Destination Services Category Procurement Intelligence Report

A complete buyer's guide that provides comprehensive insights on Destination Services category spend, spend growth and regional segmentation; in-depth price trends; negotiation levers and analysis of Destination Services suppliers.

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Ecosystem of the global Destination Services category is intertwined with the larger parent market of HR Services. Our category definition describes that overall HR Services market includes all spend related to HR services delivery relating to staff of the organization spanning the entire employee lifecycle - from the hiring process to the retirement process.

Key questions on L4 procurement answered by this report

Strategic Sourcing Guide to Destination Services Procurement

Overview

Business practices within Destination Services market are heavily influenced by changing trends across the category as well as within the broader HR Services market. 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.

With the influx of millennials in the workforce and increasing diversity at the workplace, companies are struggling to design pay and benefits processes that are uniformly relevant for the lifestyles of such diverse groups.

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.

As a result, category managers need to closely monitor the Destination Services procurement trends and identify changes required in their procurement environment for the category.

Destination Services Procurement Best Practices

The report discusses in detail the best practices that have served well the category managers responsible for Destination Services procurement.

For example, Employees prefer flexibility and have customized requirements when it comes to choosing or accessing the benefits/services available to them. Service providers must also develop flexible plans and administration processes that can cater to unique demands of an increasingly diversified workforce.

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.

Buyers should engage with suppliers that automate the process of handling any claims or requests through cloud-based software. Once initiated by an employee of buyer organization, suppliers' staff or the system itself can provide guidance for next steps. All necessary stakeholders can check the real-time status through web-based platform and take actions accordingly.


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Risks in Destination Services procurement

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


  • Procurement without consulting the actual users of Destination Services may result in a mismatch in expectations of the buyer's internal stakeholders versus the actual contract executed
  • 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
  • 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

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Who should read this report

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

     

    You may have just initiated your research to design a winning Destination 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.

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

Destination Services Category Insights: What is inside

The Destination 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 Destination 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 Destination 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 Destination 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 Destination 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.

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?”

Category Research Framework


SpendEdge presents a detailed picture of Destination 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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