With hundreds of ECMs to choose from, finding the right one is akin to finding a needle in a world-sized haystack. Getting it wrong comes at a high price. Horror stories abound – you may have one yourself – of failed ECM partnerships. In the worst cases, companies emerge with deep war wounds in the form of recalls, fines, lost sales revenue and reputational damage. Some of the top reasons companies end up with the wrong ECMs are:
- The ECM’s total abilities did not fully align with the customer’s actual requirements.
- The customer and ECM did not perform due diligence on each other and failed to ignore the gaps in reality.
- The customer took for granted that the ECM that looks great on paper must be great in real life.
- The customer didn’t ask the right questions.
Note that all of these pitfalls could and should have been avoided before any agreements were signed. De-risking your selection process, whether your goals centre around innovation, quality, profit, growth, gaining a competitive advantage or becoming a household name, the right ECM will be a key contributor to your success. So, yes, finding that perfect fit is worth the work. Notice we that we say ‘work’ not ‘risk’ because the right process empowers you to dodge common buyer’s journey perils altogether.
Dynamic Innovations developed a fact-finding questionnaire that helps both OEM (start-up, SME or multinational) and supplier identify suitability at the very early stage of the evaluation process.
We are looking for disruptor SMEs that need and want a competent ECM to manage their sophisticated product.
Contact us now to see if our sweet spot aligns and don’t forget to stay connected.
Kieron | CEO