How to know when it’s time for a change of supplier

December 11, 2022

Opinion Piece

Originally published on MaltaCEOs here.

Adrian Farrugia employee portrait

Article by Adrian Farrugia

COO at Cleverbit Software

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In this article:

There is a multitude of reasons for a business to feel the need to change a supplier. Being acutely aware of your relationship with suppliers is essential for any business leader to feel confident in their operations. Here are just a few examples of signs it’s time to consider a change. These are based on our experience in the IT industry, and by clients who’ve come to us at Cleverbit after a negative experience:

You know it’s time for a change, now what?

First, take the time to step back and analyse what went wrong. What were the pain points of your failed relationship with your previous supplier? What worked well? Get feedback from your employees.

Make a list of requirements you need from a new supplier, and make it detailed.

With that list in hand, start talking to new vendors. Ideally, speak to a lot of them. Conventional wisdom says you should speak to at least 3 - we’d recommend doubling that number if possible.

Oftentimes, the more you talk about the requirements you need, the clearer the issues become and the more accurate your next selection will be. Make sure all the boxes on your list are ticked by this new supplier.

Here are a few other things to consider when choosing a new vendor - especially in the IT space:

Time to take action

Once you feel you’ve done your homework and are confident in your new selection, don’t hesitate. Like any less-than-ideal relationship, you might feel trapped. But remember, no supplier, especially an IT-related one, have you by the ears. Skilled professionals can quickly understand the work that needs to be done to transfer things over. Make that move.

Founded in 2016 and headquartered in Malta, Cleverbit Software is a prominent custom software development company, employing over 70 skilled professionals across Europe. Specialising in custom software for business efficiency, we cater to a diverse international clientele, including sectors in Malta, Luxembourg, Denmark, the United States, and the United Kingdom. Our commitment to delivering tailored, industry-specific software solutions makes us a trusted partner in driving business innovation and efficiency.

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