Here’s 3 ways procurement advisory services can help your business…
Are you looking for procurement advisory services? Perhaps you want to know more about the benefits. Well, you’re in the right place! At Hudson Procure, we strive to educate anyone we can about the procurement process, and everything related.
In this blog, we will cover the following:
- What are these services?
- How can these advisory services help you?
- Choosing the right firm or consultant.
So, keep reading to learn more about procurement advisory services…
What are procurement advisory services?
Before we get into the benefits of procurement advisory services, we should cover what these services are. For those who are asking themselves, ‘what is procurement?’, the process is simply where an organisation buys goods or services from another. The process of procuring these goods or services, however, can be drawn out and tricky. For the best value for money (and various other reasons) it is best to seek the advice of Procurement Specialists. They can offer services that range from some basic advisory to full procurement management.
How can procurement advisory services help you?
Now, let’s discuss how procurement advisory services can benefit your organisation.
1. You will be guided by experienced experts
One of the biggest benefits of procurement advisory services is that these experts have the experience. If you are new to procurement, it will likely feel intense. There is a lot to cover, after all. Having an expert guide you through it is, without a doubt, a huge advantage.
2. They know what to look for when evaluating suppliers
When it comes to the tender evaluation process, you may feel swamped. Having several suppliers to compare can be stressful. With procurement advisory services, they can support you through the entire process. They can even award the contract on your behalf. They know what a winning bid looks like and how to recognise the best suited supplier. This way, you can rest assured that your chosen supplier is the best for the job.
3. They can help you to produce tendering documents
When you need to procure services, you can send out an invitation to tender (ITT) or request for proposal (RFP). These tender documents will feature every minute detail about the work you require. It should also feature various questions for suppliers to showcase their knowledge and experience. You want to use these documents to narrow down the perfect supplier, so they need to be done thoroughly. When you receive procurement advisory services, they can help you ensure the quality of your documents.
Choosing your procurement advisory services firm or consultant
Now that you know more about procurement advisory services, you may wonder how to choose the right one. This is a crucial stage in ensuring you are happy with the expert(s) you work with. Here are a few tips for what to look for when choosing a sourcing consulting firm or Strategic Sourcing Consultant:
- Make sure that they can back up their claims. If they are experts, they will be able to show you examples of their experience and success.
- You can ask for examples of previous work with clients in a similar size and sector to your own.
- Ensure the firm has all the right credentials.
- Meet them to get a feel of their attitude towards you and the project.
- Review their methodology and compare it with your requirements.
- See what details and information they will need from you. This will help you to avoid delays.
- See if the firm or consultant is independent. This will determine whether they are biased with recommending specific solutions.
Summary
Now that we have reached the end of our blog on procurement advisory services, let’s recap!
· What are procurement advisory services?
They are a type of service where expert procurement specialists support businesses. It involves guiding an organisation through the process of buying goods/services from another company.
· How can procurement advisory services help you?
- You will be guided by experienced experts
- They know what to look for when evaluating suppliers
- They can help you to produce tendering documents.
· Choosing your procurement advisory services firm or consultant
When looking for the right firm for procurement advisory services, you should check:
- They have any relevant accreditations
- The team are experienced and have a specialist in your field
- A proven history of success
- Have a good attitude towards you
- A fitting methodology
- Check if they are independent
- See what information they need from you to avoid delays
- They have examples of working with a similar client.
If you still have questions about procurement advisory services, why not contact us? Our Sourcing Specialists are always happy to help!
How can Hudson Procure help with the procurement process?
At Hudson Procure, our procurement experts have nearly two decades of experience. No matter what kind of support you’re looking for, we can help.
Procure Consult
With Procure Consult, we’re offering support with tender management and ad-hoc procurement consultancy. Our expert team will manage the end-to-end procurement process or offer assistance at any stage, as and when required.
Procure Health Check
With Procure Health Check, we’ll conduct a full review of the strategic and operational procurement processes within your organisation. We’ll identify the areas that need improvement and help you drive greater value from the procurement process.
Procure Analyse
The purpose of Procure Analyse is to conduct a high-level analysis of your spending activity. We’ll help you understand your current strategic purchasing behaviour and highlight areas that can deliver greater value. Offered as part of Procure Health Check or as a standalone service.
Procure Outsourcing
With Procure Outsourcing, we deliver a range of procurement solutions on an outsourced basis, completely bespoke to you. This can range from delivering multiple tender projects as a package to delivering the full procurement function of your organisation.
Procure Post
With Procure Post, you can share your tender on one or more of our 11 sector-specific portals. This way, you’ll increase your chances of finding the perfect supplier.
Get in touch for a consultation and find out how we can help your business grow.
Check out our other blogs for further Procurement Insights:
