Why Work with StrategicSource
You’ve worked too hard to get anything but the best advice for your business. That is why StrategicSource has created unique approaches for businesses looking for high-quality spend management results.
- Great team of Sourcing Experts – experienced in over 160 categories
- Great team of Client Services – Program Managers who become your advocate
- Highly experienced Assessment, Audit, and Operations team to get the data right
- Led by an innovative, deeply experienced Leadership team
- Average 26% Cost savings year-over-year for our clients
- Supplier Independent – We will work with your suppliers to improve results
- We audit suppliers to prove and validate results – forecasts
- We improve processes and controls so that cost savings become sustainable
- We are constantly learning new categories….bringing new opportunities to you to improve operational efficiency
- Data-driven……….thousands of benchmarks in hundreds of categories help us recommend solutions that meet your stated objectives
Our Approach to Maximize Profitability
Our Approach to Optimize Your Spend and Improve Your Efficiency
1. Discover
- Obtain your 12 month spend history
- Interview Management to understand if Spend Management Practices are in place
- Pour over your spend data and code it into the appropriate spend buckets
- Analyze your Spend Management processes, controls and policies
2. Plan
- Conduct an on-site kick-off to create alignment and better understand your business, your staff and any obstacles we might encounter
- Summarize our findings and present to your management team
- Agree on next steps and a sourcing plan(categories, priority, timing)
- Confirm your business objectives to ensure alignment
- Begin gathering invoices to initiate the plan – sourcing process
3. Development
- Build the tools to manage the engagement
- Initiate a contract tracker to manage your contracts and agreements
- Customize Purchasing policies for your organization
- Finalize other engagement management tools to drive efficiency
4. Execution
- Gather your specific category requirements before the sourcing process begins – we do this by listening to you and your team
- Source categories in the plan – renegotiate with incumbent suppliers as directed
- Analyze the category results
- Build a category recommendation and present to you and your team
- Implement the solution(s) you select
- Audit the suppliers to ensure compliance
- Manage the process and bring only the exceptions to your attention
5. Reassessment
- Source the categories and report results and performance to guarantees
- Measure the new efficiencies in your supplier base
- Communicate at least monthly, but depending upon the client, can provide updates every two weeks or more
- Compare before and after relative to processes, controls to achieve risk mitigation and ensure sustainable savings
- Re-pull spend after a time to see how spend has been reduced
- Re-quote and re-source categories frequently to ensure you have a highly competitive solution.
Customer Success Factors
“Best Practices”
- Executive Leadership and Support
- Communicate Objectives and Expectations of the Enterprise
- Create “Buy-In” to Annual Plan and Assign Category Owners
- Consistent Bi-Weekly Participation of Category Owners
- Broad Communication of Progress and
Results to Category Owners, Management and Stakeholders - Conduct Quarterly Reviews to Monitor and Adjust Plan
- Celebrate and Communicate Results – Thank Employees!
Minimal Resource Commitment
Looking Ahead…
StrategicSource is committed to delivering the best spend management tools, programs, and expertise to help our clients meet their profitability and performance objectives.
Discover What is Possible Today 