The Guidant Group SBA process provides a valuable diagnostic service for organizations who desire to evaluate their business condition with respect to use the and management of their contingent workforce. Guidant Group provides a short term, independent assessment of your organization's spend and current business policies and procedures relative to contingent workforce management with respect to the industry's best practices.
The SBA process will deliver valuable insight to help your organization assess the potential for direct and indirect cost savings, process efficiencies, and determine and/or validate any potential areas of business risk exposure. At the conclusion of the SBA, your organization will be able to:
- Identify opportunities for direct cost savings relative to:
- Supplier rate structure
- Contract compliance
- Categorization of workers
- Volume discounts
- Assess potential for indirect savings /efficiencies in related business processes such as:
- Consolidation in invoicing
- Time and expense processing
- Supplier management
- Evaluation of business risk exposure regarding:
- Co-employment
- Legal compliance
- Insurance coverage gaps
Guidant Group's SBA process is performed with complete confidentiality by experienced Guidant Group personnel with backgrounds in consulting and operations. Our team will interview the your identified stakeholders to gather pertinent information regarding your current spend, processes, and policy management practices. Once the data is collected, Guidant Group will conduct an off site analysis to compare the information to industry best practices and perform a supplier analysis.
Strategic Business Assessment
The scope of our SBA includes the analysis of actual and current financial data, contracts, policies, and programs in the areas of:
- Vendor Management – review of current sourcing strategies used to select contingent worker suppliers; existing (or non-existing) supplier contracts and controls; audit of contracted vs. actual pricing; existing programs to analyze and audit supplier performance, quality and effectiveness, etc.;
- Cost Management – detailed review of contingent workforce utilization by skill set and location, and associated Supplier charges (mark-ups and pay rates to contingent workers). This data is then benchmarked against Guidant Group's proprietary compensation programs to determine direct cost savings and ROI. In addition, we measured potential indirect cost savings in the area of hiring manager productivities, process improvements and corporate departmental savings;
- Business Processes – analysis of existing "requisition to selection to payment" processes in the various business units for the acquisition and administration of contingent labor spend. This includes candidate screening, on-boarding processes such as background/drug checks, time sheet capture and authorization, invoice authentication and payment, etc.;
- Technology – review of current manual and automated tools in the acquisition and administration workflow for contingent labor management. This insight helps Guidant Group determine how our technology can increase efficiencies and productivities in the process workflow (requisition approvals, distribution & fulfillment, automated time capture and approvals, etc.), consolidated invoicing, performance metrics and reporting, etc.
- Risk – review of existing HR and business policies and the subsequent adherence and enforcement of these policies to assess potential areas of risk in the areas of contingent worker co-employment, misclassifications, overtime payments, background checks, I-9, etc.;
- Business Intelligence – review of existing (and non-existing) manual and automated reporting to provide clients' with the visibility to proactively manage enterprise contingent workforce spend.
Our SBA findings are gathered through one-on-one interviews with corporate departments (Procurement, Legal, Human Resources, Accounting, Finance, and IT) and multiple field business unit hiring managers and end-users. In addition, we work with our clients to obtain sample data from internal reports and existing suppliers. We then analyze spend and costs for all labor types across geographies and business units of high and critical contingent labor utilization.
Please contact Guidant Group at contactus@guidantgroup.com or 888.772.2094.
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