Vendors Working Together

How MetaCX is Ensuring Vendor Value Delivery

September 29, 2021 | Written by Kolby Tallentire

Considering all the hours spent in evaluation, contract negotiations, and due diligence to onboard a new vendor, it’s in your organization’s best interest to monitor whether or not the company is delivering on the value promised. Unfortunately, in enterprise business, that’s rarely the case.

For every vendor contract, there are specific outcomes you are looking to achieve when the relationship first forms. Without a system in place to track value realization, however, these desired outcomes are often forgotten. As a result, many companies spend a large percentage of their operating budgets on third party products and services without proof of performance. Loyalty becomes the unintended side-effect of ineffective vendor management rather than the result of your success.

In order to better manage your vendor network and protect your bottom line, you need to create accountability for the achievement of your desired outcomes and keep value delivery the focus of each vendor partnership.

Guarantee the Value Promised

MetaCX has created the first-ever Business Value Network where companies go to manage their business relationships. Within the network, companies like yours are able to connect with their vendors through Bridges—co-owned digital spaces where two or more organizations can come together to define and collaborate on desired business outcomes. The Bridge keeps all parties accountable and focused on the goals, action plans, and evaluation measures necessary to achieve shared success.

To monitor vendor performance, MetaCX captures multidirectional data. Both the vendor and buyer in a partnership are able to instrument any application, system, or digital endpoint and share these disparate data points to a Bridge. Within the co-owned space, individual metrics combine into a dynamic, comprehensive view of performance toward the achievement of outcomes and help the buyer assess whether the partnership should continue long term.

Bridge Screen

How You Benefit

  • Set clear expectations for each vendor partnership by working together to define and document your team’s desired outcomes.
  • Ensure continuous alignment around your goals by collaborating with vendors in a shared digital space that ensures complete transparency.
  • Mitigate sensitivity to data access and control by leveraging a neutral third party platform.
  • Close the loop by establishing a true correlation between your investment and the achievement of your goals and objectives.
  • Visualize your own data related to the use, adoption, and effectiveness of vendor products and services.
  • Establish a consistent, repeatable process for proof of performance across your entire vendor network.

Learn more by requesting a demo today!

More Resources

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