Velocity Technology Partners Blog

How many vendors and subscriptions does your business rely on to function day to day?

Now, to ask a question that hopefully has (but very easily doesn’t have) the same answer: How many vendors and subscriptions does your business currently pay for?

Unfortunately, for most small and medium-sized businesses, these answers can vary widely, which often creates confusion and leads to wasted capital. Let’s talk about a simple and reliable way to help align the answers to these two key questions: vendor management.

Vendor management can sound like just another piece of business jargon. Actually, it’s much simpler than that. It’s the process of having a single point of contact—us—handle the relationship, the troubleshooting, and the procurement for every technology-related service you use.

Software as a Service (SaaS) is a double-edged sword. When managed well, it’s a high-performance engine for growth; when ignored, it becomes a silent bleeder, slowly draining your budget through automated monthly charges that no one is tracking.

The question isn't whether you need SaaS—you do. The question is whether your SaaS is working for you, or if you’re just working to pay for it.

The Trojan Horse didn’t succeed because the Grecian armies broke down the walls of Troy; it succeeded because the Trojans fell for the Greek army’s trick and brought the secret war machine—with a small group of Greek soldiers—inside their walls. It was a tactically brilliant plan, and ended what was reportedly a decade-long siege in a matter of hours. 

Whether or not the original story is based in truth, your business is potentially in danger from a similar issue: a threat coming in on what seems to be a trustworthy package. The difference is that this time, the package is a platform or tool you’ve procured from a third-party vendor.