermore, 45% of organizations incur financial losses due to misalignment with providers.
For these and many other reasons, to avoid the risks inherent in a wrong choice, it is crucial to carry out a structured selection process calmly and without rushing. Below, we detail key steps that we believe can help you find the ideal technology partner. Keep these in mind so that when the day comes, you are prepared to make the right decision.
1. Get your house in order: first define the requirements and objectives
Before starting the search for a smart tech solutions provider, it is essential to clearly define the project’s requirements and objectives. This may seem obvious, but it is a step that many companies omit. This includes identifying specific business needs, establishing selection criteria, and defining desired outcomes.
At this stage, you lay the foundations of the potential business relationship. It is very important to have a solid base. Therefore, consider the success statistics of similar projects. Invite potential providers to demonstrate their knowledge and quality of work with real projects that have been successful, ideally in the same industry.
According to studies by PMI, Project Management Institute, projects with clear planning and well-defined objectives are 60% more likely to conclude successfully. Moreover, organizations that align their technology projects with strategic objectives have a 38% higher chance of achieving their goals. Be very strategic and critical at this point, as it is the starting point for success or potential failure.
2. Do thorough research: almost like a stalker
By this stage, you should have very clear and defined requirements. This is where you need to conduct research beyond just a Google search or even just asking your colleagues.
To identify and evaluate potential providers, rely on key elements that confirm their professionalism, such as analyst reports, client references, and online reviews. This way, you can gather information about the providers’ reputation and experience. Use this information to rate each element and assess their potential.
Gartner studies report that 58% of companies do not conduct rigorous research before selecting a provider. They are swayed by first impressions. This increases the risk of project failure.
Don’t make this mistake. Minimize risks by investing the appropriate time to gather important data and opinions. According to IDC, organizations that conduct thorough market research are 45% more likely to select a provider that meets their expectations, which somewhat ensures a stable, long-lasting relationship with fulfilled expectations. What anyone in this process would want.
3. Evaluate every aspect: level of capability and experience
Make a top 3 list of potential providers to select. Having this list is an excellent start. Remember that it is very important to consider their experience and ability to solve various types of projects. Look for their success stories, ideally one aligned with what you are aiming for. Analyze each case study, portfolio, and customer references calmly and critically. This way, you can assess the suitability of all the information.
A report by McKinsey reveals that companies that select providers with specific experience in their industry have a 50% higher chance of achieving successful outcomes. Moreover, 68% of technology projects that have been successful are those where the providers have a proven track record in delivering similar solutions. This specific experience can make the difference between your company meeting its objectives or falling short of expectations.
4. Organizational culture is very important: evaluate it too
Yes, it’s true that technical capabilities are generally a very important input for the final decision. But it’s also important to consider the cultural alignment between your company and the potential smart tech solutions provider. Effective collaboration requires a shared understanding of values, vision, and work ethic.
According to a study by PwC, 55% of technology projects fail due to cultural alignment issues between organizations and their providers. Companies that consider organizational culture when selecting a technology partner are 32% more likely to develop long-term collaborative relationships.
This cultural alignment not only facilitates communication but also promotes a more cohesive and efficient work environment. Who wouldn’t want their provider to meet the promised quality and deadlines but also become a long-term commercial partner?
5. Bring out your “magnifying glass” for negotiating terms and conditions
At this point, you might be very pleased with your final decision and finding the right provider. But it is crucial to negotiate clear terms and conditions, where both parties feel they are benefiting. This includes agreeing on clear delivery times, budgets, performance metrics, and contract cancellation clauses.
According to a report by Harvard Business Review, 60% of disputes between companies and providers are due to ambiguous contract terms. Negotiating detailed and specific contracts can reduce these conflicts by 40%. Moreover, companies that establish clear and agreed-upon performance metrics are 50% more likely to meet established deadlines and budgets.
Finally, do not let emotions sway you
Choosing the right technological partner is a critical factor in seeking long-term success. Many companies focus primarily on selling their services rather than fostering relationships. They are more interested in the transaction and immediate benefits than in building a long-term partnership.
This approach often overlooks the value of trust and mutual growth, which can lead to potential failure. This mindset can limit the opportunities for meaningful collaboration and joint development. Make your decision with the utmost calm.
By following our recommendations, based on a structured and focused selection process, you can mitigate risks and maximize the value of your investments in technology. Remember, choosing the ideal technology partner is an investment in the future of your company.
Do you know why we wrote this blog? Because we are a different kind of company. At Interfaz, we care about building strong relationships beyond just offering services. Based on trust and mutual growth. If our clients do well, so do we.
Thanks to this philosophy, we have been working together with renowned companies for over 20 years. And today, we continue to work passionately to exceed your expectations and continue providing high-quality technological solutions that contribute to your business success.