Benefits of combining MSP with VMS for SOW management

  

BENEFITS

Global Supply Chain (GSC)

BENEFITS

Sponsoring Managers

VISIBILITY

Provides instant insight into the number of live SoWs, received proposals, bid responses, length and duration of individual SoWs and the ‘running’ spend at any one time.

This information enables consistent control of spend and facilitates saving strategy initiatives and cost reduction exercises.

VISIBILITY

Provides instant insight into activity throughout the entire SoW lifecycle, at each stage of the process, through one single portal:

SoW request 

Received proposals/bid responses

Technical discussions and outcomes

SoW fulfilment

Lifecycle progress updates

 

SAVINGS

Provides the ability to evaluate performance against saving objectives and enforces key saving strategies, i.e. ‘Competitive Bidding’ and ‘Milestone’ adherence (payment/billing and SLA)

 

ELECTRONIC APPROVAL

Payment/ billing and SLA milestones, together with associated data records are electronic and can be approved via email through the online portal or a handheld device, by designated approvers.

Electronic invoices and supporting file uploads remove the need for paper invoices and allows SoW expenses to be consolidated on a single invoice file, received on a chosen cycle.

This saves time and is fully auditable.

 

ANALYTICS

Produces Management Information and analytics on:

Quality – e.g. milestone monitoring, bid quality

Speed – e.g. speed of submittals, responses, approvals

Cost – e.g. bid price comparisons, savings, spend run rates

Compliance – e.g. adherence to HR Policy, SoW signature, milestone completion

 

QUICKER SoW FULFILMENT

Automated processes and visibility of supplier activity, through from SoW request to proposal and SoW fulfilment stage, via a single portal.

The ability to compare and score proposals drives competition, thus increasing quality and reducing both costs and time taken to agree SOW.

SUPPLIER MANAGEMENT

Provides data to facilitate supplier tiering and optimisation of the supplier base.

Also supports contract management, i.e. effective management relating to contract expiry, renewal, amendment, termination decisions.

 

STANDARDISATION & SIMPLIFICATION OF PROCESSES

System configuration routes the workflow through approvals, ensuring compliance.

Workflow is configured with mandatory fields to be populated with required data, in line with company policy.

SPEND FORECASTING & BUDGET COMPLIANCE

GSC engaged in the approval cycle for new SoW requests to enable visibility and future spend control.

EASE OF USE

MSP is a single point of contact for all managers’ Non-Staff Supplementation/SoW requests.

SoW request forms are user intuitive and simple.

SoW requests submitted to selected approvers and automatically posted to selected and approved suppliers.

Information is all in one system - removes the need for multiple spreadsheets saving time.

Managing SOW amendments is automated, with time-bound reminders sent to the relevant sponsoring manager via email.

 

REPORTING

Reports can be scheduled for stakeholders e.g. savings, supplier performance, snap shot analytics and population of monthly and quarterly dashboards.

Adhoc reports can be created, run and saved for future use.

REPORTING

Reports can be scheduled for Sponsoring Manager stakeholders, providing financial information on spend and category, by business area, as required.

Adhoc reports can be created, run and saved for future use.

 

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