Fortune® 500 Financial Services Company Case Study – Strategic Sourcing & Contract Negotiations

Share on facebook
Share on twitter
Share on linkedin

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:

  1. Lack of Inventory

Client did not have an accurate inventory database to properly source services and benchmark existing rates.

  1. No Expertise

Lack internal expertise to professionally source telecom agreements.

  1. Stakeholder Management

Multiple stakeholders (IT, Finance, Sourcing, etc.) all had different objectives around the direction of the RFP.

  1. Tight Deadline

Limited time to release a large strategic RFP process.

  1. 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.

 

REQUEST YOUR LIVE PRODUCT DEMO

One of our knowledgeable telecom experts will be in touch with you within one business day.