It is critical to develop a sourcing strategy that aligns to the organisation's overall business strategy. Services sourcing is not a commodity transaction but rather establishing the appropriate arrangement that is beneficial to both parties. It needs to focus on value and outcomes while taking into account changing business needs as well as how the relationship will be successfully managed.
LODESTAR provides the full suite of services for processing sourcing transactions using globally proven tools, templates and methodologies. The LODESTAR methodology ensures the smooth execution of the sourcing strategy ensuring that the customer is always in control of the process.
With so many challenges relating to IT projects (both internal and outsourced) LODESTAR undertook a global search for IT project cost estimating tools. This resulted in LODESTAR being appointed the reseller of the SEER suite of tools for Australia and New Zealand. These tools allow effort, duration, risk and cost to be calculated based on global knowledge bases.
Negotiation of services agreements is complex. While there has been a trend for procurement organisations to become more involved in the sourcing of services, it continues to be an area where suppliers have the upper hand as they have specialist teams that negotiate these types of deals every day. LODESTAR assists in levelling the playing field for customers to negotiate fair deals.
Contracts are negotiated at a conceptual level but executed in excruciating detail. The establishment of a successful governance structure and associated processes is the most critical component of any sourcing transaction. LODESTAR works with customers and suppliers at the start of an agreement to ensure that the relationship starts off on a good footing.