On the one hand, the rapid advance of technology, with developments like automation and digitalisation, has increased what customers expect from service providers. As a result, there are greater demands in terms of connectivity, real-time visibility, reporting, and 24/7 support. On the other hand, as more governments and tax authorities worldwide implement new mandates to combat tax evasion, businesses are forced to transform their finance processes, raising the requirements to (and the pressure on) their service providers.
With demands becoming increasingly complex, it can be challenging for one company to meet all aspects of a given project, especially for smaller or niche software/IT Service vendors. For any business, engaging in an area outside of their expertise and strengths can negatively impact the brand and the customer relationship and take focus and resources away from what they do best. This is where a strong partner strategy comes into play.
Naturally, partnering to fulfil customer challenges is not a new concept for IT Solution Vendors – but historically, a partnership tended to be more of an informal relationship, consisting of ad-hoc, tactical responses to customer projects. In many cases, teams were not aligned, so they could not adapt and respond to client requests. The result would often mean presenting multiple services for what the client saw as a single requirement.