DPP: “Customer and vendor relationships healthy”
November 28, 2022
The DPP, the media industry’s business network, has published its most recent How To Buy Better report. After carrying out an industry survey and facilitating group discussions between customers and vendors, the report reveals the true picture about customer and vendor relationships. It contains information on how both parties would like to change procurement processes, and how to manage and improve ongoing relations.
“How to Buy Better reveals areas of complete alignment and striking differences of opinion between customers and vendors,” says DPP Editorial Director Edward Qualtrough, the report author. “Both sides report healthy relations and agree on what makes a good partnership, but they hold each other responsible for slow procurement processes and when relationships break down.”
Overall, the survey found that customers and suppliers generally have good relationships. Both agree that personal interaction becomes more important as the purchasing process gets closer to a buying decision. Customers and vendors alike are keen to reimagine the RFP, and believe product trials and proofs of concept are a better way to engage.
However, both parties have different views about market activity and the buying process:
· When it comes to the market opportunity, most media companies are finding a way to maintain tech investments – but suppliers might need to re-evaluate their ambitious sales expectations.
· Media companies and their suppliers are not aligned on which party is overseeing customisation and configuration. And in a SaaS world, customers need to customise less.
· Customers think they have good alignment between technology and finance, while vendors think otherwise. Buyers are keen to speed up their internal processes, but robust contractual, legal and commercial governance takes longer than suppliers like.
Mark Harrison, DPP CEO, added: “Media companies that are more visible in the industry, highly communicative and as open and transparent as they can be are likely to be rewarded with better quality vendor engagements. The buyers ultimately hold the power, and suppliers will benefit by listening to what customers are telling them about flexibility, support and responsiveness to become successful long term partners.”