The Cheapest Vendor
- November 19, 2015
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Companies are often after the cheapest vendor for a project. Not the best. Not good enough. The cheapest. Or, if they’re being careful, the least expensive vendor.
But in BPM, the cheapest vendor is actually the one that gets you the successful outcome your business is after. When vendors fail to deliver the projects they sell, they’re not the cheapest – they’re actually the most expensive. There’s a reason behind the expression, penny-wise, pound-foolish.
The right way to measure how cheap, is to measure how expensive success is, not how expensive failure is. If you are buying failure, it can be bought cheaply. If you are buying success, the cheapest vendor in BPM is BP3.