Considerations for short-listing of Vendors- Part 2

The next that comes to the mind of the buyer is whether the vendor has done everything that needs to be done and set up all that is required to be put in place to manage security of data.

This is a biting issue and a major pain area. As an Indian LPO, you need to implement all security requirements and data security plans. The necessary configurations must be in place and you must elaborately speak in your website about all the data security measures that you have put in. Care must also be taken to ensure that no employee of yours can take data out of the office premises in any manner and that data that you are entrusted with is secure.Planned security checks at every entry and exit point and etc must be implemented.

An existing relationship between the vendor and the proposed buyer in any other field of work, adds great mileage to the credentials of the vendor. For example if you are an IT company already working on IT assignments with the buyer, and in the current deal you are pitching in for off-shored legal assignments from the same buyer for your newly established LPO; you shall definitely be a step ahead of the other contenders for the same work. This example is just illustrative and not exhaustive. There could be many such other existing relationships.

Operating out of multiple geographical locations is another aspect that brings you more than many clients. A vendor having operational set up in more than one geographical location is in a better position to meet the needs of different category of vendors. Some buyers might not mind far-shoring while others may be comfortable only with near shoring, so with your very many offices you can serve all of them. This multi-location has another advantage, it assures business continuity. For example you are a vendor with operational set up in City X in India and also at Philippines; a riot breaks out in City X in India and your employees cannot come to work for a week, there are enough chances that you will be able to maintain your support from Philippines. This gives you a point to add in the negotiation meeting.

Professionalism counts, buyers do try to gauge as to whether the vendor is a company that speaks and acts in different directions or does it back up all its communications by appropriate actions. It is necessary that you practice and display enough professionalism in your dealing with the foreign buyer and create a track record of professionalism for your future deals.