Vendor Management: Leading a Cost-Saving Vendor Consolidation Process

Client’s Challenge

Consolidate $100M in Media Spending

Our client was purchasing media through several vendors across their 14 division marketing teams. The goal was to streamline $100M in media spending via an enterprise media partner.

Our Solution

Process, Implementation Planning & Change Management

Our team led the vendor consolidation process, as well as the implementation plan, including change management activities, to ensure a successful transition.

Value Realized

Streamlined Pricing & Service Levels

Our team effectively delivered all requested information during the consolidation process and assisted our client in making a timely and informed decision on a new vendor, as well as negotiating pricing and service levels. Our client achieved the projected ROI.

Project Details

Our client’s 14 division marketing teams were each purchasing media through local agency partners. They asked us to provide vendor management with a goal of streamlining $100M in media spend.

Their teams were duplicating efforts and costs by working with individual agency partners for local media buying. After recognizing consolidation of vendors as a cost-saving opportunity, this Fortune 100 Healthcare Organization hired InfoWorks and our business management consultants as vendor managers to facilitate the selection of an enterprise media partner.

InfoWorks led the vendor selection process and negotiated standardized pricing and service levels.
Our team interfaced with multiple vendors throughout the process to deliver requested information and presentations, resulting in the final decision. Following selection, we negotiated with the media partner to agree on standard pricing and service level agreements.

We created a comprehensive change management plan to ensure adoption of new processes.

Our consultants worked closely with our client’s team and the selected media vendor to develop change management plan. The plan involved performing a stakeholder analysis to pinpoint areas requiring resistance management. Our team coordinated onboarding activities, including an internal communications plan and development of a change champion network. We also developed a team charter for the group owning the enterprise vendor relationship. Finally, we established an ongoing process to support adoption and utilization of the new vendor.

These initiatives helped our client realize the projected ROI from the vendor consolidation.

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