Executive Car Service Category Procurement Intelligence Report

A purchasing guide for Executive Car Service – rich advisory on spend outlook in Executive Car Service, pricing analysis for Executive Car Service procurement cost benchmarking, negotiation strategies and key vendors of Executive Car Service.

Ecosystem of the global Executive Car Service category is intertwined with the larger parent market of Business Travel. Our category definition describes that overall Business Travel market includes all spend directly related to the movement of staff, vendors or clients on business travel across all modes of transport.

Key questions on L4 procurement answered by this report

Strategic Sourcing Guide to Executive Car Service Procurement

Overview

Several macro changes in the dynamics of overall Business Travel as well as Executive Car Service procurement trends are poised to change the business practices and procurement thumb rules. As costs rise, companies will be pushed towards finding better cost efficiencies in their travel and entertainment programs. Buyers are leveraging new management tools to analyze the costs using a Total cost of trip/event approach as against cost of an individual trip/event cost item. It is now also expected of suppliers to assess the cost effectiveness of any service they provide from a more holistic point of view.

The availability of advanced technologies has prompted travel and event service suppliers to heavily invest in them to improve efficiencies and customer experience. However, most have learnt that technology alone is not a replacement for the human touch when it comes to customer service. As a result, suppliers are spending on both counts - technology and customer service staff. Till the time a formula for perfect balance between the two is discovered, buyers should expect to bear some of this increased OPEX of suppliers.

With regional and national boundaries blurring in today's corporate world, companies increasingly find themselves with a latent need to bring together geographically distant teams, customers and stakeholders. Therefore, the demand outlook for Executive Car Service is expected to remain strong.

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

Executive Car Service 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 Car Service. To help quick decision making, this report advises on several procurement best practices that have worked well for category managers.

For example, Large organizations seek engagement with global category suppliers. However, they must try to achieve the right blend of regional and global suppliers in order to ensure availability of management services at locations where global players do not have necessary capabilities.

Suppliers often charge substantial fees for cancelation and rebooking. Buyers should negotiate for low prices on these aspects to realize direct cost-savings.

It is important for category managers to track and measure the performance of suppliers against a set of defined KPIs that are agreed upon during the contract negotiation phase. The performance of suppliers can also be linked to a portion of their fee that can be paid upon rendering of services in a satisfactory manner. For instance, category buyers should assess supplier performance for adherence to allocated travel budgets.


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Risks in Executive Car Service procurement

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


  • Service providers rely on fuel for the operation of various equipment during their operations. Fuel supply shortage or price fluctuations due to factors such as international political and economic events can increase the operating expense of category service providers. Service providers also susceptible to increase in indirect fuel surcharges from their vendors
  • Rise in fuel charges will lead to increase in logistics costs for travel management service providers. This could be passed on to buyers in the form of high service charges
  • 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

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Who should read this report

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

     

    You may have just initiated your research to design a winning Executive Car Service 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 Car Service 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 Car Service 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 Car Service market?
    • What is the correct price to pay for Executive Car Service? What are the key trends and factors that influence current and future pricing?
    • Which selection criteria are the most important for Executive Car Service Suppliers Market?
    • Who are the top Executive Car Service suppliers? What are their cost structures?
    • Which negotiation levers can reduce Executive Car Service procurement cost ?
    • What are supplier margins in Executive Car Service market?
    • What are the best practices for Executive Car Service 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 Car Service Category Insights: What is inside

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

    The Executive Car Service 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 Car Service 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 Car Service. 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 Car Service 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 Car Service 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 Executive Car Service 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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