Shopping Vouchers Category Procurement Intelligence Report

The market for HR Services and its sub-segments such as Shopping Vouchers are at an interesting intersection. 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.

New locations and vendors are emerging as cost effective suppliers of Shopping Vouchers, offering an opportunity to widen the supplier base and gain further negotiation leverage with incumbent suppliers.

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 Shopping Vouchers is procured and the procurement cost saving opportunities that exist.

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 Shopping Vouchers procurement insights and hand picks best practices that can work for category managers delving in this market.

For example, 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 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.

Besides shortlisting potential suppliers based on services offered and cost, they also need to be evaluated against several other critical parameters. Some examples of these parameters are compliance with laws and regulations, capability to protect personally identifiable information and technical standards adopted (e.g. user interface, user exchange standards, data exchange standards). RFPs soliciting the above information ensures competition among suppliers and facilitates efficient evaluation.

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