In today’s ultra-competitive global marketplace, MSP services are essential to success. Businesses must look at creative ways to extract more value from providers, while simultaneously reducing risk and upholding quality. Simply beating them down on price year after year is not a sustainable strategy.
This is where vendor-neutral MSP solutions come in. Done well, it’s a repeatable, effective method for developing and monitoring third-party provider services, in order to get as much value as possible from contracts and to build mutually-beneficial long-term relationships.
Our solution covers:
- Spend Visibility: analyzing and understanding your third-party spend
- Vendor Segmentation: classifying your vendors, enabling a segmented approach
- Collaboration: continuous improvement and enhanced vendor communication
- Vendor Performance Management: devising appropriate KPIs to measure performance
- Risk Management: Developing a clear risk strategy and mitigation plan
Atlas follows a process that creates an effective relationship with providers. Here are the four steps:
Step 1: Segmentation
Getting the segmentation right is an essential part of the vendor-neutral MSP process. At this stage, you classify providers based on a number of metrics like risk, profitability, total spend, the volume of transactions, quality of products, performance, and more.
Step 2: Collaboration
Traditional practices focus on price negotiation. To unlock more value from a relationship, buyers need to broaden their focus. By working together with their providers, businesses can take costs and risks out of the bottom line while driving value and innovation to the top.
Step 3: Implementation
Organizations can execute their vendor-neutral MSP process efficiently by tapping into provider capabilities to create mutual value. Buyers and providers can engage in activities like cost optimization, quality management, relationship building, innovation, and risk management.
Step 4: Evaluation
The final stage of the vendor-neutral MSP process is about measuring performance. We use your development plan to check progress with the set targets, and discuss improvement actions to meet evolving needs.