indysource key focus areas on the Virtual Office
Having a service industry that is undergoing massive change, it is crucial for the advisors to be able to interpret the importance and relevance of the opportunities relating to key industry changes, technology futures and standardisation. It is the indysource vision to provide MarketInfo (I) by the collaborative development and sharing of knowledge, experience and opportunity.
The indysource methodology, Dialogue (II), leverages leading industry standards like eSCM, ISO 37.500, Vested® Outsourcing and Best Value Procurement with a solid focus on Design Thinking principles. Our Dialogue (II) methodology and QA approach is constantly kept relevant and reviewed against standardization opportunities through structured feedback from members and the service industry.
Indysource believes that the sourcing process should focus on interaction and collaborative design, which focuses on minimising the re-iteration and multiple unrelated versions of the same discussions. Our Tender-Management-Office-as-a-Service (TMOaaS) DealRoom (III) platform focuses the interactive process around the key and unique challenges of the client and prospective suppliers solutions.
As the industry matures there has been a trend of experienced sourcing advisors setting up as an independent. This change in the market has provided a challenge for the service industry to engage with this important group in order to have key conversations, meetings/events and discussions on opportunities.
Indysource is building the Network(IV)!
MarketInfo (I): Making sense of the Opportunities
indysource provides the advisors with an online platform for Market Interaction to conduct Market Challenges (Pull) exchange and research ideas, knowledge and understanding, partly through on-line member forum, but also by providing access to the information (Push) that the service industry provides to the advisor community in an easy-to-access manner.
Based on industry interactions and input from the independent advisors and the business partners, indysource provides a Research Agenda to develop a deeper understanding on industry changes, technology futures and standardisation and key issues and receive feedback and review of potential improvements and opportunities.
indysource conducts structured Member Surveys using online questionnaires amongst the members to identify trends and key issues, and provide feedback to the service industry on the performance and positioning the overall market and in independent advised sourcing projects.
Throughout the year indysource conducts larger (commissioned) and smaller (online questionnaires) Multi-Client Studies for a more fundamental analysis of specific topics to help progress the sourcing profession as a whole and get a better insight into the workings of deal making.
Dialogue (II): Future Sourcing
Unlike the traditional RFx processes which look much like a ’stop and halt’ waterfall approach, Dialogue (II) uses an iterative approach to develop a win-win solution ready to cope with the ever-changing client’s requirements and technologies futures, documented in a change-enabled agreement and validated against the due diligence info.
In the sourcing of complex projects and services it impossible for one party to have all the knowledge and be ’the expert’. Dialogue (II), through collaborative development of the solution, looks to create exponentially value, based on the requirements of the client and emphasizing the differentiators of each bidder.
Dialogue (II), leverages leading industry standards and design thinking, like eSCM, ISO 37.500, Vested® Outsourcing and Best Value Procurement. The Dialogue(II) methodology and QA approach is a best practice-based methodology, continuously improved and optimized (simplification) through feedback from the independent advisors, their clients and the services industry.
The Dialogue (II) process is optimised to leverage automation through software support to reduce the non-value add activities and moving the administration heavy RfX process to a highly automated and tool-supported tender management office, allowing the advisor, client and bidders to focus on the iterative and collaborative process.
DealRoom (III): Tender Management Office as a Service (TMOaaS)
Through structured workshops, you collect the key information for scoping and structuring the tender process. The DealRoom (III) technology and support process (authoring) lets you then quickly assemble the necessary bid instructions, response formats and draft agreement in terms of days instead of weeks. If needed, it will easily integrate mandatory customer formats.
The DealRoom (III) lets you easily invite prospective bidders and provides the DealRoom (III) and process to effectively interact with the bidders during the tender process, through structured workshops and an online Q&A process. The DealRoom(III) platform is secure, auditable and constantly seeks to reduce the administrative burden.
The DealRoom (III) supported tender process starts with the end in mind, i.e. a fit for purpose signed agreement with the right service provider with the right solution for the right price. Continuous evaluation of the actual bidder responses drive the tender process within the DealRoom (III), not a separate excel sheet driven process step.
Once the responses of the bidders have been received, the DealRoom(III) technology and process focuses on closing down points and issues. Clearly highlighting what is still open and what has been agreed. It ensures the interactive process isn’t just a bunch of PowerPoint sales pitches but is documented in a signable agreement.
Network (IV): Powered by indysource
indysource is constantly expanding its Network (IV) and powering more and more independent professionals, collaborative networks and boutique sourcing advisory firms. The target is to get to 100% of the active independent advisors, and 100% of the independent advised deals which indysource calls the percentage game.