Executive Assessment | Market, Trends, Growth | Suppliers Analysis

Strategic Sourcing Guide to Executive Assessment Procurement

Overview

Several macro changes in the dynamics of overall HR Services as well as Executive Assessment procurement trends are poised to change the business practices and procurement thumb rules. Changing workforce demographics are creating challenges in identifying the right talent mix and processes that can keep the talent pool motivated and satisfied with their work.

Even though global population is increasing, the availability of adequately trained talent pool is reducing in many geographies. Lack of skilled in-house manpower continues to be the largest factor for hiring of Executive Assessment. Companies are designing processes where the internal talent can work on the most value-adding activities and all non-core activities can be handed over to a third-party.

People analytics has emerged as a rather new branch of HR function with an aim to gain deeper insights into an employee's behavior, motivators, risk of attrition and general wellbeing. There is a high demand for suppliers who can integrated technology in traditional processes to generate insights on the buyers' talent pool.

Category managers need to take note of the potential of these developments and reassess the changes required in their procurement practices.

Executive Assessment Procurement Best Practices

It has become imperative for category managers to remain as agile as possible in terms of their procurement practices. However, it is not always easy to quickly spot and implement alternative practices in a category like Executive Assessment. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, Buyers should promote competitive bidding scenarios and supplier competition to gain cost and value benefits. Bids should be invited from a substantial pool of service providers that can meet their requirements.

Large organizations are opting to streamline and centralize their personnel-related administration functions at the global level to realize efficiencies and consistency in the employee benefits and related policies.

Category managers should track and measure suppliers' performance against a predefined set of KPIs that are agreed by both parties during contract negotiation. Results of the metrics can be linked to the employee satisfaction achieved in managing employee services and cost saved by successfully integrating various HR services with such administration.

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Risks in Executive Assessment procurement

Executive Assessment procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for Executive Assessment procurement. Some examples include:

Service providers sometimes rely on third-party vendors for software and technologies and this can lead to increased dependence on these vendors. The services they provide may be disrupted, if they are unable to timely renew contracts with such vendors
Many service providers offer services via SaaS, mobile technology, and desktop software. If they do not remain up-to-date with the latest technologies and keep up with changing industry standards, they may not only be unable to resolve clients' problems but also lose the interest of potential clients
When requirements of the buyers are not absolutely clear or usage patterns are not stable or predictable, suppliers often build in \"cost buffers\" for unforeseen risks due to a lack of complete understanding on buyer's requirements. This increases the risk of overspending on Executive Assessment

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Who should read this report

The report is intended to serve as a one-stop reference guide for Executive Assessment procurement strategy and offers a perfect blend of category basics with deep-dive category data and insights. Therefore, it is ideal for category beginners looking for “Executive Assessment: Procurement Report 101” as well as for category experts actively tracking the global Executive Assessment procurement market.

You may have just initiated your research to design a winning Executive Assessment procurement strategy, or you may be a category expert looking for strategic insights and updated data.Either ways, the report has your requirements covered.

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Key questions on Executive Assessment procurement answered by this report

Procurement decisions can prove to be costly in the absence of careful deliberation and evaluation of every available option. In fact, more than 90% of the decision makers we work with acknowledge that timely availability of up-to-date category intelligence can help them make better purchasing decisions. More than 80% of them believe that in-house category intelligence needs to be updated periodically to achieve full benefits. If you have read so far, we are quite sure you agree!!

The Executive Assessment procurement report helps take more informed decisions by placing all the critical information and advice at the fingertips of a decision maker. It also specifically answers some of the key questions that we have been routinely asked during our industry outreach initiatives:

What is the spend potential in the Executive Assessment market?
What is the correct price to pay for Executive Assessment? What are the key trends and factors that influence current and future pricing?
Which selection criteria are the most important for Executive Assessment Suppliers Market?
Who are the top Executive Assessment suppliers? What are their cost structures?
Which negotiation levers can reduce Executive Assessment procurement cost ?
What are supplier margins in Executive Assessment market?
What are the best practices for Executive Assessment procurement and what are the potential risks?

SpendEdge Insights has helped procurement professionals and sourcing teams manage multiple spend areas and achieve more than $2 billion in savings. Activate your free account today!

Executive Assessment Category Insights: What is inside

The Executive Assessment market report offers a complete picture of the supply market and analyzes the category from the perspective of both buyers and suppliers. Analysis of the category trends, procurement best practices, negotiation levers and overall category management strategy advisory are interspersed with in-depth data and commentary on spend outlook, pricing ecosystem and supplier landscape drilled down to a region-level coverage.

Data

A key highlight of this report is the in-depth outlook created on Executive Assessment procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Executive Assessment. A dedicated section to supplier profiles and evaluation helps decision makers cast a wider procurement net and identify gaps in existing relationships.

Insights

Along with specific category and supplier intelligence, the publication also includes curated insights on Executive Assessment market trends, price influencers and inherent risks. These insights help the decision makers prepare for market shaping trends in advance and create alternative strategies for changes in the market conditions.

Advisory

Additionally, the report also advises on the best practices and strategies to manage the Executive Assessment category efficiently. Negotiation levers and opportunities are explained in detail along with quantification of their potential. Benchmark KPIs for supplier and buyer performance management are also aggregated to better organize the category objectives. Other themes of advisory include ideal procurement organization structure, enablers to achieve KPIs or category objectives and ideal SLAs to have with suppliers.

Category Ecosystem

Buyer and supplier ecosystem
Competitiveness index
Buyer and supplier power
Threat of new entrants and substitutes

Global and Regional Sourcing Insights

Category spend
Spend growth
Dynamics
Opportunities

Pricing and Cost Analysis

Pricing outlook and data
Drivers of pricing
Cost structure and inputs cost
Total cost of ownership
Pricing models and margins

Cost Saving Opportunities & Negotiation Strategies

Buyer and supplier side levers
Quantified cost saving opportunities
Negotiation strategies and quantified outcome

Procurement Best Practices, Strategy and Enablers

Procurement excellence
Sustainability and innovation
KPIs and category enablers
Risk management and outsourcing

Vendor Analysis

RFx essentials and selection criteria
SLAs
Supplier evaluation metrics
Detailed supplier profiles

Our research is complex, but our reports are easy to digest. Quantitative analysis and exhaustive commentary is placed in an easy to read format that gives you an in-depth knowledge on the category without spending hours to figure out “what does it mean for my company?”

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Category Research Framework

SpendEdge presents a detailed picture of Executive Assessment procurement solutions by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.