Are Your Sourcing Costs Market Competitive?
STAMFORD, Conn., Oct. 26, 2020 (GLOBE NEWSWIRE) -- With enterprises looking to cut costs and become more digitally agile amid the coronavirus pandemic, now is the time to leverage digital benchmarking services to ensure sourcing contracts are market competitive, say experts with Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
“The economic impact of the COVID-19 pandemic is driving many organizations to pursue digital enablement and cost containment at the same time, which requires market intelligence and timely data on IT services pricing,” said Chris Pattacini, managing director, ISG Research.
Pattacini and ISG colleagues Iain McLurcan and Andrew Sauter will explore the benefits of continuous pricing intelligence during the next ISG Smartalks™ webinar, “Budget and Buy Smart with On-demand Market Price Intelligence,” Thursday, October 29, at 11 a.m. U.S. Eastern Time. The ISG experts will discuss 2021 IT services pricing trends and forecasting, along with strategies for using real-time data for sourcing decisions and cost-saving opportunities.
“IT services benchmarking has morphed from an infrequent, labor-intensive execise into a nimble, on-demand and more cost-effective capability with new online tools that enables up-to-the minute data on price competitiveness,” said Pattacini. “Keeping on top of current market pricing is even more important with the explosion of smaller sourcing contracts of shorter duration.”
Pattacini noted that advances in automation and analytics allow enterprises to benchmark their transactions in real time, each time an invoice is received. This provides greater visibility into price competitiveness, so companies can immediately pivot in response to price changes and use benchmarking for other purposes, such as justifying prices to internal stakeholders, conducting trend analyses for budget planning and ‘what-if’ analyses, and tracking market prices without soliciting RFPs or RFIs.
“Benchmarking is no longer a discrete, once-every-year-and-a-half effort that requires the help of a provider,” Pattacini said. “Companies should think of benchmarking as an ongoing subscription they can access to run reports whenever they need market price data. By quickly responding to changes in market prices, enterprises can make more strategic IT services decisions.”
To register for the ISG Smartalks™ webinar, visit the event website.
ISG offers the industry’s only patented IT benchmarking and market price intelligence platform, ISG ProBenchmark®, powered by the largest database of market price points of its kind. The data are derived from more than 23,500 ISG engagements with over 2,700 clients, including more than 2,100 transactions worth more than $457 billion of contract value. For more information about ISG ProBenchmark, visit this webpage.
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
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Will Thoretz Information Services Group, Inc. +1 203 517 3119 Will.Thoretz@isg-one.com Jim Baptiste Matter Communications for ISG +1 978 518 4527 email@example.com
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