In a recent study that was conducted by the SAP Business Partnership, results concluded that the relationships between small businesses and their Information Technology (IT) vendors are very complex. One might believe that most of these relationships are based on monetary agreements only, but that person would be mistaken. This study shows that there is a lot more to the association between these two parties than originally believed.
It appears, based on the SAP Business Partnership Study, that trust is the defining factor in the relationship between small and midsize enterprises (SME’s) and their IT vendors. Unlike larger companies that may thrive with complete in-house IT departments, SME’s often do not have the monetary or physical resources to have complete in-house IT departments; thus, the need arises for them to hire outside IT vendors.
Although financial capabilities may play a part in hiring the right IT company, this study shows that trust is much more important. In fact, more than three-fourths of the business leaders that were surveyed acknowledged that trust and cultural fit were more valuable than getting a good financial deal. Furthermore, many of these business leaders stated that the relationship between their company and their IT vendor was not only purposeful in providing IT services, but also in advising, consulting, and supporting the company, too.
These findings represent a movement of SME’s, with their longing to create a stable, deep, long-lasting relationship with their IT providers. IT is such an important and massive aspect of business in today’s society that a small business needs to have a powerful and dependable relationship with their IT provider so the company can grow, thrive, and compete with other businesses of varying sizes.
This perspective of building business relationships based on trust and co-dependability may prove sustaining and innovative as far as SME’s are concerned. On the contrary, if business relationships are built solely on a financial basis, then the relationship may prove not as rewarding or sustaining in the long run. This is something for business leaders to strongly consider.
At RedWave Technology Group, we strive to build strong relationships with each of our clients. Schedule a free consultation with us to determine if we would be the right fit for your business.