How do you assess if a company is just saying all the right things or doing them as well?

Start by looking at the basics: Reputation, References, Longevity.

Reputation encompasses collective word-of-mouth, testimonials, endorsements, social media reports, and in some cases the lack of bad press. Negativity spreads like wildfire in today’s world. Virtually no one emerges unscathed because no company is perfect. But, if relevant negative reports are few and far between, you can generally take that to the bank.

References enable prospectors to zero in on information highly relevant to the challenge at hand. In our case, sometimes that’s implementations/conversions. In other cases, our billing, payment processing, cash distribution and critical reporting/analytics systems are relevant. Other potential areas for references include loan validation and audit services; custodial services; third-party and private label contact center services; and delinquency collections and loss mitigation.

Company longevity is sometimes taken for granted. However, given the abundance of available choices and resources today, companies will thrive—or even survive—a long time only if they consistently deliver quality, can pivot/scale in agile fashion, and deliver satisfaction and success to their clients, partners, and other stakeholders. Concord has passed the three-decade mark and continues to evolve and innovate in a world far different from the “early days.”

Examine the basics, then ask the hardest questions you can. If you’ve encountered the right company, your judgment and instincts will show it clearly and convincingly. Examine the basics, then ask the hardest questions you can.