Special Report: Vendor Relations

Merchants are sometimes leery that more comprehensive accounting and chargeback policies may upset vendor relationships they’ve worked long and hard to develop. Along with weighing that possibility against the probability that improved vendor compliance will reduce costs and improve customer service over time, consider that a well-defined document in which requirements, expectations and penalties are spelled out ultimately removes ambiguities, ends misunderstandings and results in even better vendor relationships. And if your vendors deal with large retail companies, they’re already used to compliance policies.