Does Your Business Need ‘Sensible’ Sourcing Solutions?

Does Your Business Need ‘Sensible’ Sourcing Solutions?

So you need to engage an independent expert quickly. But you’re now faced with complex and time consuming sourcing documents, AND you need approval from people outside of your department who often don’t understand your needs. THEN, you have to wait for weeks while complying with a myriad of processes, to achieve an outcome you really needed in days. Sound familiar? 

Congratulations! 

You’re one of the many feeling the effects of overreach and control of complex procurement sourcing practices taking over medium and large businesses these days. Supposedly all in the name of better governance and risk management. 

More than ever before, today’s changing world of work requires fast and efficient access to talent, forcing changes to traditional sourcing approaches. These days, medium to large businesses don’t want to carry all the expertise they might ever need in their businesses, opting to bring in contractors and suppliers as and when they need them. And while there’s now more choice of independent experts and specialists ready to go, how do you find and engage them in a timely and efficient way? AND employ good sourcing and probity practices in the process?

We’ve been told by many businesses that procurement practices are evolving, but sadly not quickly enough. You might have experienced some of these common frustrations:

  • Suppliers with the right expertise and experience are often excluded because they don’t meet the one-size-fits-all criteria set.
  • Decisions are often based on awarding engagements to suppliers who the business has worked with previously because they “know how we operate”.
  • Many small businesses are often excluded or unsuccessful because they simply can’t compete with larger suppliers on inflexible pricing and terms set by procurement functions.
  • Suppliers pitching for low value engagements (between $5K and $50K) often have to complete excessively large tender documents which can take hours.  Many just don’t bother.
  • And often, to bid, a business has to join tendering, procurement or vendor management platforms and pay fees just for the privilege of competing, with no guarantee of success.

So, what about the business that just needs a bit of consulting for around $20K?  It’s just taken 6 – 8 weeks to work through the process. And the work hasn’t even started!

Surely, we need a sensible solution here. 

Of course, traditional procurement practices and sourcing can and do play an important role in large, complex service spend by organisations. IT, management consulting, property and building management services and the like. But it’s time for some more streamlined, flexible solutions. 

Simplifying sourcing solutions can save businesses time and money, while offering other significant benefits.  

Lower spends of $5k – $50K on services by medium and large businesses are on the rise. And there’s a way to help medium and large businesses find and engage the expertise they need more efficiently, and govern the spend better. 

If you’re a progressive business looking to: 

  • Challenge traditional sourcing and procurement approaches but still maintain good governance and oversight over your discretionary spend. 
  • Increase the level of governance or visibility your business has over its sourcing practices.
  • Find new ways to actually broaden your choice and access to the capability and expertise you need quickly.
  • Save significant procurement and sourcing costs…

Then check out www.CircleSource.com.au.

Our founders have worked in corporate businesses, as well as on the other side, as suppliers looking to work with businesses. We understand intimately how it works and the value organisations place on accessing the right capabilities and services when you need them. And working collaboratively with procurement functions when you really need to 😉.

That’s why we’ve created a simple digital solution where buyers and suppliers of lower value ($5K – $50K ) engagements can connect and do business together.  All with the flexibility to meet, and maybe just exceed business sourcing and probity protocols.

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