text: Wondering what “market-based sourcing ” means? It’s simply about having access to a wider panel of experts. When an RFP is published on a platform, you can leave it open to your preferred suppliers, as well as other suppliers on the marketplace who have not signed a framework agreement with you. Thus, these new partners can provide their expertise on your projects without going through the traditional referencing process. Preferred suppliers are not cast aside, but rather have the opportunity to demonstrate their suitability to be in the panel as well as the quality of their proposals.
  Similarly, being listed as a supplier on the marketplace gives them the chance to offer their skills to new clients they have not yet worked with, and thus gain access to new markets. This agile approach is also key to reducing the rate of economic dependence between various stakeholders.
  A healthy dose of competition, encouraging different stakeholders to be more competitive on their rates and the suitability of their proposals;
  The opportunity to work with a supplier (IT service provider or freelance) or client at the right price, without subcontracting chains (and thus cost accumulation) thanks to ‘salary portage’.
  Your longstanding supplier panel was initially put together based on their expertise in a core business area within a particular field or area of technology. If they work with you, it is because they have demonstrated this expertise. A market-based sourcing approach does not challenge their expertise, but rather encourage them to focus on their core business area. Therefore, by expanding your panel, you have access to the experts you need, while retaining the loyalty of your preferred suppliers for their key skills. In this way, these suppliers won’t waste time trying to identify skills that don’t match their expertise just to satisfy a client. Your overall level of satisfaction will be greater as a result.
  Therefore, using a market-based sourcing approach for your RFPs is now a really relevant and viable option for finding the ideal expert while optimizing costs. Indeed, the service cost can be lower on a marketplace because the process is more direct and transparent. The subcontracting (often cloudy) process can lead to an additional cost of 15 to 40%. Some marketplaces, through their working methods and application screening process, greatly limit subcontracting chains. This therefore reduces the overall service rate. Pricing grids can be applied to the application to ensure that your budgets and requirements are respected, but also to highlight the key skills of your preferred suppliers. These grids can be fine-tuned based on profile type, resulting in an even more efficient and accurate pricing grid. However, don’t forget that platform-based sourcing is just one feature of a tool, which needs to be adapted to your needs. How often you choose to use a marketplace for sourcing depends on the parameters you select when setting up the platform and publishing RFPs.
  What are the best practices for selecting service providers when you open up your supplier panel to marketplace?