Major Benefits of Cannon Group’s Retained Sourcing Process

Major Benefits of Cannon Group’s Retained Sourcing Process

In today’s competitive business environment, business leaders are constantly on the lookout for innovative new ways to reduce costs while maintaining quality and efficiency. No company can be expected to fulfill its goals on its own – this is where Cannon Group’s retained sourcing process comes in.

Our retained sourcing process analyzes the present state of your company’s expenditures. We monitor what you buy, from whom, and at what price. Then we make suggestions and hold vendor negotiations to ensure that your company has the services it needs and is getting exactly what it pays for. Retained sourcing happens before any purchase has been made and any contract is signed.

This process is extremely beneficial to business leaders who need to put their focus on other key initiatives within the organization and return to doing what they do best: building the success of their companies.

Let’s look further into what major benefits leaders can expect from the retained sourcing process.

Cost Reduction

It’s no secret that every business would like to be able to cut costs where it can. Retained sourcing gives ultimate visibility into the current state of the company’s spend while continuously taking complex factors into account. It eliminates the risk of the potentially high cost of opinion when making decisions. Businesses can expect to pay only for what they need after undergoing our retained sourcing process. Organizations can use this information to make more informed decisions about their cash flow and the services they are paying into. 

Employee expenditures can also be reduced or even occasionally eliminated, as there may not be a need for a full-time IT team in every organization. Retained sourcing allows for the consolidation of purchasing power to secure the best price available to the company.

Increased Knowledge

Sourcing services from outside an organization brings in the benefit of added expertise from the vendor. When IT is managed in house, a company’s IT services are usually put on the shoulders of one employee or a small team to complete. It’s difficult for one IT manager or team to be experts on everything that encompasses IT. Our retained sourcing process connects you with the right vendor, or vendors, to provide enhanced business knowledge in any relevant area. 

Minimized Risk

The retained sourcing process analyzes overall spend with current suppliers. Quality and financial risks are easily identified, and measures can be taken to avoid the risk. By building trusted relationships with vendors, organizations can ensure any problems are quickly identified and dealt with.

Continuous Improvements

This is a continuous process. As the retained sourcing process cycles, stakeholders learn about additional opportunities to improve and bring more value to the company. This helps leadership to identify future development opportunities that may not be apparent at first and ensures the company stays competitive in the market.

In today’s world, organizations of all sizes need a powerful sourcing process to stay relevant and deliver significant benefits to the business.

Looking to streamline your sourcing process? 

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