Why a service aggregator platform is crucial for startups and SMEs

In an intensely competitive business climate, companies need every advantage possible. They need to employ the best people, use the best tools, and partner with the best vendors. While businesses have control over whom they hire and the tools they use, they have less control over selecting vendors.

There are several reasons why it is difficult for businesses to partner with the right vendor.

Challenges companies face in selecting vendors

Selecting a vendor is not easy. There are only a few dedicated platforms where businesses can scout for companies with which to partner. Most companies that need the services of a vendor use a search engine to find one. While performing a search on a search engine is easy and quick, the search results may not be relevant. A search engine spews out results without taking into consideration the unique needs of a business.

For instance, when a startup in need of a digital marketing agency performs an online search for such an agency, the results displayed by the search engine don’t take into account many factors. The startup may need the services of a digital marketing agency that specialises in serving startups that are exclusively in the logistics domain. Similarly, online searches for chartered accountants display every accountant under the sun without considering whether the accountants are skilled in serving companies in a single industry.

Every result for a vendor on search engines produces an excess of information only a fraction of which is useful. Using search engines to find vendors can lead to partnerships that don't work. Every vendor knows how important it is to be ranked high by search engines. Even the least talented businesses do their best to have a good rank on Google, Facebook, and other platforms. Hence the probability is high that when a company searches for a vendor online, it ends up using the services of a mediocre business.

Lack of quality and transparency

There are abundant mediocre businesses in India. Many such companies expand greater resources on being ranked well by search engines than they do in their day to day activities. As a result, well-managed businesses often end up partnering with companies that are not very good at what they do. The quality of output from such associations leaves much to be desired.

Also, transparency in business is a challenge in India. In many instances, enterprises know too little about those with whom they partner. Without sufficient knowledge about their associates, companies can't make informed decisions. They may be taken for a ride by their partners. Quality relationships are difficult to forge without transparency.

Service aggregator platforms solve these challenges

Unlike the unstructured and often irrelevant results produced by a search engine, service aggregators provide an output that is tailored to the needs of businesses. Hence a logistics startup that needs the services of a digital marketing agency or chartered accountant will be paired with a firm that is uniquely qualified to serve the company.

Aggregator platforms use data and machine learning to learn about the requirements of businesses. Using such data, they gain subtle insights into the kinds of services a business needs. After having acquired such ideas, they match the company with the best-suited vendor. The results produced by an aggregator are not exhaustive; instead, they are limited to companies that are the best possible match for a business. With such strict criteria in place, companies can rest assured that every vendor displayed by an aggregator, is among the best possible considering its needs.

The quality of companies listed on aggregator platforms is very high. That's because such platforms vet every business that wants to register on their portal. Only companies with the most excellent credentials are allowed to register. As a result, the quality of partnerships formed from such platforms is impressive. The output of such associations always meets the expectations of the participants.

Furthermore, the system overcomes the lack of transparency that exists in the market. Every business registered on such portals is required to share information that would be vital to a prospective partner. Hence businesses that want to partner with a company have all the information necessary to make an informed decision.

A rating system further adds transparency

In addition to using machine learning to match businesses with vendors, and a thorough vetting, service aggregators, let every company listed on their site be rated by users. With such a rating system in place, every business has a fair idea about the quality of service it can expect from a vendor. Unlike search engines on which ratings can be manipulated, on service, aggregators rating can never be manipulated. Hence the rating score a vendor receives reflects the exact quality of its service.

Aggregators build trust between vendors and businesses

When a business searches for a vendor using a search engine, the relationship between the two has to be built from scratch. On the other hand, when a company finds a vendor on a service aggregator platform, both have much information about each other. Such information- in the hands of both businesses- serves as a foundation upon which a long term relationship can be built. Hence the business relationships forged on service aggregators are likely to be more amicable and fruitful than those formed using search engines.

The community atmosphere found on aggregator platforms means that there are immense trust and harmony between businesses that use such platforms. Such confidence and unity are challenging to create between companies that connect using search engines.

Businesses that use a service aggregator platform have a massive advantage over companies that don't. A service aggregator platform makes it possible for a business to forge long-lasting, productive relationships with vendors that are superbly qualified to fulfil its demands. The sense of community found on service aggregators cannot be found on search engines. This sense of community, along with a rating system creates transparency that benefits everyone using the aggregator.

By Rohan Raj Barua, Co-Founder, ExMyB