The scope of procurement technology is often limited to just finding the best pricing and terms when making any IT purchase. The recent trends such as Cloud computing, IoT, and Big Data are significantly improving supply chain traceability and aiding procurement decisions or managing buyer-supplier relationship.
Industry-best practices and adequate planning is what defines a provider of procurement solutions. The injection of the most recent procurement trends has broadened the scope and reach of this arena. Leveraging technologies such as Big Data and Predictive Analytics, companies are able to predict and plan their procurement needs. The Cloud has allowed organizations to streamline their orders and bring transparency across supply chains. Cyber security is another factor today defining the procurement offerings, as the exposure to security threats continue to escalate. Improvements in spend management and e-Procurement systems are shaping the procurement arena, allowing swift purchasing activities and a better experience.
Following an adaptive sourcing approach helps ensure there is adequate room for integrating the current trends, relevant to the procurement arena. In this edition of CIOReview we present to you the 20 Most Promising Procurement Solution Providers 2016, featuring the best solution and service providers offering tools and services in the procurement landscape. The companies featured in this issue have exhibited extensive business process knowledge combined with innovative strategies. A distinguished panel comprising of CEOs, CIOs, and analysts including CIOReview editorial board have selected the top companies that are at the forefront of tackling challenges in the procurement landscape.
LinkSource named as Top 20 Most Promising Procurement Solution Providers
in 2016 by CIO Review
It’s common knowledge that the traditional RFP process is costly, tedious and time-consuming. In addition, most organizations must retain documentation to meet compliance requirements. This process is outdated and cumbersome.
Further, organizations are required to run Request for Proposals (RFPs) to ensure representation of potential suppliers and their proposals fairly. RFPs are costly to develop, time-consuming to construct and weight the questions, review supplier responses, and ultimately make an educated business decision.
LinkSource has been in the business of helping organizations streamline their processes and network infrastructures in the telecom industry since 1998. They’ve saved clients over $1.6 billion on telecom while managing over $500 million in carrier contracts and more than 150,000 mobile devices globally.
Curt Lewis, CEO of LinkSource, says, “We saw clients struggle over the years with the traditional, yet antiquated, RFP process. We also saw the trend to reduce time and resources required to run an RFP. There had to be a better way, so we decided to build a more simplified, yet fully automated RFP tool that reduced the process down to 60 days or less. DirectRFP® is the answer to these common problems.”
DirectRFP® offers a vast database of existing questions, allowing an RFP to be built within minutes, not weeks.
While there are many RFP tools in the marketplace, most are simply document and time deliverable repositories and do not compare to DirectRFP®.
DirectRFP® benefits and features:
- Online, cloud-based
- RFPs built within minutes, not weeks
- Vast database of questions
- Weights questions and answers
- Ranks suppliers immediately upon completion
- Available to wide range of industries, not just telecom
- Clear audit trail for compliance
- Data retention
- Exportable zip files
LinkSource also offers an entire suite of Telecom Lifecycle Management services, including Telecom Expense Management (TEM). Some full-service options include policy development, policy management and using TEM systems as a single repository to track the activities, which ensures clients have the right tools at their disposal.
One of the largest U.S. public utilities experienced firsthand LinkSource’s ability to help organizations overcome common business problems. They had a vast legacy infrastructure utilizing multiple vendors and through a combination of running an RFP, performing an audit and inventory of their entire network, and building a technology roadmap, LinkSource helped this client reduce their vendor pool by 50 percent, gain a clean baseline inventory, and reduce their annual spend by 15 percent.
Innovation and passion for helping clients streamline their processes and network infrastructures, as well as create efficiencies through technology are driving forces at LinkSource. They set themselves apart by collaborating with clients throughout the entire process, including design, negotiations and implementation all while providing a VIP experience. LinkSource’s agile approach allows them to rapidly adapt to market changes, changes in their client’s business environment and find cost-effective solutions.
The company’s next big step is to provide the same value in Cyber Security. As telecom moves into the cloud, LinkSource believes education on telecom and cyber security risks is imperative, which is why they produced a video series called, “It’s not IF, but WHEN you’ll be Hacked: Cyber Terrorism, Security & Telecom.” Find answers to some of the hardest security and telecom challenges facing organizations in today’s always-connected businesses.
LinkSource continues to work with clients around technology and procurement of such technologies as more services terminate in the cloud, which adds the more current issue of securing client privacy and data.
About LinkSource Technologies®:
LinkSource believes that migrating to new technologies should be a seamless and simple experience for their clients. They partner with organizations to identify their unique business requirements and advise on secure, reliable, cost-effective solutions.
They are recognized technology advisors in the Telecom and Cloud Enablement industries and manage millions in annual client revenue for some of the most prominent global brands. LinkSource is known for thinking outside the box to create opportunities where others see obstacles. Their highly skilled, innovative team brings a fresh approach and perspective to common, and often complex problems. To learn more about LinkSource, click on the button below.