Program managers who use VMS technology should focus on conducting QBRs (Quarterly Business Reviews) with their technology partners to develop a strategic initiative and follow-up on operational items.
As a program manager, you know the importance of building relationships with your technology partners.
One way to improve these working relationships is to conduct quarterly business reviews (QBRs), also known as business reviews or executive business reviews. These are meetings with your technology partner where you discuss your business and how the technology can support you.
The greatest potential for contingent labor success lies in viewing business reviews as a strategic activity that helps grow your business, rather than as an item to check off your “to-do” list.
These reviews also allow visibility into your staffing expenditures, engaging and managing quality talent, and managing multiple staffing providers. The technology should be the bridge that connects your organization with the contingent workers you engage.
QBRs are more than sales conversations or an opportunity to discuss support questions. Focus on the drivers and initiatives that you value or that you feel need to be addressed and create a plan to follow through on these items. Look to your VMS partner to share best practices and new technology initiatives that could benefit your business.
When you approach QBRs the right way, there is much to be gained. All you need is the right perspective and a few recommended best practices for getting the most value out of the exchange.
Although scheduling time for business reviews can be an afterthought, it is necessary to ensure your program success. Making time to discuss strategic elements, initiatives and business challenges with your technology partner will drive your program forward. You’ll also gain organizational support and insights into the contingent staffing industry.
Best Practices for Conducting Business Reviews
Here are a few tips on how to leverage quality business reviews:
- Use QBRs to gain insights into how the technology can help your company.
- If you’re not doing business reviews now, put together a 60-to-90 day plan to begin QBR conversations with your technology provider.
- Engage the right stakeholders. For QBRs to be effective, you need all of the players at the table. For example: if you use a Managed Services Provider (MSP), make sure they are engaged in the review.
A quarterly business review is an investment for organizations. Conducting regular QBRs offers the potential to forge a stronger, more productive connection with your VMS partner. Strategic conversations with partners help build a shared sense of purpose and trust. When your business review reveals opportunities to improve, it becomes easier for your business to achieve its long-term goals and can also open up opportunities for new business. Are you conducting QBRs with your technology partner? To read more about the benefits of working closely with your strategic client relationship manager, click here.