Re-negotiate Key contracts to deliver value across the business (through existing or new suppliers)
Technology and the ways it is used keeps changing by the day. It is essential to use current technologies to gain efficiencies in operations. A longer term contract does not automatically use the current breed of technologies. It is therefore important to re-negotiate contracts at regular intervals or identify newer suppliers.
Typical areas where value is realised;
-Improved reputation, relationships, confidence and value delivered across the business
-Improved project success rates, efficiencies and delivery times
-Select and manage best value suppliers in line with risk appetite
-Delivering cost savings
Pains typically relieved include;
-Poor reputation of procurement in the business
-Poor business alignment and engagement
Step 1 : It is important to understand the key elements of the current contract, the costs and the KPIs delivered. In addition to this the business needs and the pain areas are to be documented.
Step 2 : Identification of newer trends, technologies and any innovations and added bench marking
Step 3 : Re-negotiation of the current contract with the existing supplier to re-purpose based on Step 1 and Step 2 above or identification of alternate suppliers.
Step 4 : Better Outcomes from negotiations
Our Requirements of You
* Ensuring an executive sponsor from your organisation is allocated to the engagement, communicates the rationale behind it and signs off any ‘Terms of Reference’.
* Assisting in all possible ways to ensure that a contract, (and confidentiality agreement where necessary) is in place, in advance of any work commencing.
* Ensuring all support is in place and access is granted for all and any required data, processes, policies, meeting rooms and nominated resources to enable successful delivery of the engagement.
* Ensuring sponsor availability within the agreed timeline, to resolve any significant issues that may impact the timely completion of the engagement, if not resolved in a timely manner.
Our Commitments to You
* Provide support throughout service delivery using our World Class Professionals and Subject Matter Experts.
* Provide high quality deliverable in a timely manner and in line with agreements upon engagement with the client. (Any changes to this will be mutually agreed in writing, in advance, between all involved parties).
* Provide deep insights and genuine value-add in all possible areas throughout the engagement.
* Provide progress updates and feedback at regular intervals, agreed in advance or at the engagement ‘kick off session’.
* Respect all personal and professional development of client team members throughout the engagement.
- Analysis of current contract, Terms and KPIs delivered
- Business Pain Areas that are sought to be addressed
- New contract with the revised Terms
Available Service Engagement Models
*This service may be engaged via multiple engagement model options to provide maximum flexibility.
Project Based Engagement
Project based engagements operate on the basis of agreeing work and any outcomes or milestones for delivery in advance of commencement of any engagement in a ‘Statement of Work’. Prices are fixed for the agreed deliverables and should changes be required, these may incur changes to delivery costs. Payment for Project Based Engagements are agreed on a case-by-case basis, giving consideration to risk, contract value, client payment history, relationship longevity and duration.
A HiveMind Subscription Service enables clients to flexibly engage with HiveMind Expert(s) in line with the subscription purchased. Subscriptions typically run for 12, 24 or 36 months or can also be arranged on a rolling 6 monthly basis. Subscriptions for 6 or 12 months are billed at the commencement of service, with billing for 24 or 36 month contracts taking place on the annual anniversary of subscription commencement.
Focus In On: Responsible for Developing or Implementing a Sourcing Strategy
New Areas of Value:
Improved reputation, relationships, confidence and value delivered across the businessHidden
Improved project success rates and delivery timesHidden
Selecting and managing best value suppliers in line with risk appetiteHidden
Delivering cost savingsHidden
Poor reputation of sourcing in the businessHidden
Poor business alignment & engagementHidden