Strategic Sourcing Professional Services
Source One provides practical guidance that will help you contract independent consultants and professional service providers and negotiate human capital agreements to your advantage.
Many organizations use professional service firms to support various components of their corporate strategy, from general management consulting to legal services, and even IT. As the use of third-party professional services providers increases, these firms can become strategic allies deeply embedded in a company’s operations. To ensure the maximum value is achieved from these strategic relationships, it is important for a company to select the ideal professional services firm for their unique situation, and to negotiate a best-in-class contract.
Source One understands the challenges associated with dealing with the professional services category, and, as a professional services firm ourselves, how necessary they can be to your company’s operations. Our purpose is to help your organization sustain a competitive advantage by improving relationships with your incumbent professional services providers, or assisting you in the selection of ones better suited for your needs and corporate culture. Our strategic sourcing services provide the means to deepen relationships with incumbent professional services suppliers as well as the market intelligence and supplier identification services necessary to identify best-fit suppliers in the market.
Our strategic sourcing team takes a holistic approach to evaluate your organization’s engagements with professional services firms beyond the pricing and performance dimensions. We look at the alignment of the services being provided by each professional services firm, conduct in-depth assessments of the teams and resources assigned to your account, and bring in real-time market intelligence to determine the financial competitiveness of your supplier relationships.
Our suite of strategic sourcing services will allow you to:
Analyze the professional services marketplace to understand characteristics and identify roadblocks such as international tariffs or regulations.
Establish professional services skillsets and determine if core competencies and service offerings are tailored to your organization’s needs.
Evaluate rate cards and pricing of the professional service resources and establish their competitiveness against the market. Determine if offshore or nearshore resources can be applied.
Identify incentives to improve relationships with your incumbent professional services suppliers, and consolidate your base of professional services firms.
Leverage any of your organization’s strategic service requirements that may overlap with incumbent suppliers’ capabilities.
Develop a benchmark for professional services, detailing rates, job descriptions, resource titles, and supplier base to ensure your company is receiving best-in-class service.
Negotiate and improve the contractual terms and conditions, pricing models (capacity-based vs. fixed pricing) and rates on agreements with professional services providers.
Source One provides each of our clients with a tailored suite of strategic sourcing services that delivers exceptional value while comprehensively addressing each of their needs. Our industry expertise, in-house subject matter experts, and proprietary volumes of real-time market data combine to align services from consulting firms to your needs and requirements.
Our strategic sourcing model is all-encompassing, flexible and scalable, and will allow your organization to reduce the overall costs allocated to professional services while securing favorable contract terms and performance levels, and ensuring scope alignment, from the professional services suppliers.
Source One’s strategic sourcing team has assisted a multitude of clients with diverse professional service assortments and helped optimize their professional service portfolio across a wide range of categories that include:
- General Management Consulting
- Internal & Financial Audits
- IT Delivery & IT Strategy
- Marketing & Advertising
- Legal Advisory Services
- Strategy Consulting
- Healthcare Consulting
- Risk Management, Governance & Compliance
- Actuarial Consulting
Contact us today to find out how Source One can leverage our strategic sourcing processes and expertise in professional and consulting services to optimize spend and secure favorable contract terms with your organization’s professional services providers.
Strategic Sourcing Marketing Services
As corporate mandates to find savings and reduce costs grow stronger, Strategic Sourcing groups have found themselves working within spend categories that have traditionally been off limits, including Marketing & Sales. Source One has found success for our clients by leveraging our negotiation, supplier relationship management, and implementation & administration skills to improve agency relationships for their internal marketing groups.
The client was a global pharmaceutical company looking to onboard agencies for the marketing of a product that was due to hit the market. A variety of marketing agencies were needed – from creative, to digital, to public relations – and all needed to have previous experience marketing a niche product to a small base.
Source One’s Marketing strategic sourcing team served as decision support in the engagement, assisting the pharma company’s internal brand team as they navigated the market and identified agencies. Each agency search had our Marketing strategic sourcing team identifying ideal suppliers, conducting RFx proceedings to narrow down supplier fields, and coordinating pitch presentations with finalists. Once the pharma team identified their finalist, Source One’s marketing services team leveraged our deep database of proprietary market intelligence and industry best practices to validate quoted hours and develop an optimal rate card.
Overall, Source One assisted the pharmaceutical company’s brand team in identifying, negotiating, and contracting with all relevant Marketing & Advertising agencies to support the launch of a new product.
Strategic Sourcing IT Services
As technology shifts, hosting options increase, and SaaS implementations continue to rise, many IT departments have found that their traditional hardware-oriented roles are being supplemented, and in some cases replaced, with management duties over third party service providers. As many IT groups do not have the time or the resources to manage these third-party IT professional service firms, it is an avenue where Strategic Sourcing’s skills can be useful. But, like with Marketing, IT has traditionally been an off-limits category and, as a result, may Strategic Sourcing groups may not realize their full value in the category.Source One can help!
In conjunction with Corporate United, the nation’s largest group purchasing organization, Source One’s IT & Telecommunications strategic sourcing team prepared the IT Insights Report, which details the ways in which Strategic Sourcing can deliver value to IT groups, the advantages of cross-departmental collaboration, and methods in which the two groups can collaborate to provide value to the organization as a whole. The IT Insights Report from Corporate United and Source One is available as a free download from our Whitepapers directory.