Don't Wait to Benchmark

Whether you’re just starting to source a new product and service, or preparing for contract negotiations, market intelligence is a critical aspect of success. However, having this multifaceted information shouldn't be contingent on impending business decisions. Instead, market intelligence should be an ongoing guiding resource for a company’s strategic direction. A lack of proper information can lead to excess spend and missed savings opportunities.

What can companies do to gather market intelligence? - Benchmark.

Benchmarking is a strategic tool that measures business performance, supply chain efficiency, and supplier relationship adeptness against established best practices in the industry. Through benchmarking, a company can evaluate its pricing, workflows, contractual relationships, spend profiles, and other parameters against the marketplace to gain insights on current operations and recommendations for continuous improvement. A benchmark report will provide actionable intelligence for guiding a company’s strategy focused on operational, financial, customer services, contract, and other improvements.

However, with limited resources and internal data, many companies lack access to comparison information of industry pricing and terms in preparation for contract negotiations, let alone be equipped to conduct benchmark studies on an ongoing basis.

Utilizing an extensive database of proprietary market intelligence, Source One can provide organizations with benchmarking services for pricing, contract terms, and service level agreements across a variety of industries and spend categories. Based on an organization’s specific and unique requirements, Source One produces benchmark reports with actionable recommendations and long-term sourcing strategies.

In just days, Source One will be an exhibitor at ISM 2015 Annual Conference in Phoenix, Arizona. Source One experts will be hosting discussions at their booth: #542. Attendees are encouraged to stop by and learn more about Benchmarking Services in addition to Source One’s strategic sourcing offerings.

For more information on Benchmarking visit: Strategic Sourcing and Benchmarking Services.