3. Then, weigh the margin proposition carefully                                      

Let's be real: if a solution provider holds elite certifications, it's because the company has spent a lot of time and money earning them. What's more, since most higher-level tiers in high-profile partner programs include some sort of customer satisfaction component, those client relationships are something any vendor would love to exploit.

That's another reason that GreenPages and Cloud Sherpas are both highly selective about which new vendors they are willing to represent.

Once a new product passes muster on the technical side, GreenPages requests a deep dive with the company behind it, so that it can understand all the nuances of its channel program — not just the sales margin model but also how much demand generation support might be expected.

Since Cloud Sherpas if focused strictly on Software-as-a-Service (SaaS), it looks carefully at the arc of recurring margins and whether or not there's value over time. "We need to ensure that this stays consistent, if not higher," Shepard said. "Also, we need a partner who will help with demand generation. After all, we are going to walk [these companies] into our largest accounts."

Have a vendor selection process that is particularly effective? Share your ideas with the editors of ITbestofbreed.com.