Part 3: Bridging the Buyer-Seller Divide

A chasm of mistrust and misalignment threatens to swallow the TEM industry whole. The current buy-sell process is broken, wasting time, resources, and opportunities. This dysfunction has created a lose-lose situation, stifling innovation and preventing the formation of true strategic partnerships. We stand at a pivotal moment.

The urgent need for change

1. Broken Buy-Sell Process: The current process wastes time, hinders communication, and ignores relationship-building. It’s driven by the lowest price rather than value, creating a lose-lose situation for all parties involved.
2. Misaligned Expectations: Enterprises often conduct “fishing expeditions” without real intent to buy, while vendors pitch smoke and mirrors, misrepresenting their capabilities. This erodes trust and stunts industry growth.
3. Procurement Roadblocks: Procurement departments frequently impede direct communication between buyers and sellers, hampering the development of crucial relationships that drive success.
4. Value Beyond Cost Savings: The industry’s myopic focus on hard-dollar cost savings overlooks the broader value that TEM can provide, such as accurate inventory management and streamlined invoice processing.

A vision for a transformed TEM industry

Imagine a TEM landscape where:

• Buyers and sellers engage in open, transparent communications throughout the process.
• Strong vendor-customer partnerships focus on solutions rather than penalties.
• The industry recognizes and quantifies value beyond mere cost savings.
• World-class Technology Management Centers of Excellence contribute to strategic business results.
• Both buyers and sellers actively help each other identify growth opportunities.

Call to action: Steps for immediate implementation

For Buyers:

• Stop issuing RFPs without genuine intent to purchase.
• Involve business stakeholders early in the process, not just procurement.
• Look inward to address internal challenges before switching providers repeatedly.
• Commit to transparent communication with vendors throughout the buying process.

For Sellers:

• Cease making unsupportable claims about being the “only” provider with certain capabilities.
• Focus on understanding prospects’ business problems before pitching features.
• Differentiate based on value, not just price.
• Be honest about capabilities and limitations, proposing collaborative solutions where gaps exist.

For both:

• Adopt a new, streamlined buy-sell process prioritizing relationship-building and mutual understanding.
• Commit to regular, open communication throughout the engagement.
• Focus on building true partnerships that drive business results beyond cost savings.