Get More from Your Partners: Neo Health Check
IGNITE YOUR OUTSOURCING PARTNER ROI
- How would you rate the health of your outsourcing engagements?
- Is your outsourcing partner delivering the promised results? Are you deriving full value?
- Are you looking to enhance your outsourcing partner’s performance?
Unfortunately, outsourcing programs often don’t deliver promised results. Whether it’s unrealized savings, subpar performance, or an increased burden on your staff, the engagement and lack of results can be frustrating. Even when you think you know what the issues are, you are often unable to resolve them.
The truth is success does not happen as a result of renegotiations or a new project plan. Successfully managing an ongoing service delivery operation in a location halfway across the globe comes with unique challenges that require specific expertise and deep experience. Without a full understanding of mutual issues, proactive monitoring, and effective periodic adjustments along the way, more often than not, a sourcing program will stray from its initial objectives and disconnect from the intended ROI. Since 1999, Neo Group has empowered clients to get more from their outsourcing relationships and engagements. Our typical engagement delivers an ROI within 6 months of our engagement, including a median cost savings of 28%.
NEO HEALTH CHECKSM
Definition: “A business health check refers to a current, comprehensive, and holistic assessment of the key components that make up a business. It provides an assessment of the business's financial performance and stability, compliance risk, appropriateness of structure as well as key operational functions and processes.” With a Neo Health Check, you’ll gain a crystal-clear understanding of your outsourcing programs that enables you to make informed decisions and take effective action on what should you preserve, enhance, and change to get the ROI results you were promised.
Neo Health Checks:
- Understand if the GICs or External Service Providers are meeting objectives
- Identify what needs to remain the same, enhanced, or done differently and how
- Compare how your GIC/External Service Provider measures up against industry benchmarks
- Benchmark against current market capabilities to uncover new opportunities
- Identify automation opportunities for tasks and processes for vastly improved efficiencies
- Adopt a proactive approach to review the performance of ongoing globalization initiatives and relationships
- Define roles and responsibilities for greater transparency and collaboration between onshore and offshore teams
- Uncover and recommend optimization opportunities
The 8-week Health Check process involves a series of comprehensive interviews, data collection and benchmarking, and peer comparisons. These provide a standard, objective capability assessment of the service delivery center’scenter’s operating processes and service delivery quality, its human resources, and its facilities and technology infrastructure.
Neo Group leverages 20+ years of proprietary data and insights that Neo Group has collected serve all of us well as we carry out the engagement. Since Neo Group has no revenue relationship with any supplier, there are no worriesis no concern about conflicts. The focus is very clear – enhance and accelerate the outcomes for all partiesour clients.
The outcome of a Health Check is a clear understanding of your global operations, which helps enables you to takemake more informed decisions about what, in your sourcing relationships in terms of what you should preserve, what you should enhance, and what you should change. With third partythird-party services sourcing, there is also the added possibility opportunity of possible of contract re-negotiation, too.
We have helped leading organizations in financial services, insurance, Pharma, CPG, Hi-Tech, Retail, Logistics, Healthcare, and other industries ignite their outsourcing ROI.
Neo Group conducted a health check on a program that was not delivering on savings and a relationship that was deteriorating with no hope of success. They gave us insights that we had not uncovered in spite of numerous fix reviews and plans. Their observations and plans clearly laid out what we needed to change internally and what the partner needed. They also provided a detailed plan on what to enhance and what to preserve. A year later, we are together delivering more than expected.
-Fortune 500 Healthcare Leader
We negotiated with our partner in frustration every year on changes that would fix our program. The supplier recommended we find a neutral third party to help us both review the program. Neo Group came in and in less than 8 weeks had a plan we all bought into. They got both us and the supplier together and co-created an enhanced solution that clearly outlined what to preserve, what to enhance, and what to change. Six months later, we renewed and extended our partner contract. SLAs are being met and cost savings have been exceeded.