We are a mid sized company that lacks a procurement department or procurement expertise on our finance team. Furthermore, we have limited resources available to deal with major contract negotiations. With a few major contracts coming to end of term, we needed true expertise to help us assess our options, and to manage whatever process we decided to pursue. Ideally we wanted to work with a team that had proven experience and industry knowledge as well.
How did ProcurePro help?
ProcurePro brought very specific expertise in how to deal with major contract events. They took the time to learn our business, and what our requirements were, so that they could develop a custom solution for our company. We decided that the best option for us was to do a full market assessment and RFP. They did a very good market study, determined a number of competitive and qualified companies, did the pre-assessment, completed the RFP and the evaluation.
They helped us make the decision and negotiated the contract, with our assistance. Our only other feasible options were to do this process ourselves, or to renew on the proposed terms from our incumbent provider. We were able to look out for our best interests; much like a much larger company would, without having to build this capability in-house.
Most small and mid-sized companies simply have to “roll over” and do whatever their vendors tell them. They feel they are powerless. ProcurePro fills a niche in the market, in opinion, and makes you feel like you are levelling the playing field.
What was the outcome?
ProcurePro saved us a substantial amount of time and money on our new contract with improved contractual terms (eg. termination rights). Going through the process really clarified our needs and aligned our internal thinking. It educated us on our capabilities and requirements. We ended up with a superior solution, at a lower cost, and I even think the vendors were pleased with how fair, transparent, organized and ethical the entire process was. We have since used ProcurePro for another contract negotiation, and we intend to use them again in the future.