Tag: sourcing

When High Tech meets High Touch: Generative AI in CX | Networking Event

Networking event

intelligent sourcing networking dinner

April 18, 2024

Catch Everest Group Partner, David Rickard at Intelligent Sourcing’s dinner event on April 18, 2024. David’s keynote is titled When High Tech meets High Touch: Generative AI in CX.

Rickard David
David Rickard
Partner, Everest Group
Riya Munjal 1
Kumar Santhosh
Aniruddha edited

The Evolution of Sourcing in APAC – How to Plan for APAC’s Evolving Outsourcing and Service Delivery Landscape | Virtual Roundtable

Virtual Roundtable

The Evolution of Sourcing in APAC - How to Plan for APAC's Evolving Outsourcing and Service Delivery Landscape

August 2, 2023 |
11 AM IST | 1:30 PM SGT | 2:30 PM JST | 3 PM ACT

The services industry is experiencing multiple microtrends in the APAC region, including the emergence of new service delivery locations, the advent of generative AI, the race to cloud modernization, the growing significance of ESG practices, and endless software price increases.

In this exclusive buy-side forum, participants will engage in an open discussion centered around these rising uncertainties and shifts in the outsourcing landscape and how sourcing and supplier management peers are reacting by adapting their sourcing portfolios, delivery locations mix, and relationships with service providers.

Join this virtual roundtable discussion to participate in conversations with our expert analysts and your sourcing peers. Attendees will gain valuable insights into how sourcing and supplier management teams in APAC are evolving to meet the rising market demands.

Participants will explore:

  • The outsourcing trends across various service categories
  • How sourcing and supplier management teams are reacting to trends such as generative AI, ESG, price hikes, and emerging service delivery locations
  • How the sourcing portfolio is evolving as we move beyond uncertainties and redefine strategies

Who should attend? 

  • Sourcing teams
  • Outsourcing management teams
  • VMOs, CPOs
  • Procurement teams
  • Supplier management teams
  • Procurement and supplier management in GBS
  • Pricing and contracting teams
  • Deal optimization teams
  • Category managers
  • Location optimization teams

Virtual Roundtable Guidelines 

The only price of admission is participation. Attendees should be prepared to share their experiences and be willing to engage in discourse. 

Participation is limited to enterprise leaders (no service providers). Everest Group will approve each attendance request to ensure an appropriate group size and mix of participants. The sessions are 90 minutes in duration and include introductions, a short presentation, and a facilitated discussion. 

 

 

Parul Jain
Bhanushee Malhotra

US Contingent Talent and Strategic Solutions PEAK Matrix® Assessment 2023

US Contingent Talent and Strategic Solutions PEAK Matrix® Assessment

After the COVID-19 pandemic, the demand for contingent talent surged, leading to continued growth in the US contingent talent and strategic solutions industry throughout 2022. The scarcity of skilled workers drove this growth, as enterprises faced ongoing challenges in acquiring talent due to both a skills shortage and voluntary employee turnover. Despite concerns about an impending recession, the talent supply and demand imbalance persisted, resulting in a prolonged talent shortage in the US. This situation created an opportunity for providers of contingent talent and strategic solutions to address the talent gap by investing in various areas, including technology-driven solutions, managed services, learning and upskilling programs, and fostering DEI.

US IT Contingent

US Engineering US Business and Professionals US Industrial

What is in this PEAK Matrix® Report

This report analyzes the intricate dynamics of the US contingent talent and strategic solutions provider landscape and its impact on the overall US contingent talent and strategic solutions market in 2022. It specifically focuses on IT staffing, engineering staffing, business and professionals staffing, and industrial staffing. The report provides a comprehensive overview of the market and examines how providers differentiate themselves using the extensive Everest Group PEAK Matrix® as a benchmark for analysis.

The report analyzes the performance of various contingent talent and strategic solutions providers and offers:

  • The US contingent talent and strategic solutions provider landscape
  • The US Contingent Staffing Provider PEAK Matrix® Assessment:
    • Classification of 28 US IT contingent talent and strategic solutions providers into Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework
    • Classification of 22 US engineering contingent talent and strategic solutions providers into Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework
    • Classification of 23 US business and professionals contingent talent and strategic solutions providers into Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework
    • Classification of 21 US industrial contingent talent and strategic solutions providers into Leaders, Major Contenders, and Aspirants on Everest Group’s proprietary PEAK Matrix® framework
  • Everest Group’s analysis of providers:
    • US contingent talent and strategic solutions providers’ capability assessment on seven dimensions: market adoption, portfolio mix, value delivered, scope of services offered, innovation and investments, delivery footprints, and vision and strategy
    • Remarks on key strengths and limitations of each contingent talent and strategic solutions provider

Scope:

  • Industry: contingent talent and strategic solutions
  • Geography: US
  • Skills coverage: IT, engineering, business and professionals, and industrial

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What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

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Revenue Cycle Management (RCM) Operations PEAK Matrix® Assessment 2023

Revenue Cycle Management (RCM) Operations PEAK Matrix® Assessment

2022 was a tumultuous year for the US healthcare provider landscape. With patient volumes still below pre-pandemic levels, an increase in the average length of stay, severe talent shortages, and escalating costs, nearly half of the hospitals in the country faced negative margins. As healthcare providers face mounting revenue pressures, they are prioritizing the futureproofing of their revenue cycle operations. To overcome the current challenges, healthcare providers are seeking the support of third-party providers to optimize and streamline their revenue cycle processes.

RCM Peak

What is in this PEAK Matrix® Report

In this report, we assess 31 providers featured on the Revenue Cycle Management (RCM) Operations PEAK Matrix® Assessment 2023. Each profile offers a comprehensive picture of the provider’s service focus through a snapshot of its key strengths and limitations.

In this report, we examine:

  • The RCM Operations PEAK Matrix® Assessment 2023
  • Key insights into PEAK Matrix® dimensions
  • The RCM BPS provider landscape
  • Providers’ capabilities and market shares
  • Providers’ key strengths and limitations

Scope:

  • Industry: healthcare
  • Geography: global
  • Service: RCM Business Process Services (BPS)
  • The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading RCM providers, client reference checks, and an ongoing analysis of the RCM services market

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What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

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Supply Chain Management (SCM) BPS – PEAK Matrix® Assessment 2023

Supply Chain Management (SCM) BPS – PEAK Matrix® Assessment

Enterprises grapple with various supply chain challenges, including evolving customer demands, planning limitations, and disruptions in production and distribution. Amid recessionary headwinds and geopolitical tensions, enterprises are increasingly seeking third-party support to address these challenges. Rather than relying solely on providers for cost reduction, enterprises now collaborate with them to add value across the entire supply chain using technology, process expertise, and specialized talent. To serve this need, providers are enhancing their capabilities by cultivating domain-specific expertise, forging strategic technological and consulting partnerships, and developing state-of-the-art solutions to help enterprises navigate these challenges, reduce environmental impact, and achieve sustainability goals. 

Everest Group Supply Chain Management SCM BPS PEAK Matrix Assessment 2023

What is in this PEAK Matrix® Report

In this report, we assess 14 Supply Chain Management (SCM) providers on Everest Group’s PEAK Matrix®  and categorize them as Leaders, Major Contenders, Aspirants, and Star Performers based on their capabilities and market impact. The study will assist key stakeholders (providers, buyers, and technology vendors) understand the current state of the SCM provider landscape.

In this report, we:

  •  Present the SCM BPS PEAK Matrix® Assessment 2023
  • Provide key insights into PEAK Matrix® dimensions
  • List providers’ strengths and limitations
  • Discuss enterprise sourcing considerations
  • Examine the SCM BPS provider landscape

Scope:

  • All industries and geographies
  • Services: Supply Chain Management (SCM) Business Process Services (BPS)
  • The assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading supply chain service providers, client reference checks, and an ongoing analysis of the SCM BPS market

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What is the PEAK Matrix®?

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ProcureCon IT Sourcing Event 2023

EVENT

ProcureCon IT Sourcing 2023

June 26 - 27, 2023 |
Boston Marriott Copley Place, Boston, MA

Everest Group is a proud sponsor of ProcureCon IT Sourcing, taking place from June 26 – 27, 2023, at the Boston Marriott Copley Place, Boston, MA. Everest Group Partners Amy Fong and Achint Arora  will be hosting a Tech Negotiators Workshops at the event titled IT Services – What’s Working in 2023.

Register for this event

For those sourcing global services, the last few years have been a roller coaster, with talent shortages leading to previously unheard-of mid-contract cost increase requests. Join Everest Group analysts and your peers to talk about how buyers are successfully managing costs, talent, and locations decisions in IT services. We’ll discuss the following questions, plus your own challenges:

  • What is going on with attrition and retention at leading service providers?
  • Have price increases leveled out? Which roles still demand a premium?
  • Which five actions can enterprises take to achieve better cost optimization in a changing market?
  • Should we consider new locations onshore, nearshore, or offshore? 
  • What strategies should we be considering to support our organization’s digital transformation initiatives?

Register for this event

Hosted by:

  • Amy Fong, Partner, Sourcing and Vendor Management, Everest Group
  • Achint Arora, Partner, Pricing Assurance, Everest Group
  • Christina McLaughlin, Director, Category Strategy – Professional Services, Liberty Mutual Insurance

Where
Boston Marriott Copley Place, Boston, MA

Speakers

Fong Amy Refresh gray square
Amy Fong
Partner, Sourcing and Vendor Management, Everest Group
Arora Achint Refresh gray square
Achint Arora
Partner, Pricing Assurance, Everest Group
Aniruddha edited

Are you Considering Agile Sourcing? | Webinar

WEBINAR

Are you considering agile sourcing?

April 25, 2023
4:30 AM EST | 9:30 AM BST

Join Everest Group Partner, David Rickard, on the 25th April at 09:30AM – 11:00AM in this virtual event as the panel looks at examples of those who have successfully implemented agile sourcing and the challenges they have faced along the way.

Agile sourcing is a strategy that prioritises flexibility, speed, and collaboration between the sourcing team and supplier. It is something all procurement and sourcing professionals are aware of as a concept and many claim to understand to a greater or lesser degree.  But how many know the right time and place to implement it?

To implement an agile sourcing strategy, companies should focus on developing the skills of their sourcing team, investing in technology that supports collaboration and real-time communication, and establishing clear processes and guidelines. First and foremost it’s important to understand the key fundamentals of agile sourcing and then to pick the right projects to take down this path. 

Register for the webinar

David Rickard
Partner, Everest Group
Rosalyn Olney
Partner, Source-Re
Sandrine Trinh
Senior Director, R&D, Galapagos
Angela Wyatt
Consulting Director, Horizon Seven

SIG Procurement Technology Summit 2023

EVENT

SIG PROCUREMENT TECHNOLOGY SUMMIT 2023: Controlling the Sprawl: A Template for Managing Your IT Tail

April 16-19, 2023

Everest Group is a proud sponsor of SIG’s 2023 Procurement Technology Summit, taking place from April 16 – 19, 2023, at the Omni Amelia Island Resort in Amelia Island, FL.

Everest Group Partners Jimit Arora and Amy Fong will be presenting at the event in a topic-based roundtable discussion titled, Controlling the Sprawl: A Template for Managing Your IT Tail. 

Register for this event

As organizations go deeper into digital transformation, the portfolio of IT suppliers has become broader. Sourcing often faces the challenge of rationalizing the supply base to address non-efficient tail spend. Collaboration with IT is critical, and it helps to have a structured approach at the start. In this interactive roundtable, you will gain insights and participate in a discussion on taming the IT tail.
 

Questions to consider during this roundtable discussion include:

  • How can sourcing articulate the value of portfolio rationalization with stakeholders?
  • Which frameworks work best for analyzing and guiding decisions on IT categories?
  • When should we let go of the traditional sourcing lever of “volume consolidation” and look for rational ways to expand the portfolio?
You will learn:
  • How to define and promote the benefits and drawbacks of portfolio rationalization
  • How a rationalized supplier portfolio can be impacted by changing market trends
  • How to build a framework to guide stakeholders in evaluating IT tail spend 
  • Strategies to turn legal from the “deal preventor” to the “business enabler”
 
Where
Omni Amelia Island Resort, Amelia Island, FL
 
Speakers
Partner
Partner

Building a Resilient Supplier Cyber Risk Management Strategy | Blog

Sharing sensitive data with outsourcing providers in today’s interconnected digital world has increased organizations’ vulnerability to cyberattacks, making it more important than ever to have an effective supplier cyber risk management strategy. To protect against threats, read on to learn the best practices for supplier cyber risk management.  

In today’s risky and interconnected environment, it has become essential for organizations to have a supplier cyber risk management strategy to identify, protect, detect, respond, and recover from supply chain cyberattacks.

The critical importance of relationships with outsourcing service providers has been amplified by the pandemic and recent geopolitical turmoil due to the Ukraine-Russia crisis. Outsourcing suppliers now play a vital role in running business operations, and these partnerships have grown more sophisticated.

With data sharing between the two parties increasing multifold, organizations have greater exposure to ransomware attacks, phishing, denial-of-service, and other cyberattacks.

Depending on the sensitivity of data shared with suppliers, the potential risk of data loss can impact an organization’s business operations – making it essential to develop a supply chain cyber risk management plan to protect from significant financial and operational impacts.

Not having a formal supplier cyber risk management strategy can cause compliance issues. With scrutiny on global supply chains intensifying, a lack of supplier insights can lead to government regulation violations, resulting in financial losses and tarnishing an organization’s brand.

As suppliers have access to sensitive and business-critical information, managing permissions and protecting data from unauthorized access, misuse, and data loss become crucial.

Further, many other risks exist from a supplier’s operational perspective, including issues related to geopolitics, bankruptcy, and macro risks. Organizations should have complete supply chain visibility to rapidly respond to susceptibilities and disruptions at the supplier’s end.

All of these factors can have a long-lasting impact on an organization’s image and reputation, potentially deteriorating customer loyalty and trust. Hence, having a resilient supplier cyber risk management strategy that includes visibility, transparency, clear communication, and collaboration has become non-negotiable for organizations.

The Everest Group risk management matrix

Let’s take a look at the different risk scenarios and their remedial measures below:

Picture2 1

Exhibit 1: Everest Group Supplier Management Toolkit: Risk Management in Outsourcing

Best practices for developing a supplier cyber risk management strategy

Developing a Supply Chain Risk Management (SCRM) program is indispensable for organizations as they become increasingly vulnerable to supply chain attacks.

Currently, the risk management focus in outsourcing is limited to compliance requirements such as the Sarbanes-Oxley Act (SOX), Service Organization Control (SOC) certifications, industry-specific compliances such as Health Insurance Portability and Accountability Act (HIPAA) and Health Information Trust Alliance (HITRUST), and criminal background verifications.

Other vital factors such as geopolitical and offshoring risks have not yet become key executive priorities. Further, as more companies lean on service providers to drive digitalization and corresponding transformation in their outsourced processes, organizations rarely try to identify potential risks and establish associated mitigation/contingency plans.

Some industry best practices such as ISO/IEC 27036:2013 and the NIST Cybersecurity Framework have been updated to include information security for supplier relationships, highlighting the importance of SCRM in corporate security. In terms of cyber security, this involves:

  • Defining cyber security requirements and measures that apply to suppliers based on their risk category
  • Enforcing these requirements via formal agreements (e.g., contracts) to ensure suppliers enter a binding commitment
  • Verifying and validating communication and access from and to suppliers
  • Ensuring effective implementation of cyber security requirements
  • Managing and supervising the above activities periodically

To optimally engage with and manage suppliers, the entire supplier life cycle should be organized into these three phases:

  1. Before and during the contracting phase – Screening suppliers before onboarding is essential for organizations to assess financial, operational, and reputational aspects. Procurement heads need to carry out background checks to ensure suppliers’ compliance status and performance viability. An exhaustive contract with legally binding responsibilities related to cyber security for both the organization and its suppliers should be created. This contract should define fundamental and high-level security requirements and privacy-based controls for supplier relationships at every point in the life cycle
  2. During the ongoing relationship – Once suppliers are onboarded, organizations must track all assets suppliers can gain entry to in a central repository. Customers should categorize suppliers into different risk classes based on how critical the information is to further define appropriate cybersecurity controls. These controls should be continuously evaluated to ensure adherence
  3. After the termination of the relationship – Offboarding a supplier requires disabling its logical and physical access, removing access to any data, and destructing it to ensure the supplier doesn’t hold any sensitive data. This phase also requires ensuring no severity incidents are pending and facilitating proper handoff between suppliers

Prevalence of risk management processes in the supplier life cycle

How common is it for organizations to have established risk management processes in each of the third-party life cycle steps? Our polling results show while most organizations have these safeguards in the first stage, fewer use them in later phases, as illustrated below:

Picture1 2

Exhibit 2: Everest Group’s Webinar Quick Poll (Could Your Business Partners Be Offering More Risk than Support?)

The supply chain for almost any organizational procurement activity can be the target of cyberattacks, either by going after the supply chain or the supplier’s/organization’s systems, once they are integrated.

More complex and sophisticated attacks are often left undiagnosed or unreported, making them potentially more disastrous for enterprises. At different points in the supplier management life cycle, stakeholders across organizations will have the primary responsibility for establishing and maintaining effective supplier cyber security controls.

Vigorous governance is required to ensure relevant stakeholders are responsible at the right time to guarantee optimal and best efforts are made to combat any cyber threats. To complement this governance, a strong collaborative culture across different departments is needed to drive continuous improvement.

Learn how to create an effective program for your organization in our executive brief on Cybersecurity Risk Management in the Supplier Life Cycle, part of our supplier management toolkit.

Please reach out to [email protected] to gain further insights on supplier cyber risk management or Contact Us.

Discover even more about cybersecurity in our current environment in our webinar, Cybersecurity: What You Need to Know to Find the Right Partner and Price.

How can we engage?

Please let us know how we can help you on your journey.

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