Benchmarking Services

Benchmarking Services

Strategic Sourcing And Benchmarking Services

Organizations can gain competitive advantages through supplier benchmarking 

Organizations operating in a lean environment are finding it difficult to gather the meaningful market intelligence necessary to drive solid business decisions.

Those preparing for contract negotiations could greatly benefit from supplier benchmarking services. Maybe a company wants to know how their pricing and terms compare to others in their industry but has no access to that information. Or maybe they are sourcing a new software or service offering but do not have the insight necessary to determine if a quoted labor rate and resource team is justified. In both cases, the lack of information means bloated spend and missed savings opportunities.

Source One can benchmark suppliers to solve those sourcing conundrums. Utilizing our extensive database of proprietary market intelligence, we can provide organizations with benchmarking services for pricing, contract terms, and service levels across a variety of industries and categories of spend.

Source One’s strategic sourcing team conducts benchmark research and reports based on an organization’s specific and unique requirements. Our sourcing analysts prepare benchmarking reports far more detailed than the standard “analyst reports” and tailored to the client, providing our clients with actionable recommendations and long-term sourcing and procurement strategies for each category.

Our strategic sourcing and supplier benchmarking experts provide our clients with customized actionable benchmark reports supported by useful market intelligence from our extensive market intelligence databases and other sources. Our benchmarking data is derived from white labeled and licensed eSourcing tools, in-house negotiations, external research repositories, partners, subscription services, market inquiries and even directly from suppliers.

Our strategic sourcing teams are able to provide benchmarking services and benchmark reports in dozens of spend categories. Below are some of the most popular benchmarking categories:

Our decades of service to clients has allowed us to build some of the most robust cross-industry repositories of benchmarking data. This benchmarking data includes pricing and industry expertise that can be leveraged to provide organizations with the right information specific to their unique strategic sourcing needs. Our eSourcing technologies are used every day by companies engaging in strategic sourcing events, and these tools deliver us real-time data for monitoring changing market conditions. Simply put, no one else has the access to the same level of information, expertise, and raw data that our custom benchmarking services deliver.

Source One’s benchmarking services provide our clients an unparalleled awareness of their standing in the marketplace, as well as provides the insight needed for them to gain and maintain competitive advantages in their industries. Our custom benchmarking services help your organization become or maintain its status as a market leader.

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Benchmarking Resources

Supplier Benchmarking White Paper

Source One offers supplier benchmarking insight in their latest white paper, Attain Best in Class Status and A Competitive Advantage through Cross-Industry Benchmarking.Source One’s supplier benchmarking white paper offers insight into how real-time market intelligence can dramatically impact your operations and your bottom line. Supplier benchmarking can identify gaps, areas for renegotiations, and even reduce prices. This paper highlights the steps you can take to implement better benchmarking processes into your supply chain.

Download a copy of our Benchmarking White Paper

Benchmarking Case Study
A national health insurer with a multi-million dollar printing spend and a mandate to find savings turned to Source One for benchmarking information.

Source One’s strategic sourcing team conducted a full spend analysis on the print category to gain an overview of where the spend was allocated. We then leveraged our wealth of market data and intelligence to compare the client’s pricing to what was available in the market. These efforts highlighted a pricing imbalance and a potential cost savings opportunity with an incumbent supplier providing a large portion of the print services including ID cards, forms, and customer-facing mailers.

The benchmarking report ultimately provided information that caused the health insurer to take their print spend back to market. The subsequent strategic sourcing process ultimately drove a 31% savings in print costs.

Read more Benchmarking and Strategic Sourcing Case Studies

Benchmarking BPO
Having access to benchmarking information and a strategic sourcing consultant to provide guidance is a wonderful thing. But if you don’t have the time or resources to take action on those recommendations, you have a lost savings opportunity.

Learn how we can supplement your team’s resources with our Sourcing and Benchmarking BPO solutions.