Vendor Lists: Helpful or a Headache?

A basic Google Search for MDU PropTech Vendors will return numerous results including several “Top 10” lists of PropTech vendors that provide company background and business strategy but only a brief overview of the solution they offer. Other sites provide lists of vendors with only a company name, logo, and contact information available. The problem with these sites is that, while a list (or “Marketplace”) may give you a place to start, it doesn’t provide any of the valuable context needed to help you decide what type of PropTech to pursue or what vendor might best fit your needs.

PropTech implementations have more than a few pitfalls waiting for you if you do not know the territory. If you choose to use one of these ‘Vendor Lists’ and venture on the path alone, you can risk choosing a vendor that:

  • Over-promises and under-delivers on what their solution can do
  • Delivers an undesired result or even an inferior solution compared to industry standards
  • Provides a solution that is not sustainable or future proof
  • May or may not be around after the implementation
  • Causes you to repeat the implementation process with a new vendor before realizing a return on your initial investment

Innovative NOI can help you avoid the hazards hidden on the path to Vendor selection and PropTech implementation.

Providing More Than Just a List

Innovative NOI have gone to great lengths to ensure that their recommendations are unbiased and offered solutions are in your best interests. They have taken additional steps to ensure that each vendor solution is on an equal playing field when it comes to being included in a recommendation. You can be assured that no recommendation is incentivized by a vendor paying Innovative NOI an additional amount to be presented to more clients.

Innovative NOI have also taken a straightforward approach to how they manage relationships with vendors. Each vendor is required to submit their information and be approved through the vetting process before they are put in front of you and your organization. Regular audits are performed to ensure that the Vendors included in the program continue to meet strict guidelines. This ensures that, not only are the vendor solutions presented up to date, but also that they maintain a high standard in how they do business long term.

By maintaining stringent guidelines for vetting vendors, Innovative NOI can:

Better Educate their clients on PropTech solutions available

Control the quality of the vendors and the solutions that are presented

Reduce the risk of dealing with a vendor that will promise anything to just to make a sale

Recommend future proof solutions that will be relevant for years to come and supported by reputable vendors

When you engage Innovative NOI, an industry expert will work with you to understand your needs and present vendors that you can have confidence in; reducing the amount of time and risk that comes with choosing a PropTech vendor for your implementation.

Contact us today to schedule a call.

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