Everyone agrees that time is money. That is why more companies are leveraging the benefits of source-to-pay sustainment resources. Nitor’s Sustainment practice provides remote, scalable resources enabling clients to achieve their short and long-term objectives including:
Reducing overall costs
Indirect Spend, which includes areas such as IT, MRO and Professional Services, can account for up to 50% of a company’s total revenue. Without category management expertise, this percentage will continue to rise. How do Sustainment services help? By tapping into a pool of resources with the category management expertise needed to decrease costs. This expertise isn’t developed overnight; it takes knowledge and experience gained by working with multiple clients in various business verticals.
Reducing training burden
Developing in-house expertise can be challenging and time consuming. Some sourcing organizations have a flurry of projects and hire just to keep up. Why hire and train when you can bring in the experts when needed? Nitor’s experts can help clients set up and run successful RFPs and online auction events – eliminating your training burden.
Increasing flexibility
Your key employees shouldn’t waste their time and energy on administrative and functional tasks. Nitor executes the functional and repeatable Source-to-Pay processes and simplifies Source-to-Pay events by managing the tools, vendors, and processes. This allows you and your team to concentrate on the important disciplines such as strategy and technology.
Achieving quick improvements in efficiencies and effectiveness
Nitor’s model provides clearly defined service-level agreements (SLA’s) with a target-based structure. This allows Nitor to come in and hit the ground running…no time wasted! Nitor has the experience and knowledge of best practices to make a difference on day one.
Nitor’s Sustainment practice provides companies with a scalable supplement to their Source-to-Pay team in five key areas:
Sourcing Execution
Organizations strive to enable key resources to focus on the strategic aspects of category management. Nitor source-to-pay Sustainment services allow for strategic focus by providing the following three remote and scalable RFx Sourcing event solutions:
RFX EVENT MANAGEMENT
Designed to provide tactical Sustainment services to build, manage, analyze and enable the awarding of an RFx Sourcing event.
The RFx Event Management solution is designed for clients with internal resources to create well-defined specifications and objectives. They also determine the participating suppliers and produce clean Key Input files.
Nitor then takes over to build and launch the RFx Sourcing event with the determined template and strategy. Nitor manages the suppliers including; acceptance of terms, training, Q&A, reminders, meetings and closing the event. Once the event is closed, Nitor provides an analysis, scoring, and reporting to support awarding of the event.
RFX EVENT MANAGEMENT AND ADVISORY
This solution is designed for clients lacking the internal resources to plan, build specifications and define Key Input files. Nitor will provide advisory services to stakeholders to complete the project charter and confirm the sourcing model as well as provide market input and strategy. Nitor will then build, manage, analyze and provide reporting to enable awarding of the RFx event as defined in the advisory sessions.
RFX EVENT MANAGEMENT AND CONTRACT NEGOTIATION
Taking the RFx Event Management solution one step further, Nitor provides contract negotiation and management services ensuring event terms and pricing are maximized and enforced.
The RFx Management and Contract Negotiation services solution streamlines the RFx Sourcing event from build, management, analysis and award through to contract negotiations.
Supplier Enablement
Best-in-class organizations understand that enabling key suppliers with high volume transactions and spend will drive user adoption that leads to real compliance and time savings. To ensure the successful adoption of your eSource initiative, Nitor Sustainment effectively manages suppliers through a structured, end-to-end approach. Our team follows a rigorous process for testing and loading suppliers to reach your goals of spend, PO’s and invoices, as follows:
- Coordinate and train suppliers
- Develop and manage each suppliers enablement project plan
- Perform functional enablement
- Perform technical integration and testing
Contract Migration
To increase the efficiency of contract management, we automate migration and standardize contracts into a centralized database. Nitor Sustainment contract services improve visibility and enable electronic compliance and renewal management by:
- Defining and assessing metadata and key reporting requirements (e.g., contract parties, contract dates, price and discounts, etc.)
- Building import templates
- Loading and testing contract data in development environment prior to going live in production
- Assistance with onboarding and training contract database users
- Weekly dashboard reporting
Spend Diagnostics
Detailed spend analysis is the foundation of a strategic sourcing initiative. We collect, cleanse and categorize spend data into meaningful commodity codes to identify opportunities. We also develop standard reporting structures with frequent data refreshes to enable category spend insights.
Technology Support
Source-to-Pay technology continues to evolve at a rapid pace and can present many challenges. We provide technology support through implementation, ongoing support and integration to your core systems including:
- Administrative support to configure system templates, manage users and data
- Regular data interface checks and uploads
- User customizations
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