BlogDan Kallen5 Key Benefits of Establishing Long-Term Rental Business RelationshipsJuly 10, 2014August 14, 2023In today’s fast paced eRFP and digital proposal world, is “long term” a dead phrase? I think not. There are many benefits of sticking with one vendor over the course of several years. Whether it is for business continuity, litigation support or training services – having a supplier or group of suppliers you can count on makes all the difference in the world when it comes to timely, accurate service. 5 Key Benefits of Business Relationships 1). Saves Time Think about it – every time you issue a RFP, you have to determine who to send it to, how many responses you want and then, you have to review the responses, interview the vendors and choose one to do business with. If you have a business relationship with your vendor, say an audio visual rental company, all you have to do is call them up, email the specs, obtain the quote and you are off and running. 2). Ample Negotiating Power When you have a long-term relationship and are willing to sign a multi-year or multi-location contract, your supplier knows they will have a book of business with you. They are more willing to give you better discounts, throw in some freebies and attend to your “last minute” requests at a fair price. Remember, your supplier wants long-term business relationships with you because they know the effort it takes to go out and woo a new client. They are going to do everything in their power to make it work. 3). Priority Handling When you have a long-term relationship and need something special, your request is going to be handled with immediacy. You know the players and they know you. 4). Suggest Creative Alternatives When you are working with a supplier for a long period of time and they know your budget is limited, they will be more apt to suggest alternative days, times and rental equipment that will save you money. They can also put their creative juices to work because they are familiar with your company, training and/or events. If you need to rent a computer or audio visual equipment, there are a plethora of choices. By trusting and relying on your vendor, they are going to suggest choices that are going to make your budget and explain the differences between technology offerings. 5). Part of the Family I recently spoke to one of my long-term clients and we were having a lively discussion about a contract I presented to him. He turned to me and said the following, “I know you. I trust you and I know you are going to do what is best for my organization.” Wow! That is exactly why you want to build a long-term business relationship. You have each other’s back. In summary, choosing a vendor you can trust and work with takes time and energy. But if you do it right and trust your choices, the time factor decreases as the trust factor increases. About Us Hartford Technology Rentals can provide your organization with a total solutions rental package. Discover the benefits of building long-term rental business relationships with Hartford Technology and how we can help with your bottom line! Contact us today at 888-520-5667.