Published: 17 July 2024
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.
Incumbent service providers often struggle to deliver innovation and value in outsourcing deals, but they frequently seek to extend those deals with minimal change.
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.
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.
Use a defined decision-making process to determine whether to leverage a single-source negotiation or a competitive
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Analysts:
Andrea Lanzavecchia, Mark Ray, Christopher Wiles
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