Data and Information Management Services Market Procurement Intelligence Report

A purchasing guide for Data and Information Management Services – rich advisory on spend outlook in Data and Information Management Services, pricing analysis for Data and Information Management Services procurement cost benchmarking, negotiation strategies and key vendors of Data and Information Management Services.

Scope of the report

This report on global Data and Information Management Services category is part of a larger series of reports on global Contingent Labour market. The scope of Contingent Labour spans multiple categories and is typically identified as a procurement category that includes all spend related to contingent labour that is temporarily filling a skills or manpower gap which would normally be carried out in-house, filling an established post but always working within the organisation under direction for a short term.

KEY PROCUREMENT INSIGHTS COVERED

Strategic Sourcing Guide to Data and Information Management Services Procurement

Overview

A changing ecosystem within the Contingent Labour market also affects the procurement process, cost dynamics and supplier attractiveness for the buyers of Data and Information Management Services. Many major Data and Information Management Services suppliers are seeking inorganic growth to diversify their services and gain access to new products and new technologies at a lower cost. The strategy serves consultancy companies well as they can pitch for a larger scope of work and truly become strategic partners of their clients.

Traditionally, clients were charged on per diem basis for Data and Information Management Services. However, rising pressure from clients to decrease pricing has resulted into an alternative pricing model of value-oriented billing where supplier's remuneration is linked to the performance or outcome of the project.

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.

Data and Information Management Services 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 Data and Information Management Services. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, 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.

Investing in benchmarking studies help category managers improve their knowledge on market pricing or billing rates of consultants by job role and function. This also allows them to save costs as well as negotiate better with service providers.

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


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Risks in Data and Information Management Services procurement

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


  • Contract-related risks where unfavorable credit terms may severly penalize buyers for delayed payments or entitle the supplier to demand pre-payments or shorten the payment terms are not very common in the category but they do exist in certain situations where buyers' liquidity or financial health is in question
  • Rising labor costs may lead to increased procurement cost for buyers, especially with developed markets such as North America and Western Europe
  • Procurement without consulting the actual users of Data and Information Management Services may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed

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Who should read 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!!

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

    The report is intended to serve as a one-stop reference guide for Data and Information Management Services 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 “Data and Information Management Services: Procurement Report 101” as well as for category experts actively tracking the global Data and Information Management Services procurement market.

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Key questions on Data and Information Management Services procurement answered by this report

    The Data and Information Management Services 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 Data and Information Management Services market?
    • What is the correct price to pay for Data and Information Management Services? What are the key trends and factors that influence current and future pricing?
    • Which selection criteria are the most important for Data and Information Management Services Suppliers Market?
    • Who are the top Data and Information Management Services suppliers? What are their cost structures?
    • What are supplier margins in Data and Information Management Services market?
    • Which negotiation levers can reduce Data and Information Management Services procurement cost ?
    • What are the best practices for Data and Information Management Services 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!

Data and Information Management Services Category Insights: What is inside

  • A comprehensive drill down on category sourcing execution: Data, insights, advisory

    The Data and Information Management Services 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 Data and Information Management Services procurement spend and pricing trends. The report further delves deep into the aspects of cost structure, total cost of ownership and supplier margins for Data and Information Management Services. 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 Data and Information Management Services 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 Data and Information Management Services 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.

  • Unrivalled breadth of category analysis: at your fingertips

    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
  • A lucid, easy to read format: Enabling fast decisions

    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?”

Category Research Framework

SpendEdge presents a detailed picture of Data and Information Management Services 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.

Information Sources

Primary research
Secondary research
Procurement heads
Industry journals and reports
Category managers
Periodicals and new articles
Sourcing consortium professionals
Category webinars
Industry experts and thought leaders
Internal categiry playbooks
Procurement managers
Industry/government websites on regulations, compliance
Category heads of suppliers
Internal databases
Client account heads/managers
Industry blogs/thought leader briefings
Client and industry consultants

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