The Client
One of the largest providers of financial services technology and global solutions with over 52,000 employees and operations globally.
The Challenges
Client decided to take some of their largest expiring telecom contracts out to RFP. Given the size of the scope, Client reached out to Teligistics 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 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 properly benchmark current services.
Provide Client with nearly 80 years of combined telecom sourcing and contract expertise.
Manage all sourcing objectives and score vendor responses based on Clients 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 strength of leverage for strategy mapping.
Results
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 vendors.
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.
