One of the largest providers of financial services technology and global solutions with over 52,000 employees and operations globally.
Client decided to take some of their largest expiring telecom contracts out to RFP. Given the size of the scope, Client reached out to assist with their global sourcing initiative. Below are some of the challenges the Client was facing:
- Lack of Inventory: Client did not have an accurate inventory database to properly source services and benchmark existing rates.
- No Expertise: Lack of internal expertise to professionally source telecom agreements.
- Stakeholder Management: Multiple stakeholders (IT, Finance, Sourcing, etc.) all had different objectives around the direction of the RFP.
- Tight Deadline: Limited time to release a large strategic RFP process.
- Lack of Contract Visibility: Client did not understand existing commitment and liability within their agreements or records of fully executed contracts.
Goals & Objectives
- Build a comprehensive database to benchmark current services properly.
- Provide Client with nearly 80 years of combined telecom sourcing and contract expertise.
- Manage all sourcing objectives and score Provider responses based on Client’s criteria.
- Use our patented telecom RFP management tool, Telibid™, to fully manage the sourcing process in a timely manner.
- Identify key contract elements and assess the strength of leverage for strategy mapping.
- Database complete for hundreds of locations before RFP release.
- Obtained “World Class’ Terms and pricing (top 1%).
- Provided a comprehensive scoring system to down-select and award Providers.
- RFP released through Telibid™ in enough time to maximize leverage.
- Resolved existing telecom contractual commitments
Saved Client $22 million in total telecom contract term savings.