SFS closes the skills gap for our strategic MSP partners by providing experienced procurement professionals to deliver best practice sourcing, contract negotiation and category management expertise
GREENVILLE, SC, (PRWEB) February 22, 2016
Sourcing For Services, LLC announces the launch of its Spend Management Platform™ approach to managing third party services spend for mid- to large-size companies. The Greenville, South Carolina based managed services and sourcing advisory firm supports both the contingent labor and the services/indirect procurement industries.
Sourcing For Services (SFS) has successfully deployed the Spend Management Platform, a proprietary solution that helps clients control and manage the acquisition and governance of third party professional services. Marketed primarily through strategic partnerships with managed staffing providers (MSP), this technology-driven service is also offered directly to clients along with SFS consulting services.
Demand for a product like the Spend Management Platform emerged from the contingent labor industry that, until recent years, had been solely focused on managing temporary labor.
“Our industry is undergoing a program-driven expansion up the services procurement hierarchy into more complex, less standardizable professional services” says Michael Matherly, CEO and Founder of SFS. “The desire to manage these new types of external services spend through the existing contingent labor program revealed a skills gap in the traditional staffing MSP model.
“SFS closes that skills gap for our strategic MSP partners by providing experienced procurement professionals to deliver best practice sourcing, contract negotiation and category management expertise,” he says.
Matherly, who heads sales and strategic partnerships for the company, says that with SFS support, their strategic MSP partners can differentiate themselves from competitors by offering governance and management across the entire source-to-pay lifecycle, not only for temporary staffing but now for statement of work based professional services as well.
“The technology component to the Spend Management Platform solution enables our team to scale sourcing best practices and efficiently source high volumes of client requirements,” says Ken Hernandez, SFS Chief Operating Officer. “At the same time, it is capturing valuable pre-award performance data that influences both current and future vendor negotiations, as well as category strategies.
“Our technology can be integrated into client environments, but is mostly used as a back-end system to create and maintain a common data architecture and workflow across multiple accounts and multiple partners,” he says. Hernandez heads the SFS implementation and service delivery.
“We have to be flexible enough to work with any vendor management system (VMS) or e-sourcing tool that our clients may use to support statement of work (SOW) in their programs. That inconsistency of data and workflow on the front end of multiple accounts is what drove the need to develop the Spend Management Platform system on the SFS back end.
“Its primary function is to support high value analytics and reporting,” he says.
SFS markets its Spend Management Platform primarily as a private label offering through its strategic MSP partners. As such, it is branded in the marketplace as part of the MSP partners’ bundled solution to clients and prospects. SFS, through its partnerships, is leveraging its Spend Management Platform to support Fortune 500 companies.
“Our MSP partners have begun actively converting their account base over to their new SOW management capabilities fueled by SFS,” Matherly says. “By doing so, they are raising the industry bar on SOW management expectations.”
To learn more about SFS products and services, visit the Sourcing for Services website, email michael(at)sourcingforservices(dot)com, or call +1 (864) 321-0729.
About Sourcing For Services, LLC:
Sourcing For Services, LLC (SFS) is a strategic sourcing advisory firm and an outsource provider of procurement services established in 2014. SFS developed the Spend Management Platform™ approach to statement of work or SOW-based spend management for mid to large size companies seeking to establish, scale or mature their procurement program capabilities. The Spend Management Platform™ product, along with SFS’s unique brand of procurement consultancy, is also marketed directly to clients. SFS is currently serving multiple Fortune 500 companies, directly and through its strategic MSP partnerships.