Today’s post is by Alex Borbely, Director of Sales at SafeSourcing Inc
In yesterday’s Part I of this post, I summarized by stating that SafeSourcing’s flexible service offerings and suite of e-procurement tools deliver savings that can be referenced that are greater than 10 times the cost of the service is one thing, proving it is even easier when looking at historical category savings of retail buyers that have utilized the SafeSourcing tools. During my second week back at SafeSourcing I attended two pilot events for a smaller size convenience store chain. The pilot agreement contained two reverse auctions for two categories. Bottom line is that the saving realized on both events were over 20 times savings vs event costs. An immediate ROI is very evident to the retailer. Immediate discussions then went in the direction of what other purchases are being done within the organization that similar savings could be realized. It was very easy to assemble a quick list for discussion purposes. The tool used in this example is a reverse auction using SafeSourcing for new contract purchases, spot buys, replenishment, aggregation, and collaboration with other buying organizations, SAVING you the buyer 30% to 40% even from vendors that you currently buy from today. One of the most important pieces of this offering is the SafeSourcing Supplier Database which has over 427,000 global suppliers. It is easy to use and, utilizing SafeSourcing’s Templates Library, the procurement buyer can reduce time and effort for searching for new sourcing initiatives.
Once the no risk pilot is completed, and a retailer can see the immediate savings that SafeSourcing will bring to their organization, SafeSourcing’s Spend Analysis is offered to assist the retailer in formulating the types of events where SafeSourcing reverse auctions will be utilized. It is important to remember that the buying event can include up to 20 line items in each event and SafeSourcing even offers a provision in the agreement to protect the retailer in smaller “buys” so that the cost of the event is tolerable for smaller volume purchases, such as toner cartridges for office and in-store printers or light bulbs for store fixtures. The results are phenomenal with a ROI second to none with a very quick set up time all provided by a team of professionals that offer a full service offering.
In closing, it is great to be back at SafeSourcing and visiting retailers with such a feature rich offering that provides a low cost of usage and an instant return on investment. I look forward to meeting many retailers representing this exciting full service offering and assisting procurement professionals with striving to bring additional dollars to their bottom line.
For more information on SafeSourcing, or on our Risk Free trial program, please contact a SafeSourcing Customer Service representative. We have an entire team ready to assist you today.