Published: 17 July 2024
Summary
Co-solutioning is an agile approach for selecting and procuring transformational solutions and services. Sourcing, procurement and vendor management leaders can leverage this approach in a single-source engagement to renegotiate outsourcing contracts or escalate to a competitive process.
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Overview
Key Findings
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Incumbent service providers often struggle to deliver innovation and value in outsourcing deals, but they frequently seek to extend those deals with minimal change.
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A major challenge to renegotiating a renewal of an existing deal is the client’slack of competitive leverage when trying to create or expand change, transformation and innovation.
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Client organizations in existing service provider relationships struggle with the decision of whether to extend/renegotiate the current deal or invest the time and effort in managing the burden of a new competitive deal.
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