Case Study: Efficient Procurement of Contractual Resources
ShoreWise provides its client with unique contractual resourcing services.
Our client is a major IT Services company that provided business process outsourcing services to Fortune 500 companies. These services were managed by long-term contracts with detailed terms and conditions. The company’s key pain point was the lack of central visibility of the business contracts. We at ShoreWise helped them seek contract workers as per their business requirements. We also helped the client procure, monitor, and optimize their contracts with both cost and time savings.
Our client had been in the IT Services business for years and had hundreds of clients across various domains of the IT industry. They were known to provide project services to a wide variety of clients for which they needed Contractual Hires on a timely basis. They needed a system to effectively monitor and manage all service commitments. At the same time, they needed to overhaul their contractual resources. They also needed to employ contract employees in major sections of their organization or renew existing contracts at improved terms of contracts.
The company provided services across various industry domains and therefore needed a regular supply of contractual resources. However, their existing system in the company faced a number of issues.
– Their Procurement Team was unable to strategize and save costs across various contractual resources and vendor sets.
– They had a manual process to capture, identify, and track contracts which resulted in many contract-commitment-related issues.
– Manual organization and processing of contracts resulted in long cycle times.
– The existing system also caused a lack of visibility.
Our Contractual Resourcing team had a detailed discussion with the client and their in-house procurement team to decide about the type of resources needed by the company. We took note of their pain points and designed customized solutions to help them with procurement as well as management of the resources.
Shorewise team provided the client with its full support. We assisted our client with the hiring of a highly engaged and motivated troupe of contract employees. WE helped them to frame out the terms of the contract and the compensation structure as per the business requirements.
We also helped the client to manage their existing contractual resources. We partnered with them to automate manual processing work in accordance with their suggested guidelines.
We at ShoreWise assisted the client with a proper and efficient procurement and management of their contractual resources. Our services provided the client with several benefits. They led to the achievement of business outcomes as per the client’s expectations.
With our efforts, the client managed to cut their contract cycle by 50%. Improved quality of resources resulted in much better governance.