How to Improve Vendor Quarterly Business Reviews

Facilitating helpful Vendor Quarterly Business Reviews (or Vendor QBRs) can be a bit tricky the first time around. Nailing down a good process is key because no one wants to have their time wasted in unproductive meetings going over the same metrics and business reviews as always.

In this episode of P2PNow, we discuss what a Vendor QBR is and how you should prepare for them to get the most out of every meeting. Watch the session below or read on for a full transcript!

Transcription

Sam: Today’s question is how do you make Vendor Quarterly Business Reviews better?

Christian: What I love about this question is that it almost always starts with a question: What is a Vendor Quarterly Business Review or Vendor QBR?

Sam: Fair enough, let’s start there then. A Vendor QBR is a quarterly meeting where you review your business goals, set new goals, then draft a plan to meet those goals. 

If you don’t have a QBR with your vendor, ask at which tier of partnership these are typically performed. 

Christian: Vendor QBRs are a very useful activity to perform however they can often turn into the vendor just talking at the partner for an hour or two about metrics the partner doesn’t always have access to. 

Or worse, you review your business together for the first 15 minutes. Then, because there are executives on the phone, the vendors dives into a pitch on the set of solutions the partner should be selling. 

Sam: There are two very easy ways to avoid both of these situations. First, all metrics and KPIs should be shared to both organizations prior to the meeting. This is important because it allows the vendor and the partner time to review the content and think through their questions. 

Christian: I feel like that’s a general tip for many workshop type meetings. It’s always easier to say than easier to do for some reason. 

Sam: Part of that is just setting expectations. As the partner, request the vendor send over the deck they plan to present a week in advance. If they don’t send it, reschedule the meeting. 

The second tip is this: Make sure the management on the team that can set expectations for marketing, team training, and sales focus are on the line. Depending on the size of your organization this may be 2 or 1 person. 

It’s extremely important that the right audience attend these meetings. Often for partners, it’s a rare chance for executive leadership to meet. Having a person with the authority on the line can save weeks of back and forth when it comes to setting goals and developing a plan to hit those goals. 

Christian: As a final tip, make sure you don’t leave those meetings without setting goals. Even if it’s a short term to follow up with another team to set revenue, marketing, or training goals. 

Sam: Absolutely, if you just do those two simple things you’ll have much more productive Vendor QBRs. To learn more about AvePoint’s QBR process be sure to ask your AvePoint Rep. And to find out more about AvePoint’s Partner Program, visit avepoint.com/partners

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