Sourcing advisory companies like Elix-IRR, the uk strategic sourcing advisory are likely to do very well from the current economic slump as government contracts shift to the private sector and cost-cutting exercises happen in most large companies trying to keep afloat while their customers freeze or remove the budgets they expected to use for work this year.
During the last 18 months as predictions about economic crisis have turned into reality it’s been harder and harder for businesses to make their financial numbers add up. Everything from corporate restructuring to outsourcing large swathes of internal processes are giving executives a lot to think about.
For the people ending up with the project of finding new sourcing strategies the job can be a lot bigger and more urgent than they would expect or hope for. The decisions need to be more creative, more impactful and include considerations for many types of business strategy rather than be in the forum of traditional cost based resource reallocation.
For some executives this is too much to handle alone and it’s necessary to bring in experience corporate sourcing experts who understand how to create an impressive strategy that can actually be put into practice and seen through to delivery and beyond.
Many executives are also facing the prospect of having to soon renew existing relationships but with the understanding that they’ll need to be modified to incorporate their new sourcing strategy and may have legal implications which need to be carefully considered before they can be finalised.
Locking themselves in to an unsuitable contract with a supplier than understands the leverage they have over a desperate client who is busy restructuring can break an otherwise successful newly developed sourcing strategy.
Elix-iRR’s customers include corporate giants like Lloyds TSB, O2, Royal Mail and American express which means they are very likely to be leading the industry pull for creative and powerful new sourcing initiatives for near-shoring, off-shoring, buy side, sell side, legal and advisory consulting projects in 2010.