The phrase “auto enrolment solutions” means a lot irrespective of your stature as an employee or an employer. A solution of auto enrolment may therefore, mean a gamut of activities including those of the financial accountants, advisers, employers, and employees. To illustrate this further, a solution here for the accountants would mean a complete solution for the accounts preparation, payroll management, pension, and implementation. Similarly, a solution for employees here would mean a complete guidance and management on the portfolio of investments befitting your personal financial goal in life.
However, the crux is that there is no scarcity of such solution providers in the markets around the world. As such, finding the best partner for the auto enrolment solutions among them is important. Here is a blanket advice on how you should proceed here befitting your coveted goals.
- Listing: You may not know who all are there in your market that offers the same kind of solutions befitting your business. It is, therefore, important to know the vendors first using online and offline resources. Make a detailed list of such vendors.
- Reputation check: Now, speak to the industry people asking for their inputs on the vendors. Alternatively, browse through the pages of the vendors and the online review portals like Yelp, Trustpilot, and others. You will certainly get some idea and rating about the services and the quality of such vendors.
- Grading: Based on the findings here, grade the vendors and then, pick a couple of them, say 4 – 5 vendors at this point for going further.
- Personal interaction: Send e-mails and talk to them directly for finding out how serious they would be for your job. Again, rate these vendors based on your personal understanding of them.
- Short listing: Choose the top rankers here. Out of 4 – 5 vendors, you can now settle down to 2 – 3 vendors.
- Commercial negotiation: Money is important everywhere. Your endeavour for the selection of a vendor for auto enrolment cannot be any different. As such, commercial negotiation comes up as the next step here. Talk to these vendors individually on the commercial part of their services. You can even invite them for a personal deliberation at your office.
- Awarding: Based on the findings of your successful negotiations with the vendors, award the job to the lowest bidder. However, you may keep the second best in your list in case of an emergency.
You should know here that there are companies that offer a free consultation. As an individual or a company, you can benefit from this service. Also, don’t forget to check other things like customer service and after sales service. These services are crucial for a smooth functioning of your auto enrolment system in the near future. After all, selection of a partner here is not a day. You ideally look forward to working with a partner for months as long as the relationship fructifies befitting everyone involved here. Make a conscious choice always for staying blessed with the partner for the auto enrolment services.