HR Health And Benefits Consulting Market Procurement Intelligence Report

Several macro changes in the dynamics of overall Consultancy as well as HR Health And Benefits Consulting procurement trends are poised to change the business practices and procurement thumb rules. In a bid to broaden their service portfolio, HR Health And Benefits Consulting service providers are heavily investing in advanced technologies and tools such as RPA, AI, data analytics, and blockchain. This trend has a potential to increase their OPEX and in turn, procurement costs for buyers in the short term.

Most clients now prefer splitting a single project among different vendors as it enables them to allocate parts of a project to specialized professional firms and keep the supplier base wide enough. Some clients adopt this strategy to understand the capability and performance of individual supplier and then pick one or a smaller set of suppliers for future contract opportunities.

The market is rapidly showing signs of a great divide - at one extreme is a low-cost market with almost commoditized services and at the other end is the market for high cost specialized services. HR Health And Benefits Consulting vendors are adopting starkly different business models and cost structures in an effort to address both the markets.

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

HR Health And Benefits Consulting procurement best practices are moving towards a level of sophistication which is typically seen in traditional procurement categories. Category managers now have an attractive opportunity to adapt the best practices seen within this category as well as those being leveraged in other non-related categories. This report summarizes the best practices picked from across multiple categories that could work well for category managers involved with HR Health And Benefits Consulting procurement strategy.

For example, Buyers must request for breakup costs for each service to gain better visibility into service providers pricing.

Buyers should engage with service providers through a performance-based pricing model wherein consultants should be paid based on the quality of services delivered by them.

Buyers should invite bids from industry competitors to ensure that the offers they receive are competitive. Service providers may be willing to offer a multi-year engagement at a reduced fee, which can be beneficial for category buyers in the long-term.

HR Health And Benefits Consulting procurement managers also need to proactively identify and mitigate potential risks that can arise in the supply chain or contracts for HR Health And Benefits Consulting procurement. Some examples include: