Source One Round Up: January 6, 2016
Here's a look at where Source One experts have been featured this week!
Choosing the Right Customer Loyalty Platform Provider
Did you know that acquiring a new customer is on average 5-10 times more expensive than retaining an existing customer? For most companies, the easiest source of revenue are your loyal customers, so it should come as no surprise that many organizations are turning to Customer Loyalty Programs in an effort to keep their loyal customers engaged. These programs provide a great opportunity for businesses to shape consumer behavior by offering incentives based on their shopping habits. There are an array of platform providers that offer different capabilities and services. The trick, however, is first understanding what your company's needs and goals are for the loyalty program you're looking to launch. This week, Source One's Senior Project Analyst and Marketing pundit, Liz Skipor breaks down the key considerations to assess when sourcing customer loyalty program platform providers.
Data Breach Response Planning Part I
In today's data driven landscape, the news is constantly filled with stories of major data breaches. From retailers to financial institutions, it seems as though there is no industry immune. In the ideal world, data breach prevention would be all an organization needs to combat hackers. However, hackers are always finding new ways to get a hold of critical data, which is why it is critical for organizations to have a response plan ready to implement, should the worst case scenario occur. With an extensive background in helping top companies drive greater value from their IT and Telecommunications investments,
Source One's Project Manager, Torey Guingrich sheds light on how procurement plays a critical role in sourcing all of the major partners a company needs when handling a data breach.
Making the Case for a More Diverse Supply Chain Part II - Supplier Evaluation
Supplier Diversity Programs boast a number of benefits for organizations, and not just those geared towards minority and women owned businesses. Supplier Diversity also means having a supply based varying in geographical locations, social, environmental, and political status, and alternative capabilities. This week, Source One's Project Analyst Jennifer Engel elaborates further on the components of establishing a diverse supply base. In her follow up article, Jennifer walks readers through the supplier rationalization process. She explains what considerations to include when developing a duel-faceted RFP that includes evaluating suppliers based on their capabilities, but also their potential to build resiliency, stability, and adaptability in your supply chain.