What's the biggest choke point in your business when it comes to selecting new solutions or services? This doesn't have to be IT related.
Defining the problem we need to solve19%
Identifying what solutions may solve that problem46%
Narrowing the options down to a short list19%
Selecting the right provider9%
Awarding a contract.3%
Something else1%
Sort by:
Fit for purpose , functional , non functional alignment and then commercial deals the deal . It has to be more than one option in the table.
We used an extensive E-auction process. We may have a preferred vendor but we are required to go into a 3-way blind price auction. The upside is it has driven costs very low. However it is hard to have 3 acceptable solutions. And in some cases we are forced to use the low cost vendor — on paper that low cost vendor is to provide the same value but it rarely turns out that way. I recommend e-auctions but ensure you have apple to apple solutions
You're not the first business I've come across with the 3-way model. What drives this? Is it internal policy, or industry regulation?
It’s internal policy. We are a low revenue growth company. We grow earnings per share by aggressive cost cutting, process efficiency and “organizational efficiency “<br><br>We have targets each year to reduce vendor spend by minimally 4% and some years a lot more<br><br>Very much like GEs top grading and other practices
I said something else. For us its understanding enough about the product, how we will set it up, and how we will use it to go through an internal security review of it. That takes months and months even for small products.