07
Sep

Why You Should Invite More Vendors to Your RFPs

As your team prepares to release an RFP (request for proposal), inviting more vendors will benefit your procurement efforts as well as your company as a whole.  More potential vendors drives greater price competition and the ability to leverage and negotiate proposals, leading to more aggressive proposals and fiscally responsible solutions. While you’re in the process of negotiations, it’s important to be transparent with vendors and avoid bluffing, which is unethical and generally sours the relationship. It’s easy, as a result of  being lazy or wanting to move quickly, to skip the extra step of reaching out to more vendors…

31
Aug

Procurement is Overlooking a Valuable Asset

There are dozens of companies offering consulting or software that promises to help you “save big” on your procurement efforts. While a handful of these consulting firms and tech companies offer valuable services and technology, they can be costly, to say the least. And the rest of them are quite frankly a scam, or waste of time and money. If you’re at a small company or a large company that doesn’t invest in procurement, chances are you may not be able to afford these solutions and services. So what can a procurement professional do to get a leg up and…

24
Aug

Why Your Company Should Invest More in Procurement

Other companies are investing in their procurement teams. Just because your neighbor or competition is doing it, doesn’t mean you should too. However, in this instance, copying leads to advantageous outcomes for you and your company. If a large swath of companies, particularly the fastest growing ones, see the importance of investing in their procurement and sourcing teams, it’s worth asking why. You may not understand all of these companies’ reasons, but just acknowledging and recognizing the trend (and doing something about it!) puts you ahead of the curve. Procurement has the power to save your company major money and…

08
Aug
The Most Important Thing a Company Can Do to Own The Price Conversation

3 Things Procurement Professionals Can Do To Become A Better Negotiator

For many technology and procurement professionals vendor meetings can be confusing, drawn out and downright frustrating. Here are three tips that will immediately help your team become better negotiators: 1. Let them speak first. Often times, we have a tendency to get really excited and want to speak first when we're on the first call with vendors and companies offering solutions to our problems. This is because we are eager to tell the vendor what our problems are and how we're looking to solve them. While it's fine to share the problems you're looking to solve with the vendor, don't…

01
Aug
The Biggest Differences Between Government Procurement and Private Sector Procurement

The Biggest Differences Between Government Procurement and Private Sector Procurement

It is easy to assume that government and public sector organizations are similar to private sector companies in the way they procure their tools such as technology solutions. While government entities need many of the same software solutions and services as enterprises, the way that they procure these solutions and their decision making processes are vastly different because fundamentally, each of them are held accountable by different interest groups. The public sector is often driven by more stringent regulatory standards, tighter budgets, limited internal resources, and their definition of a “bottomline” is different than that of a company. Unlike the…

25
Jul

The Most Important Thing a Company Can Do to Own The Price Conversation

The topic of money is avoided at more places than the dinner table. In the software industry, most buyers and sellers put off talking about price until the very end of the procurement process after product features, functionality, service entitlements, and scalability have been discussed. This strategy can often be a dangerous play, if the buyer doesn't like the price quoted at the end of the conversation, they may leave the negotiation with a bad taste in their mouth and negative feelings and opinions about a company and product - which doesn’t benefit the buyer or seller. As a seller…

11
Jul
The New Buyer is Smarter Than Ever

The New Buyer is Smarter Than Ever

The 21st century buyer is smarter - and more informed -- than ever. However, not too long ago, buyers had limited information, resources and fewer companies were investing in sharing actual information to inform their customers. The internet and its increasing accessibility through smartphones and other digital devices has completely transformed the way that buyers learn, research, and plan prior to making purchases. Whether it’s checking Yelp before visiting a new restaurant, the reviews section prior to buying new shoes, or checking an online forum to read customer feedback before a large enterprise software purchase, buyers are increasingly aware of…

27
Jun
Software Procurement and The Bottomline: Why Quantitative Price Information is Making a Comeback

Software Procurement and The Bottomline: Why Quantitative Price Information is Making a Comeback

When it comes to software benchmarking, the current market does an excellent job of comparing qualitative attributes of software solutions such as features and benefits. There are also companies and resources that have been available for many years that help software professionals make decisions about their software choices, IT performance, and business practices. Companies that offer qualitative insights for software comparison include: Gartner helps customers understand different technology solutions and the technology ecosystem at large through in depth, lengthy research. Forrester provides independent analysis and price benchmarking of software vendor proposals and can advise and handhold procurement teams on how…