Author Archives: Josh Stancil

Office Supplies Market Update

Office Supplies Market Update – March 2018

 
Following the failed merger of Staples and Office Depot in mid-2016, both office supplies chains are being forced to find ways to forge new paths in an increasingly competitive landscape with pressures from many sides, including the digitization of office environments and the proliferation of e-commerce sites like Amazon.

With office supplies spend decreasing across the breadth of their customer bases, retail stores declining in sales year-over-year, and the sell-off last year of both organizations’ international business units, each organization believed that major changes were necessary to remain competitive in an increasingly competitive landscape.  In late 2017, both companies have signaled their responses to these pressures and taken steps toward major market-shifting strategies that demonstrate how they may plan to face the future.

Office Depot / CompuCom Merger
In late 2017, Office Depot acquired technology services provider CompuCom for $1 billion. Traditionally, office supplies companies have viewed themselves as one-stop shops for office spaces.  However, this concept focused primarily in highly-commoditized areas, like paper/printer supplies/filing, etc.   As businesses have become increasingly diverse and broad, their operating needs have expanded outside of traditional office products, and price pressures in these areas have forced traditional office suppliers to look outside of standard products for growth. Office Depot believes that, in the long term, businesses and consumers alike will need technology support on a more frequent basis.

In this sense, Office Depot’s purchase of CompuCom serves as a way to both increase their product offering outside of traditional office products and serve the continually digitizing nature of businesses today. Furthermore, in creating a dependency by clients through their IT products/services, Office Depot could see less attrition of accounts on the product side (office supplies, facilities supplies, furniture, etc.) to competitors with an exclusive product focus.  This strategy for broadening its lines of business through the lens of technology exists in competition with Staples’ strategy of expanding its touch points with its customers through broadened product offerings alone. Only time will tell which strategy offers the best path forward but expect Office Depot and Staples to try to find more touchpoints to latch onto within their customers’ spend stacks.

Sycamore Partners Acquires Staples
Announced in mid-2017 and finalized in late 2017, Staples was acquired by the private equity firm Sycamore Partners for $6.9 billion. Sycamore Partners, a private equity firm that still believes in the power of the retail store, has holdings in Belk, Dollar Tree, Hot Topic, and Talbots among others. As its largest buyout to date, Sycamore Partners is betting big on Staples and its retail presence.

In a quickly changing office supplies market with only two large players, it is yet to be seen how Sycamore Partners plans to alter Staple’s sales strategy and product offering. Although this acquisition has generally been reported on in a positive light, Staples did have to take on over $4 billion in debt to finance this transaction. How Staples handles this new debt and the strategy shifts brought about by Sycamore’s leadership will prove to be important points to monitor in the coming months.

InsightGPO will continue to monitor how these changes affect business-to-business sales, group purchasing strategies, and the overall competitiveness of the office supplies industry. As new opportunities arise from these companies broadening their value propositions, InsightGPO will be evaluating how to incorporate these new offerings into the existing InsightGPO office supplies program and, ultimately, drive value for our clients.  Please reach out to us if you have any questions, and we will continue to keep you updated on this ever-changing market.

 

Insight Sourcing Group Named Top 5 Workplace for 2018 by AJC

Atlanta-based procurement consulting firm named one of Atlanta’s Top Workplaces for 2018 by the Atlanta Journal-Constitution

ATLANTA, Georgia — February 28, 2018 — Insight Sourcing Group, the leading consulting firm focused on strategic sourcing and procurement-related services, is proud to announce that it has been named one of the best places to work in Atlanta in the 2018 Top Workplaces awards conducted by the Atlanta Journal-Constitution. The firm—recently named the #1 Best Boutique Consulting Firm to Work For and the #1 Most Innovative Consulting Firm in the country by Vault.com—ranked at #3 on the list of companies with less than 150 people.  2018 marks the fourth consecutive year Insight Sourcing Group has ranked within the top 5.

“It’s a huge honor to once again be named a top workplace in Atlanta,” said Brent Eiland, President of Insight Sourcing Group. “This is a testament to our incredible team and the culture we’ve built together. Our culture not only reflects what we do, it defines who we are and what our values represent.”


Being named a top workplace once again is a testament to our incredible team and the culture we’ve built together.


More than 2,300 companies were nominated or requested to participate in the 2018 Top Workplaces contest, but only the top 150 of those enterprises could be included.  Employees across metro Atlanta responded to print and online solicitations that began appearing in September.  To determine the top places to work, Energage −a Philadelphia-based human resources consulting company − surveyed 256 metro area companies.  Throughout those companies, more than 55,000 employees participated, helping to whittle down the list of the top 150 workplaces, 25 large companies (500 or more employees), 50 midsize companies (150-499 employees) and 75 small companies (149 or fewer employees).

To view the complete list of Atlanta’s Top Workplaces for 2018, click here.


About Insight Sourcing Group

Insight Sourcing Group is considered one of the premier management consulting firms focused exclusively on Strategic Sourcing and procurement-related services in North America.

Founded in 2002, the firm works with senior executives and procurement leaders to accelerate Strategic Sourcing savings, increase Spend Visibility, provide category intelligence, and implement procurement best practices. Insight Sourcing Group has worked with hundreds of corporate clients and over 50 private equity firms. The firm has developed a reputation for the collegiality and high caliber of its team, its tremendous focus on client-results, and for its ability to consistently deliver strong outcomes.

Typical client results include 20% average savings per indirect spend category, 5-15% for direct spend categories, 400 – 600% first-year return on investment, and project payback periods of less than 90 days.

Two Insight Sourcing Group Leaders Recognized as 2018 Pros to Know

Supply & Demand Chain Executive announces its listing of the 2018 Pros to Know in the supply chain

ATLANTA, Georgia — February, 23, 2018 — Insight Sourcing Group is proud to announce that two members of its senior leadership team have been named to the 2018 Pros to Know list from Supply & Demand Chain Executive magazine: Doug Van Wingerden, who leads the firm’s Procurement Transformation practice, and Jake Wojcik, who leads business development as well as the firm’s Private Equity Procurement practice.  Both leaders were chosen for their resolve in helping clients achieve procurement and supply chain excellence.

Doug Van Wingerden has been listed on the 2018 Pros to Know

Doug Van Wingerden

Jake Wojcik has been listed on the 2018 Pros to Know

Jake Wojcik

“Insight Sourcing Group is one of the fastest growing consulting firms in the country and it is largely due to our outstanding team and unique culture,” said Tom Beaty, founder and CEO.  “Our management team is not only highly skilled, they are incredibly committed to helping our clients achieve outstanding results. It is exciting for me personally to see our team honored and recognized on an individual basis.”


Not only are they highly skilled, they are also incredibly commited to helping our clients achieve outstanding results.


The Pros to Know Awards recognize supply chain executives that are leading initiatives to help prepare their companies’ supply chains for the significant challenges of today’s business climate.  This year’s list includes more than 200 individuals from software firms and service providers, consultancies or academia, who helped their supply chain clients or the supply chain community at large prepare to meet these challenges—and more than 30 Practitioner Pros, who do the same within their own companies.

“Supply & Demand Chain Executive congratulates the 2018 Supply & Demand Chain Executive Pros to Know recipients.  The Pros to Know is a listing of exceptional corporate executives  who are leading initiatives to help prepare their companies’ supply chains for the significant challenges in the year ahead,” says John Yuva, editor of Supply & Demand Chain Executive. “ This year’s recipients embody the commitment to transformative supply chain tools and processes, earning these individuals a rightful place in this year’s Pros to Know listing.”

For the complete list of the 2018 Pros to Know, click here.


About Insight Sourcing Group

Insight Sourcing Group is considered one of the premier management consulting firms focused exclusively on Strategic Sourcing and procurement-related services in North America.

Founded in 2002, the firm works with senior executives and procurement leaders to accelerate Strategic Sourcing savings, increase Spend Visibility, provide category intelligence, and implement procurement best practices. Insight Sourcing Group has worked with hundreds of corporate clients and over 50 private equity firms. The firm has developed a reputation for the collegiality and high caliber of its team, its tremendous focus on client-results, and for its ability to consistently deliver strong outcomes.

Typical client results include 20% average savings per indirect spend category, 5-15% for direct spend categories, 400 – 600% first-year return on investment, and project payback periods of less than 90 days.

[BLOG] The Dangers of Insufficient Rigor & Discipline in Procurement

Four key procurement mistakes following a recent natural disaster that highlight risks for all organizations

by Morgan Doty, Manager at Insight Sourcing Group

Most executives whom Insight Sourcing Group works with would agree that savings is at or near the top of the list when it comes to reasons to invest in running rigorous and disciplined sourcing processes (both internally and supported by third parties).  While other factors such as service issues, updated requirements, and company growth are also frequent reasons that companies conduct sourcing events, many executives do not consider the alternative question, “What is the risk if we DO NOT run a formal sourcing process?

A recent controversy around the award of a $300MM contract to a two-person Montana company to rebuild much of Puerto Rico’s power grid following Hurricane Maria is a great example of what can go wrong in the absence of a formal and competitive process.  That contract has now been canceled after public outcry, but many issues with the deal are common when companies go outside the standard process.

Here are four sourcing mistakes that were made in the Puerto Rico power grid bid mentioned above that we see companies routinely make:

  1. Not fully vetting suppliers.  The Puerto Rico Electrical Power Authority (Prepa) said that based on the website of the awarded supplier, they were comfortable that the supplier had the experience necessary to do the work.  Missing from that website was the fact that the supplier had only two employees.  Whenever relying on a vendor’s sales materials, pitch, or website, companies allow the vendor to control the conversation and present the information that puts them in the best light.  A formal sourcing process should dictate a common set of information needed from all participants and be tailored to the needs of the company.
     
  2. Lack of socialization.  Once news broke of the $300MM contract award, many relevant parties like FEMA and Congress appeared to be caught off guard, and attacked the deal.  Ultimately the pressure from these and other important groups caused the deal to be called off.  During a sourcing process, it is also important to socialize the process with relevant stakeholders across the organization and ensure that the right people are informed about—and have a chance to participate in—the decision-making process.  This will help give credibility to the resulting decision and create buy-in from the decision-makers to do everything possible to make the chosen vendor(s) successful.
     
  3. Not understanding pricing competitiveness.  Some reports suggest that FEMA was unable to confirm whether or not the prices listed in the agreement were reasonable.  Relying on a supplier to define what is appropriate when it comes to pricing will almost always lead to higher-than-necessary prices.  Competitive pricing from other suppliers based on the same scope and requirements is critical to understanding whether a fair proposal is being offered.  Even if you do manage to achieve appropriate pricing without competitive pressure, how will you be able to defend that pricing when challenged if you do not have competitive market information?
     
  4. Overreliance on relationships.  Many questions about the Puerto Rico deal revolve around the relationship that one of the owners of the selected vendor has with the Interior Secretary, whose son also worked a summer job at one of that vendor’s construction sites.  Although to date no influence has been proven, the lack of a formal process makes it more difficult to dispute those allegations.  Making vendor selections based on relationships at any level can open both organizations and individuals up to questions and potential negative repercussions if someone feels that a fair process was not conducted and/or alternatives were not explored.  Understandably, relationships between vendors and customers are developed that are not negative. However, vendors should be required to demonstrate that they are operating in their customers’ best interests and that they are the right choice for the products or services that they are providing.  Failure to conduct this level of due diligence opens the door to individuals prioritizing relationships over their employers’ best interests (and potential outside criticism) even if the partnership is, otherwise, above board.
     

Even though no wrongdoing has been proven, the lack of transparency and lack of evidence of a formalized sourcing process ultimately led to criticism that caused the Puerto Rican agreement to be canceled.  While it is unknown whether the initial contract was best for the Puerto Rico Electrical Power Authority, those managing the process were unable to defend it against critics, which ultimately doomed the resulting vendor relationship.

We see similar issues with countless client organizations.  When rigor and discipline are absent, companies tend to put in place bad agreements that hurt them.  Even in situations where resulting agreements may not be an issue, stakeholders are unable to defend their work against any critics as there is little evidence that they can point to in order to justify their resulting outcomes.  In extreme cases, the problems mentioned here and exhibited in the Puerto Rican example help create an environment that can lead to corruption and monumental negative financial and legal implications for organizations.

Is your organization minimizing its risk by making vendor decisions in line with best practices?

If you are unsure, reach out to us.  We’d be happy to chat.

Upcoming Webinar with Ardent Partners

Upcoming webinar lays out guidelines for optimal solution selection of spend analysis tools

 

A recent study by Ardent Partners found that 39% of companies fail to link the output of their spend analysis efforts to their strategic sourcing processes, which leaves significant savings on the table.

Join us on Tuesday, November 14th at 2pm EST when Insight Sourcing Group’s spend visibility business unit, SpendHQ, cohosts the webinar, “How to Navigate Your Spend Analysis Journey: Guideposts for Optimal Solution Selection,” where you’ll learn:

  • Strategies and processes that Best-in-Class procurement teams employ to complete a successful spend analysis journey
  • Benchmarks and insights to make smart decisions for your organization
  • Recommendations on how to evaluate spend analysis platforms on the market
  • Free spend analysis research brief by Ardent Partners
  • Access to Q&A with webinar speakers

How to Navigate Your Spend Analysis Journey:
Guideposts for Optimal Solution Selection

Tuesday, November 14, 2017 | 2:00 PM EST


SPEAKERS:

David Bush, Chief Revenue Officer, SpendHQ

David has over 17 years of technology experience in the sourcing and procurement SaaS industry. He is consistently recognized as a leader in procurement technology and high growth SaaS companies. Prior to SpendHQ, David served as the Chief Revenue Officer for Determine (formally Iasta), an enterprise Source-to-Pay suite solution where he successfully led the growth transformation and turn around.

Andrew Bartolini, Chief Research Officer, Ardent Partners

Andrew is a globally recognized expert in sourcing, procurement, accounts payable, and supply management. At Ardent Partners, Andrew focuses his research and efforts on helping enterprises develop and execute strategies to achieve operational excellence within their procurement and finance departments. Andrew is also the publisher of CPO Rising, the first independent media site written for and about Chief Procurement Officers and other procurement executives.

Insight Sourcing Group Named a Top 2017 Firm by Consulting Magazine

Consulting Magazine Ranks Insight Sourcing Group the #7 Firm on its Best Small Firms to Work For List

 

ATLANTA, Georgia — September 19, 2017 — Insight Sourcing Group is pleased to announce that it has once again been ranked as one of the Best Small Firms to Work For by Consulting Magazine.  The boutique Atlanta-based firm came in at #7 on the overall 2017 Best Small Firms list, and was ranked in the top 10 for the following sub-categories:

  • Work / Life Balance
  • Compensation & Benefits
  • Client Engagement
  • Firm Leadership

“This award provides tremendous validation of our focus on and investments in our culture and is a great opportunity to celebrate with our team,” says Tom Beaty, CEO and founder of Insight Sourcing Group.  “We’ve created a place where incredibly bright and highly motivated people are able to work together to be the absolute best in our niche.  It is a unique environment where highly competitive people have chosen to check their egos at the door and be highly collaborative in the pursuit of excellence.”

best consulting firms to work for

Each year, Consulting Magazine endeavors to identify “The Best” in a variety of areas important to the profession and its practitioners. Through extensive surveys and interviews with consultants, the publication’s editors obtain a unique view of the latest and greatest trends shaping consulting. 2017 marks the tenth year that Consulting has ranked the Best Small Firms to Work For. Rankings were determined on the basis of an exclusive online survey. More than 12,000 consultants representing more than 400 firms participated in this year’s survey.

To read the full article above from the September 2017 issue of Consulting, click here.


About Insight Sourcing Group

Insight Sourcing Group is considered one of the premier management consulting firms focused exclusively on Strategic Sourcing and procurement-related services in North America.

Founded in 2002, the firm works with senior executives and procurement leaders to accelerate Strategic Sourcing savings, increase Spend Visibility, provide category intelligence, and implement procurement best practices. Insight Sourcing Group has worked with hundreds of corporate clients and over 50 private equity firms. The firm has developed a reputation for the collegiality and high caliber of its team, its tremendous focus on client-results, and for its ability to consistently deliver strong outcomes.

Typical client results include 20% average savings per indirect spend category, 5-15% for direct spend categories, 400 – 600% first-year return on investment, and project payback periods of less than 90 days.

Insight Sourcing Group Named #1 Best Place to Work in Atlanta

Atlanta Business Chronicle Names Boutique Consulting Firm the #1 Best Place to Work in 2017

 

ATLANTA, Georgia – September 7, 2017 – For its tenth consecutive year of making the Atlanta Business Chronicle‘s list of Best Places to Work, Insight Sourcing Group is pleased to announce that it has been named the #1 Best Place to Work in Atlanta among medium-sized companies (companies with 50 to 99 employees).

“It is a tremendous honor to be named the #1 Best Place to Work in Atlanta for our size category. We believe that attracting and retaining great people is the key to delivering great results for clients and is at the heart of our differentiation. This award offers great validation,” said Tom Beaty, founder and CEO.

“When I founded Insight Sourcing Group in 2002 out of my basement, I wanted to build a unique firm that focused first and foremost on client results,” Beaty continued.  “I also wanted to create a truly extraordinary place to work for our team and to be the premiere firm in the country in our niche, procurement consulting. Given my only employee at the time was my dog, this was somewhat audacious and it is only because of the incredibly talented people who joined me in this quest that we have been able to make it happen. It is humbling and immensely fulfilling to lead such a great team. I am thankful for the opportunity.”

insight sourcing group named #1 best place to work in atlanta

Each year, the Atlanta Business Chronicle teams up with Quantum Workplaces and asks readers to nominate workplaces they feel are superior employers.  Quantum surveys employees at participating companies during the summer and then ranks the top 100 employers in four categories: the top 10 among extra-large employers (500 employees and up), the top 20 among large employers (100 to 499 employees), the top 20 among medium employers (50 to 99 employees), and the top 50 among small employers (10 to 49 employees).

To see the full list of Best Places to Work, click here.


About Insight Sourcing Group

Insight Sourcing Group is considered one of the premier management consulting firms focused exclusively on Strategic Sourcing and procurement-related services in North America.

Founded in 2002, the firm works with senior executives and procurement leaders to accelerate Strategic Sourcing savings, increase Spend Visibility, provide category intelligence, and implement procurement best practices. Insight Sourcing Group has worked with hundreds of corporate clients and over 50 private equity firms. The firm has developed a reputation for the collegiality and high caliber of its team, its tremendous focus on client-results, and for its ability to consistently deliver strong outcomes.

Typical client results include 20% average savings per indirect spend category, 5-15% for direct spend categories, 400 – 600% first-year return on investment, and project payback periods of less than 90 days.

Vault Ranks Insight Sourcing Group #1 Boutique Consulting Firm

Atlanta Consulting Firm Ranks #1 for Innovation, Firm Leadership, Business Outlook, & Overall Satisfaction

 

ATLANTA, Georgia – August 22, 2017 – For the third time in four years, Insight Sourcing Group has been named the #1 Boutique Consulting Firm to Work For in the Vault Consulting Top 50 for 2018—an annual ranking of the best consulting firms to work for.  Insight Sourcing Group previously held the #1 Boutique ranking in 2015 (the year the ranking was created) and in 2016.

The firm made across the board improvements, moving up four spots to #13 on the Overall Top 50 list;  regaining the #1 Boutique ranking; and rising in every single sub-category.  Of all consulting firms of any size, Vault ranked Insight Sourcing Group as #1 in the following categories:

  • Innovation
  • Firm Leadership
  • Overall Business Outlook
  • Relationship with Supervisors
  • Overall Satisfaction

The firm also ranks top 3 for Vacation Policy, Work / Life Balance, Firm Culture, Hours in the Office, Promotion Policy, and Travel Requirements.

“Insight Sourcing Group has been on our radar for a number of years—not least because it occupies a niche in the industry that is both growing and yet somehow underserved by the largest firms in the industry,” says Vault’s editorial team on the website. “In the course of watching the firm, it has gone from strength to strength in terms of its business performance and—more pertinent to our concerns—as an employer. It was no surprise at all, then, when the firm emerged at the top of our boutique ranking again this year: it’s been trending that way for some time, proving that the accolade is no fluke.”

“Being ranked as the #1 Boutique Consulting Firm provides tremendous validation of our focus on and investments in our culture,” said Tom Beaty, founder and CEO.  “The award is great for recruiting and provides visibility for our firm to people who might not know about us otherwise.  Our clients like working with enthusiastic consultants who are liberated from internal politics to focus exclusively on their needs.”

For the full listing of Vault’s 2018 Consulting Top 50, click here.

 


About Insight Sourcing Group

Insight Sourcing Group is considered one of the premier management consulting firms focused exclusively on Strategic Sourcing and procurement-related services in North America.

Founded in 2002, the firm works with senior executives and procurement leaders to accelerate Strategic Sourcing savings, increase Spend Visibility, provide category intelligence, and implement procurement best practices. Insight Sourcing Group has worked with hundreds of corporate clients and over 50 private equity firms. The firm has developed a reputation for the collegiality and high caliber of its team, its tremendous focus on client-results, and for its ability to consistently deliver strong outcomes.

Typical client results include 20% average savings per indirect spend category, 5-15% for direct spend categories, 400 – 600% first-year return on investment, and project payback periods of less than 90 days.

Insight Sourcing Group Joins the Elite Inc. 5000 “10x Club”

Atlanta-based Boutique Consulting Firm Makes the Inc. 5000 List for 10th Consecutive Year

 

ATLANTA, Georgia – August 16, 2017 – For the tenth consecutive year, Insight Sourcing Group has been ranked on the Inc. 5000, the prestigious annual ranking of the nation’s fastest-growing private companies. The Inc. 5000 list represents a unique look at the most successful companies within the American economy’s most dynamic segment: its independent small businesses. 2017 marks a milestone for Insight Sourcing Group who now joins the “10x Club,” a honor that fewer than half of one percent of Inc. 5000 honorees ever achieve.

“As the company founder, making the elite ‘10x Club’ is truly an honor and point of pride for me personally,” said Tom Beaty, founder and CEO of Insight Sourcing Group. “We have a belief called ‘Intelligent Growth’ whereby we strive for growth but only to the extent that we can maintain our outstanding client results, our culture, and our financial performance. Being ranked on the Inc. 5000 for the tenth straight year is affirmation that we’re achieving all three goals.”

Insight Sourcing Group jumped 220 spots on this year’s list, having posted a three-year sales growth of 83% and adding over 50 jobs during the same period. The firms organic growth can be attributed to a series of bold strategic decisions. In 2012, the firm spun its proprietary spend visibility solution—at the time used internally for client spend analysis—into a standalone, SaaS-based business unit called SpendHQ (now used by over 150 companies including one of the 10 largest companies in the world as well as one of the top 10 private equity firms in the world). In 2014, the firm established its Enterprise Energy Solutions division, which helps clients reduce both their energy costs and demand. And in 2017, it rebranded its group purchasing division as InsightGPO, which now has over 500 members across multiple indirect category programs.

“The Inc. 5000 list stands out where it really counts,” says Editor-in-Chief and Inc. President Eric Schurenberg. “It honors real achievement by a founder or a team of them. No one makes the Inc. 5000 without building something great — usually from scratch. That’s one of the hardest things to do in business, as every company founder knows.”

For the full 2017 Inc. 5000 List of Fastest-Growing Private Companies, click here.


About Insight Sourcing Group

Insight Sourcing Group is considered one of the premier management consulting firms focused exclusively on Strategic Sourcing and procurement-related services in North America.

Founded in 2002, the firm works with senior executives and procurement leaders to accelerate Strategic Sourcing savings, increase Spend Visibility, provide category intelligence, and implement procurement best practices. Insight Sourcing Group has worked with hundreds of corporate clients and over 50 private equity firms. The firm has developed a reputation for the collegiality and high caliber of its team, its tremendous focus on client-results, and for its ability to consistently deliver strong outcomes.

Typical client results include 20% average savings per indirect spend category, 5-15% for direct spend categories, 400 – 600% first-year return on investment, and project payback periods of less than 90 days.

[BLOG] The Future of MRO Category Management

The Future of MRO Category Management

by Zach Kayne, Insight Sourcing Group’s Maintenance, Repair, & Operations subject matter expert

In terms of a procurement category, Maintenance, Repair, and Operations (MRO) is notoriously difficult to effectively manage and accurately track spend, as well as any related savings initiatives.  Many organizations are comprised of multiple operating units or locations that purchase a large volume of SKUs in a decentralized manner, based on specific needs.

For a company that decides to explore our cost-saving group purchasing program, Insight Sourcing Group performs a thorough analysis of current spend, creates a unique core item list, and works with our clients to implement across all addressable MRO products with robust project management.  But what next?  What comes after implementation?  How can companies best capitalize on the savings identified, particularly given the fragmentation across regional or national facilities?

Since the inception of our MRO program, we have been committed to providing best in class monthly and quarterly reporting based on client-specific needs.  We receive key usage data from the program partner, audits for pricing accuracies, formats to client specifications, and provides insights on purchasing habits.   Our firm has continued to innovate in this space, however, and is looking towards the future of enhanced category management: user-led MRO spend and compliance tracking.

Leveraging our proprietary SpendHQ Category Management module, we are taking steps to simplify this complex process and provide our clients with an integrated experience built on our human and technological capital.  Insight Sourcing Group is pleased to announce that the module is now in public “beta.”

Here are a few features within the tool and how they can help your company reduce costs and secure targeted savings.

MRO Category Overview
A quick snapshot of a client’s spend, this view allows users to quickly and accurately understand numerous details about how their MRO spend is segmented: location, pricing tier, item category, core compliance, pricing accuracy, and a number of other spend breakouts can be viewed here. This overview allows even non-MRO buyers or purchasing managers the ability to understand at a high-level how spend is being allocated.

Details
One of the top ways clients can see further savings off of baseline pricing is to drive their spend towards core items – a metric that ISG tracks and provides. ISG’s clients not only use this insight to manage their month-to-month purchasing habits, but also to take control of annual core list management to drive deeper savings to more highly used items.

Pricing Accuracy
Most clients have difficulty determining if the items they’re purchasing are aligned with the contracted pricing that has been negotiated and open themselves up for potential lost savings.
ISG’s Pricing Accuracy module takes the “expected price” based off the contract pricing and aligns it with the actual price paid as reported by the supplier and denotes any differences. This tool allows for easy and quick auditing to ensure that our clients are receiving the pricing they expect on every item.

<strong>Interested in a demo of MRO Category Management?</strong>

Interested in a demo of MRO Category Management?

Click here and we'll be happy to schedule a demo.

ISG CEO Participates in Army War College National Security Seminar

Tom Beaty invited to join the special academic seminar and exchange thoughts about national security topics

 
Friday, June 9, 2017CARLISLE BARRACKS, Pennsylvania.—Tom Beaty, founder and CEO of Insight Sourcing Group and the oral history preservation non-profit Witness to War, participated in the U.S. Army War College 63rd annual National Security Seminar in Carlisle, PA., June 5-8, 2017.

Tom Beaty participates in National Security Seminar
 
Beaty (pictured above 1st row, 2nd from left) was one of 160 business, government, academic and community leaders selected from across the country to take part in the week-long academic seminar alongside the students of the Army War College. During the special academic event, Beaty represented fellow American citizens in discussions with the next generation of senior leaders of the U.S. Armed Forces, enabling for the senior military leaders a deeper understanding of perspectives across the American society they serve. The National Security Seminar was the capstone event of the Army War College’s 10-month curriculum, just before the Class of 2017 graduated with students earning a Master’s degree in Strategic Studies.

The NSS forum was structured around a daily presentation about an issue of significance to the nation’s security, followed by extended and candid discussion of the topic within one of 24 seminars. Mr. Beaty became a member of USAWC Seminar 1, comprising Army, Navy, Marine Corps and Air Force officers at the rank of colonel or lieutenant colonel, a senior federal civilian, and three international officers, representing the United Kingdom, Albania, and Saudi Arabia. He was invited to share perspectives, background and experiences in the capstone event in the Strategic Studies graduate program.

The U.S. Army War College educates and develops leaders for service at the strategic level while advancing knowledge in the global application of land power.

Established in 1901 in Washington D.C., the Army War College relocated in 1951 to historic Carlisle Barracks, Pa. and today, it educates 2,500 senior leaders and strategists annually through a variety of strategic education and general officer education programs.

Learn more about the National Security Seminar and the U.S. Army War College.


About Insight Sourcing Group
Insight Sourcing Group is the largest boutique consulting firm in North America focused exclusively on Strategic Sourcing and procurement-related services. Founded in 2002, the firm works with senior executives and procurement leaders to accelerate Strategic Sourcing savings, increase Spend Visibility, provide category intelligence, and implement procurement best practices. Insight Sourcing Group has worked with hundreds of corporate clients of all sizes and over 50 Private Equity firms.

Inc. magazine has ranked Insight Sourcing Group among the fastest-growing private companies in America every year since 2008, making it one of the few firms to be listed 9 years in a row as of 2016. Insight Sourcing Group was also recently named the #1 Boutique Consulting Firm To Work For in the US in 2016 by Vault.

About Witness to War
The Witness to War Foundation is a non-profit 501(c)(3) and was founded in 2001 by Insight Sourcing Group founder and Atlanta-based entrepreneur Tom Beaty. The Foundation is dedicated to preserving the stories of individual combat veterans.

It is about the “foxhole” or “windshield” view of combat as seen by the soldiers, sailors, and airmen who experienced it. It is about the fear, the emotions, the training, and the previously untapped wells of personal courage that enabled ordinary individuals to survive, and in some cases thrive, under extraordinary pressures and almost unimaginable danger. The Witness to War Foundation is dedicated to understanding, as much as possible, what it was like to “be there.”

To hear some of these incredible stories or for information on veteran interviews, visit www.witnesstowar.org.

Insight Sourcing Group Named “Provider to Know in Procurement” for 4th Straight Year

Spend Matters, a leading procurement analyst firm, ranked Insight Sourcing Group on its list of “50 Providers to Know in Procurement”

 
Atlanta, GeorgiaMay 25, 2017 —  Insight Sourcing Group announces that it has been listed on Spend Matters 2017 list of “50 Providers to Know in Procurement,” an annual list that identifies companies that continue to lead the charge on new procurement technologies and services that are driving innovation and changing the way enterprises do business.

Insight Sourcing Group named a Top 50 provider to know by Spend Matters
 
“It’s difficult — and getting even more so — to make Spend Matters’ 50/50 lists, and we’re thrilled Insight Sourcing Group made it onto the 2017 Spend Matters 50 to Know list,” said Jason Busch, founder and head of strategy at Spend Matters. “This list is the product of intense, debate, discussion and refinement each year by our analysts. This year saw new coverage areas and increased competition among providers in existing segments. Insight Sourcing Group earned a deserved spot as one of the procurement providers worth knowing in 2017.”

This year marks the fourth consecutive time Spend Matters has ranked Insight Sourcing Group on the 50 to Know list.

“We are excited to be listed among Spend Matters 50 to Know list for both our strategic sourcing consulting firm, Insight Sourcing Group, and our award-winning spend analysis expert-driven SaaS-solution, SpendHQ. To be recognized for the fourth year in a row by a leading procurement analyst firm such as Spend Matters is a testament to the hard work and dedication we have for leading the charge of innovation in our field,” said Tom Beaty, CEO, and founder of Insight Sourcing Group and SpendHQ. “We have seen extraordinary growth over the past three years, and we look forward to continuing to offer our unique solutions that deliver tremendous value for our clients and around the world.”

For the full 2017 rankings, click here.