Coursera_Design Tara Limbu

I Manage the Strategic Sourcing & Vendor Management functions at a major Asset Manager ( Financial firm ) in NY.

Challenge & Selection

 Current State: End to end manual process, limited to none RFx( competitive bidding ) opportunities, non-established or

outdated rate cards and Professional services Agreements’ (PSA’s), non-negotiated or non-existing volume discounts,  inconsistent or lengthy budgeting and accruals. Majority of Statement Of Works (SOWs) are sole-sourced resulting in un- visible, un-managed, un-disciplined SOW spend.

 Scope: To manage end-to-end all Professional Services Statement of Work (SOW) engagements (including deployment

services, project management, product configurations, general consulting services, advisory or management consulting  services ) in Beeline’s SOW module. Tool will manage complete life-cycle of all such SOW’s, including Milestones, Time  sheets, approvals, resources On/Off boardings and Payments

 Selection of Proposed Tools: Third party Vendor Management Systems (VMS) tools, SOW module for Professional

Services / Project based agreements. (With one year into the Contingent Workforce Program (CWM) program we had  successfully rolled out our Contingent spend management via VMS CWM module. We are now ready to expand the scope  to capture and manage all other Professional Services Statement of Works in our VMS’s SOW module.

Vendor Management Solution (VMS): web-based solution to track and monitor all SOW activities End-to-End requisition  lifecycle

 Automated workflow with customized pre-approvals

 Facilitated candidate review process and continuous industry benchmarking

 Standardized bill rates within job classifications and job titles

 Automated reporting (headcount, rates, skill sets, tenure, term expiry)

 Consolidated invoicing and reporting

 Future state: To be the first to know - with a centralized view of all stages—from negotiation and sourcing, through

engagement management to invoice and payment—a Services Procurement solution will give us the right tools and insight  to manage and administer Competitive Bidding , Statement of Work Negotiation , Custom Approval work flows, Real  Time Project Tracking , Time & Expense to Billing, Avoid CWM spend running into SOWs and Payment accuracy to One  click Reporting, Analytics, Forecasting & Budgeting and Savings

 Achieve: Value, Controls, Efficiency, Competitiveness, Compliance, Visibility, Discipline and Savings. Estimate 8-10%

overall savings

Application Process:

Pre Go-Live:  Discover, Identify Active SOWs (where the spend resides), validate SOW’s, PSA’s

o  RFQ rate card requests to identified suppliers with a standard set of titles including establishing Volume  Discount structure for current and future years spend.

o  PSA Amendments: add Service Procurement fees, insurance requirements, confidentiality or Personal  identity Information (PII) information assessment, etc.

o  VMS’s SOW module Implementation at no additional cost.

Phase I Go-Live:  Adopt identified SOW Suppliers along with their consultant headcount

Coursera_Design Tara Limbu

Post Go-Live:  Add NEW / RENEWAL Professional Services SOWs as they materialize. (All new SOW’s subject to competitive  bidding or/and negotiations before being tracked in VMS’s SOW module)

Phase II Go-Live: Adopt all remaining active professional services spend categories, including Audit, Legal and Professional  fees.

Insight & Approach:

 Even the best performing and most fairly-priced consulting firms loath competitive bidding on accounts they are already

servicing. After building hard-won relationships, extending favors and other no-cost value-adding benefits, suppliers often  feel they have earned a direct-source privilege. And, perhaps some have. However, competitive bidding isn't meant to  undermine positive relationships between customers and suppliers. As seen on the more mature temp-labor side of  contingent workforce programs, competitive bidding helps to create a more fair and level playing field for the suppliers.  Even without competitive bidding, just having access to historical SOW pricing is reported to bring in 6 percent on contract  savings. And, with e-enabled sourcing and invoicing efficiencies, contingent workforce managers are often able to negotiate  early-pay discounts and volume rebates.

 Beyond hard cost savings, yet another compelling reason to integrate SOW activity into a contingent workforce program is

onboarding/offboarding controls and efficiencies. Without a central data repository of who is coming and going, and who  ought not to return, effective controls become impossible. Equipment allocations, worker return eligibility checks,  background checks, drug screening, network ID administration, photo ID badging, desk and phone assignments -- each of  these downstream elements can be made more efficient and effective with a central data repository and transactional  system such as a VMS. While a VMS is not the only technology able to accomplish this task, it is best suited to do so because  it is the only known technology to seamlessly support the complete worker lifecycle -- the highly sought-after one-stop- shop. To this point, if you want someone to fill out an onboarding form properly, make it easy to do so, and tell all parties  involved that money won't flow until it is done properly. Similarly, by tying offboarding tasks to PO end dates, the gap  between when someone leaves and when his or her access to systems and facilities is terminated can be shrunk to nothing.

Manager/Business Users achieve:

 Visibility into performance metrics

 Operational Efficiency

 Competitive Bids

 Standardized Rate Cards

 Improved visibility into Bid/Proposal Process

 Eliminate the need to validate Clarity Timesheets

 Eliminate manual Invoice/Timesheets approvals

Coursera_Design Tara Limbu

Pros / Future State

Formal, organized or mature management function to provide governance and operational support for SOWs. Create

Centralized process to route all SOWs through VMS

Optimization / Supplier Tiering and Vendor performance

Negotiate Standardized Rate Cards

Negotiate Volume Discounts

Enforce Competitive bidding / RFx for all New SOWs

Enforce Change orders/Extensions are limited or established total SOW $ limits thereby limiting overruns

Limit, restrict Sole sourced engagements unless justified.

VM obtain rate card & negotiate Sole sourced agreement

Enforce most current and consistent Client PSA’s or Amendments to cover current regulatory and worker mis-

classification requirements.

Beeline will house all PSAs, COI’s & SOWs in the SOW module. Real time spend : budget insights

Automated approval workflows


Coursera_Design Tara Limbu I Manage the Strategic Sourcing & Vendor Management functions at a major Asset Manager ( Financial firm ) in NY . Challenge & Selection  Current State : End to end manual process , limited to none RFx ( competitive bidding ) opportunities , non - established or outdated rate cards and Professional services Agreements ’ ( PSA ’s ) , non - negotiated or non - existing volume discounts , inconsistent or lengthy budgeting and accruals . Majority of Statement Of Works ( SOWs ) are sole - sourced resulting in un- visible , un - managed , un - disciplined SOW spend .  Scope : To manage end - to - end all Professional Services Statement of Work ( SOW ) engagements ( including deployment services , project management , product configurations , general consulting services , advisory or management consulting services ) in Beeline ’s SOW module . Tool will manage complete life - cycle of all such SOW ’s , including Milestones , Time sheets , approvals , resources On / Off boardings and Payments  Selection of Proposed Tools : Third party Vendor Management Systems ( VMS ) tools , SOW module for Professional Services / Project based agreements . ( With one year into the Contingent Workforce Program ( CWM ) program we had successfully rolled out our Contingent spend management via VMS CWM module . We are now ready to expand the scope to capture and manage all other Professional Services Statement of Works in our VMS ’s SOW module . Vendor Management Solution ( VMS ): web - based solution to track and monitor all SOW activities End - to - End requisition lifecycle  Automated workflow with customized pre - approvals  Facilitated candidate review process and continuous industry benchmarking  Standardized bill rates within job classifications and job titles  Automated reporting ( headcount , rates , skill sets , tenure , term expiry )  Consolidated invoicing and reporting  Future state : To be the first to know - with a centralized view of all stages — from negotiation and sourcing , through engagement management to invoice and payment — a Services Procurement solution will give us the right tools and insight to manage and administer Competitive Bidding , Statement of Work Negotiation , Custom Approval work flows , Real Time Project Tracking , Time & Expense to Billing , Avoid CWM spend running into SOWs and Payment accuracy to One click Reporting , Analytics , Forecasting & Budgeting and Savings  Achieve : Value , Controls , Efficiency , Competitiveness , Compliance , Visibility , Discipline and Savings . Estimate 8 - 10 % overall savings Application Process : Pre Go - Live : Discover , Identify Active SOWs ( where the spend resides ) , validate SOW ’s , PSA ’s o RFQ rate card requests to identified suppliers with a standard set of titles including establishing Volume Discount structure for current and future years spend . o PSA Amendments : add Service Procurement fees , insurance requirements , confidentiality or Personal identity Information ( PII ) information assessment , etc . o VMS ’s SOW module Implementation at no additional cost . Phase I Go - Live : Adopt identified SOW Suppliers along with their consultant headcount Coursera_Design Tara Limbu Post Go - Live : Add NEW / RENEWAL Professional Services SOWs as they materialize . ( All new SOW ’s subject to competitive bidding or / and negotiations before being tracked in VMS ’s SOW module ) Phase II Go - Live : Adopt all remaining active professional services spend categories , including Audit , Legal and Professional fees . Insight & Approach :  Even the best performing and most fairly - priced consulting firms loath competitive bidding on accounts they are already servicing . After building hard - won relationships , extending favors and other no - cost value - adding benefits , suppliers often feel they have earned a direct - source privilege . And , perhaps some have . However , competitive bidding is n't meant to undermine positive relationships between customers and suppliers . As seen on the more mature temp - labor side of contingent workforce programs , competitive bidding helps to create a more fair and level playing field for the suppliers . Even without competitive bidding , just having access to historical SOW pricing is reported to bring in 6 percent on contract savings . And , with e - enabled sourcing and invoicing efficiencies , contingent workforce managers are often able to negotiate early - pay discounts and volume rebates .  Beyond hard cost savings , yet another compelling reason to integrate SOW activity into a contingent workforce program is onboarding / offboarding controls and efficiencies . Without a central data repository of who is coming and going , and who ought not to return , effective controls become impossible . Equipment allocations , worker return eligibility checks , background checks , drug screening , network ID administration , photo ID badging , desk and phone assignments -- each of these downstream elements can be made more efficient and effective with a central data repository and transactional system such as a VMS . While a VMS is not the only technology able to accomplish this task , it is best suited to do so because it is the only known technology to seamlessly support the complete worker lifecycle -- the highly sought - after one - stop- shop . To this point , if you want someone to fill out an onboarding form properly , make it easy to do so , and tell all parties involved that money wo n't flow until it is done properly . Similarly , by tying offboarding tasks to PO end dates , the gap between when someone leaves and when his or her access to systems and facilities is terminated can be shrunk to nothing . Manager / Business Users achieve :  Visibility into performance metrics  Operational Efficiency  Competitive Bids  Standardized Rate Cards  Improved visibility into Bid / Proposal Process  Eliminate the need to validate Clarity Timesheets  Eliminate manual Invoice / Timesheets approvals Coursera_Design Tara Limbu Pros / Future State Formal , organized or mature management function to provide governance and operational support for SOWs . Create Centralized process to route all SOWs through VMS Optimization / Supplier Tiering and Vendor performance Negotiate Standardized Rate Cards Negotiate Volume Discounts Enforce Competitive bidding / RFx for all New SOWs Enforce Change orders / Extensions are limited or established total SOW $ limits thereby limiting overruns Limit , restrict Sole sourced engagements unless justified . VM obtain rate card & negotiate Sole sourced agreement Enforce most current and consistent Client PSA ’s or Amendments to cover current regulatory and worker mis- classification requirements . Beeline will house all PSAs , COI ’s & SOWs in the SOW module . Real time spend : budget insights Automated approval workflows