Resource Management Category Procurement Intelligence Report

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

Resource Management is an essential part of the HR Services category which 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 Resource Management Procurement

Overview

The market for HR Services and its sub-segments such as Resource Management are at an interesting intersection. Suppliers are increasingly offering a 'bundle' of services which is marketed as a cost saving option. The bundled offering often includes services that are not required by the buyer or are charged at a much higher rate than an A la carte option with another supplier.

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.

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.

Trends like these and many others discussed in this report are necessitating a relook at the way Resource Management is procured and the procurement cost saving opportunities that exist.

Resource Management Procurement Best Practices

Sometimes, procurement functions are unable to timely alter their practices while responding to market conditions. Industry experts acknowledge that periodically reviewing procurement best practices and adopting learnings from across procurement categories can help procurement teams respond to market needs in a more agile way. This report combines our experience of other categories with Resource Management procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, Buyers can achieve cost savings by bundling procurement of various personnel-related services (e.g. benefits administration, payroll, time and attendance, and HR management functions). The integration of different HR functions leads to the automation of employee data across various verticals. The integration also reduces the burden of manually entering and updating necessary information and offers consistency and accurate tracking across multiple systems.

Employers are focusing on providing employee-friendly interfaces (such as mobile-enabled services and web portals) to access and manage benefits and options available to employees. Suppliers who have the technical capabilities to seamlessly integrate with the employer's internal systems without comprising the data protection should be preferred.

Buyers must constantly communicate with service providers to provide them with better knowledge about buyer's goals and visions, which enables service providers to formulate customized plans and processes for the organization. Strategic partnerships with service providers enable buyers to have visibility into the latest technological innovations and cost-saving levers adopted in the market.


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Risks in Resource Management procurement

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


  • Business interruptions/damage caused by human error, natural disasters, computer viruses, malicious attacks, computer denial of service attacks, fire, and other disasters which are beyond the control of suppliers can lead to financial or data losses within buyers' operations
  • Pricing terms in the contract could prove to be inadequate to safeguard the buyer from impact of a sudden increase in supplier's cost, often arising from a lack of clarity on scope of products or services to be delivered
  • Suppliers may face a situation where they are unable to honor a contract in its entirety due to shortage of resources, finances or capabilities. While contractual terms safeguard buyers from the non-performance, their operations could still face massive disruptions due to suppliers' non-performance

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Who should read this report

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

     

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

Resource Management Category Insights: What is inside

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

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