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Spend Analysis & Sourcing Services

Having the right talent and technologies combined with relevant market intelligence helps reduce purchase costs and improve operational efficiency. However, small & medium businesses may not have sufficient resources or time to focus on these key aspects. Our team of data & analytics experts working along with our network of category experts could come up with the right sourcing strategy and assist you with ongoing procurement activities. Our bespoke spend analysis services identify purchase patterns, gaps and provide savings insights processing your historic purchase, invoice and contract data. We engage sourcing experts, category managers from our expert network and make them accessible and affordable to small and medium companies while augmenting efforts for large companies. This empowers procurement managers and strategic sourcing managers to be more effective. Brings transparency when dealing with global suppliers.

Strategic Sourcing as a Service

Our services tailored to meet your unique challenges at most affordable cost

Spend Analysis & Sourcing Strategy

Our Spend Analysis objective is to identify savings opportunities you are not aware and recommend sourcing strategy improvements based on consolidated demand, giving importance to total cost and risk factors as well as market intelligence, where relevant 

SourceRFX Global Sourcing & Procurement Platform

Supplier Identification & Verification

Our team could assist in identifying suitable suppliers who are strategic fit to work with you longterm, based on your criteria. Also help in verifying company background and conducting onsite audits (India Only) based on thorough vendor verification process and checklists

Low Cost Country Sourcing (LCCS) Assistance

Global sourcing aims to exploit global efficiencies in the delivery of products and services. SourceRFX could assist you at various stages of Strategic Sourcing Lifecycle as part of your Low Cost Country Sourcing efforts with servies tailored to your requirements (presently covering India). Our team is intimately familiar with the buying strategies that need to be adopted to handle the social and cultural dictates to make your team feel comfortable dealing with suppliers in India. We understand that cost reduction is not the only factor for you. So, we focus on capable suppliers who could collaborate with you to meet your long term business goals complying to the quality, cost and value expectations.

RFQ/RFP Process Facilitation

We could assist to create quotation/ proposal requests (RFQ/RFP), invite prequalified suppliers and followup to obtain competitive online bids conduct reverse auction as needed 

Contract Negotiation Assistance

Our seasoned category experts can assist in the negotiation process to ensure pricing, terms & conditions align with the sourcing strategy for better compliance and to reduce risk

Virtual Purchase Office

Your team could remotely work with our qualified resources assigned in India to liaison with local suppliers and authorities handling cultural challenges for you, as needed

SourceRFX Global Sourcing & Procurement Platform

Category Management Services

For most Small & Medium companies, having category experts in-house for all product/service categories is not cost effective. However, engaging category managers for all the major spend categories would help an organization to identify and implement value opportunities in the respective procurement categories.

SourceRFX could engage seasoned category managers as consultants, who come with good understanding of spend, demand, providers and markets to analyze how goods and services are acquired and delivered. They would work closely with your sourcing and procurement teams with a comprehensive view in a transparent way. Instead of hiring all the experts, it makes a lot of sense to engage prequalified consultants on a fixed term assignment basis. Assigned expert would focus on minimizing total cost without compromising on quality or increasing supply risks aligning to your goals and objectives.

Focus areas: Market intelligence on suppliers and commodities, category best practices, industry methodologies, category wise planning, contract reviews & renewals, supplier performance tracking and compliance, bring spend under management, track savings (identified vs achieved)

Global sourcing benefits & risks

Sourcing from international suppliers can provide cost advantage but that comes with certain risks and challenges. Most companies cannot afford to have local presence across various sourcing countries. Without local presence or relying on agencies it will be like gambling trying to directly deal with a remote supplier. What the supplier claims on their website about their infrastracture, capability and clients listed etc may not all be true. It is important to verify company credentials and abilities before engaging with them. Long travel distances and travel costs make it not practical for buyer teams to directly visit supplier locations in foreign countries, as and when needed. Even communicating remotely would have time zone issues besides language and cultural barriers. Buyers would need reliable partner to work for them to coorindate and monitor various aspects related to sourcing products from global suppliers.

SourceRFX sourcing platform and services engage qualified sourcing agents, category managers and supplier quality auditors from its network of consultants to facilitate the end to end process.

NOTE: We specialize in sourcing from India for buyers in North America
Following shows the SourceRFX advantages vs using a sourcing agency

Common Issues Engaging Sourcing Agencies

Sourcing Agencies & Freelancers

X Mostly executed offline (Email, phone)
X Hidden commissions likely between agent & supplier 
X Sourcing agent may be an independent freelancer or a small firm with less than 5 employees 
X No internal systems or data and completely rely on web research 
X May not have the competencies and processes 
X May not have US presence 
X May need to rely on multiple agencies to scale 
X Freelancers may be unreliable 

Using SourceRFX as Sourcing Platform

# Complete transparency of the end to end process, tracked online through SourceRFX platform. Ex:
>> Suppliers submit quotes & order updates online 
>> Buyer can collaborate with suppliers 
>>100 + inhouse & prequalified network of experts  
# Sourcing & procurement specialists 
# Category managers 
# Supplier quality auditors
# Design & production engineers
# Global trade & financial experts
…with experience working for reputed global companies

Uses combination of internal systems, data and public sources aligning to best practices

Located in the US with offshore team in Hyderabad, India. All fluent in English

Agreements signed by US company that cares for your brand & IP

What is Spend Analysis?

Goal is to identify ways to improve cost savings and efficiency while reducing risk
through a 4 to 8 week process based on your historic spend data.
We sign NDA to ensure your information is not compromised

Data Collection

Gather PO, invoice and other non-pay expense data, along with supplier and contract data as per the scope Identify gaps in data and ways to remediate and recommend ways to improve for future

Data Quality

Cleanse data entry errors, incomplete data, merge duplicates and consolidate data received from different systems using various tools and techniques 

Categorize & Segment

Categorize items as per industry standard classifications like UNSPC. Segment data by category, supplier, spend, volume, price history, contract status, compliance etc

Stakeholder Interviews

Stakeholder interviews are crucial to the success of the analysis, to come up with a workable strategy and to ensure compliance. Compile questionnaire and gather responses from key stakeholders based on their role

Analysis & Insights

Analysis by category, supplier and contract using right tools & techniques to comeup with insights to identify savings opportunities with recommendations on cost reduction initiatives, process improvements, maverick spend management and estimate savings 

Validate & Implement

Validate findings, recommendations and cost reduction implementation plan with the key stakeholders. Ensure proper governance and ways to track & measure 

US Address

2352 Haggerty Dr
Dublin, CA
USA, 94568
(+1) 510-648-6623 

India Address

Plot# 203, Kavuri Hills
Madhapur, Hyderabad
India, 500081
(+91) 96181 36969