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Evaluate Scope and Requirements

You and your stakeholders understand the specific needs of your company. However, you may not be a subject matter expert on how this exact purchase will solve a pain point for your end users. Our category research will help you map out the requirements and performance metrics that will guide your strategy.

Understand Initial Costs and Total Cost of Ownership (TCO)

Not only do you need to understand the cost of the good or service up front, but you also need to understand the TCO so you don’t get burned months or years into the contract. Use our reports to assess factors that affect TCO, like product specialization, switching costs and related goods, so that you can incorporate them into your budget.

Identify Alternatives and Substitutes

Have you thought about whether there are lower-cost alternatives or substitutes for the requested good or service? Instead of spending time scouring the internet for possibilities, turn to our category research, where you’ll quickly see a High, Medium or Low score that alerts you to the availability of substitutes.

Ensure Buy-In from Stakeholders and Management

Arming yourself with all this information allows you to speak knowledgably to key stakeholders and management when presenting your purchasing strategy. You’ll be able to confidently answer questions, defend your approach and walk away with the necessary buy-in to move forward.

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More Info

Download a PDF summary that outlines how ProcurementIQ reports assist in each stage of the Procurement Process, from needs assessment and planning all the way to negotiation and integration.

Procurement Insider

The ProcurementIQ Procurement Insider is your go-to resource for timely and relevant procurement news. Dive deeper with topical analyst insights, infographics, top 10 lists and other information to help you identify opportunities and make smarter purchasing decisions. Also, check out our Client Q&As to find out how others in your industry are using ProcurementIQ procurement reports.