The value creation potential of procurement is underestimated at many companies because it continues to be organized as a central function. Whether the choice is to outsource the procurement function in its entirety or incrementally, organizations have reported greater spend visibility, reduced procurement costs, and improved price savings as a result of procurement outsourcing. ITAG transforms your source-to-pay value chain through an approach that emphasizes flexibility, realized savings, and compliance. We begin by helping you appraise your internal operations, comparing performance to industry benchmarks, and then create a business case that provides alternative approaches to achieving better outcomes. Utilizing our category expertise, we complete a full spend analysis to understand the total in-scope/addressable spend and prioritize the opportunities. We will build a compliance program and category-specific strategies. We will enable the source-to-pay process with a blend of technology options, either leveraging current investments or offering up new components on a custom or on-demand basis. We assist you with buying products and services, help unify systems, automate processes and transactions, and give you continuous, real-time access to detailed global spend information via online dashboards. Through ITAG procurement services, our customer would benefit provide:
- Operating & infrastructure Cost Reduction
- Enhanced Company Focus on Core Business
- Gain Access to World Class Capabilities, Experience, and Expertise
- Shift Volatile Variable Costs to Predictable Costs
- Transfer Internal Resources to Higher Value Activities
- Shift/Share Operating Risks
At ITAG, we provide the procurement service needs through complete set of documents to support your outsourcing request. This would include drawings, specifications, materials, etc. ITAG procurement service would then locate several of the most competitive suppliers in the related industry based on the required product. ITAG will then perform a vendor survey and create a bidding table which contains the information including the capability, capacity, and initial price quoted. A bidding score sheet will be generated for these suppliers. It is usually weighted as follows: price – 50%, quality – 30%, delivery – 10%, and service – 10%.This is the initial measurement based on the service’s professional opinion. You would then make the final selection based on this information.
The ITAG procurement service will perform the vendor readiness review during the pilot run, and measure the vendor capabilities if they can go to commercial phase. You should expect that a routine report would be sent to you for review. All product defects, failure reason, and corrective action will be documented and sent to you for verification.
- Sourcing is focusing on realized, not just identified, savings
- Designs a strong compliance program to achieve savings targets
- Supplies the necessary technology HW and SW needs to drive productivity and enable best-in-class processes
- Furnishes meaningful measures of success, such as SLAs and KPIs, will be actively monitored
- Provides a strong, experienced account management and governance team that