diversify mitigate risks

Diversifying & Mitigating Risk on Rental & Destination Service Providers

As demand grows, companies should find themselves deepening their resources to reduce vulnerabilities. At PorchLight, as demand in a region grows, we make sure to continue seeking out and training new partners to ensure high service standards. RMC’s and corporations should be doing the same, especially in high volume markets or with high volume clients.

Do you have a need to deepen your resources? How do your current DSP’s measure up in the most critical segments? Do your current DSP resources put you at risk?

Some of the five categories that you can consider and evaluate:

Stability & Viability

  • Is the DSP committed or an arm to direct business to more profitable segments?
  • Service & Reputation-Have you researched to know this information?
  • Diversity-Are they diverse?
  • Do they have and embrace IT security compliance?
  • Do they follow High Corporate Social Responsibility Standards?
  • Do they meet your Strong Ethics Policy & Requirements?

Performance (Cost Metrics and Reporting)

  • Does the DSP align performance management with what you value?
  • Do they track results?

Onboarding

  • Do they have Training and customization processes to meet client requirements?
  • Are processes in place to manage & measure performance at every level?

Efficiency

  • Does your DSP drive administrative efficiencies?
  • Do you have Business Process Management Rules in place?
  • Do you have a dedicated Account Management Team that is empowered to do what’s best for you and your client?

Partnership

  • Does your DSP work for you?
  • Are they ethical in their businesses practices?
  • Do they work aggressively for you to negotiate with landlords and reduces costs at every opportunity?

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Your company has their own corporate culture. It’s important that destination service providers embrace the same values as your organization.

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