Many businesses experience a lull during holiday season, but for NelsonHall, summer 2016 has been non-stop, with the release of seven NelsonHall Vendor Evaluation & Assessment Tool (NEAT) projects in June, July, and August. NEATs are an essential strategic tool used by sourcing managers in assessing vendor capability, and help cut the time and cost of sourcing projects by 50%.
Three HRO NEATs were published (RPO, Multi-Process HRO, and Cloud-Based HR Services), along with NEATs for Life, Annuities & Pensions BPS, Retail Banking BPS, CMS in Retail & CPG, and Software Testing. In total, 120 vendor evaluations were made for these projects, based on in-depth interviews with the vendors and a selection of their clients. This resulted in a total of 26 NEAT evaluation graphs showing vendor capability overall and within specific areas of focus (e.g. digital capability, transformation, cost reduction, revenue increase, etc.).
NEAT tools are a part of NelsonHall’s “Speed-to-Source” methodology. The tool sits at the front-end of the vendor screening process and consists of a two-axis model: assessing vendors against their “ability to deliver immediate benefit” to clients and their “ability to meet future client requirements”. Vendors are scored against a wide range of criteria, establishing a number of scenarios, each representing a different business situation or client business need.
Furthermore, NEAT tools enable buy-side organizations to input their own weightings and tailor the NEAT dataset to their specific requirements across all the vendor evaluation criteria. Using the interactive web-based tools, sourcing managers can configure the NEAT evaluations in accordance with their own priorities and business requirements for service offerings, delivery capability, customer presence, benefits achieved, and other criteria.
To arrange a demonstration of NelsonHall’s NEAT vendor evaluations, contact Guy Saunders at email@example.com.