EquaTerra have launched Governance WorkPlace™, a new IT workplace Governance solution, developed in conjunction with Microsoft. EquaTerra made the decision to develop the specialist tool with Microsoft after becoming increasingly aware that, in line with an increase in sourcing activity and the subsequent need to manage Service Providers and contracts effectively, a significant number of their clients were looking to improve their sourcing governance processes.
It is estimated that the tool can reduce the cost to manage an outsourced relationship by 1% of the Annual Contract Value (ACV). Most organisations’ outsourcing governance budgets are between 4-7% of the annual value of the contract, and Governance WorkPlace can reduce these costs by approximately 20 per cent.
"We find that clients have developed multiple spreadsheet systems for each individual outsourcing relationship for verifying, managing, monitoring and reporting that are not automated or scalable," explains Mike Beals, EquaTerra’s Managing Director responsible for Governance WorkPlace. "Organisations are spending a lot of money and time becoming spreadsheet jockeys rather than making business decisions, especially during the early months of the relationship when critical issues need timely resolution”
"Given our work with our clients, it's apparent that C-level executives are having a difficult time obtaining visibility to what's going on globally" he added. “That lack of visibility and control puts organisations at risk financially as well as legally, in instances where there isn't consistency and clear oversight in the governance of relationships. We searched for a comprehensive tool that could provide what was needed. When EquaTerra couldn't find one, it started looking for a platform on which to build one. Microsoft's platform was very suitable to what we were looking for and the fact that many clients already had existing Microsoft licenses simplified the decision to go with the platform." he added.
For instance, the findings of EquaTerra’s latest Service Provider Performance Studies* show that nearly half (48 per cent) of senior managers see their sourcing governance skills as ‘weak to average’. Additionally, 85 per cent of study participants planned to spend less than 7 per cent of their overall budget on IT governance, despite many of these same respondents indicating that they wished to outsource more.
Governance WorkPlace responds to this need by providing large firms with an enterprise-wide management view of all its internal business processes, enabling managers to proactively govern either shared services or outsourcing. It is built on Microsoft’s business intelligence platform and is the first, and only, solution developed by the experts in outsourcing and shared services specifically for the buy-side client community. It has been designed to support the management of complexity, provide people with information and streamline processes. To this end, Governance WorkPlace is built around six important management function – Financial; Issue; Contract; Service; Compliance and Relationship and Communication.
For more information on Governance WorkPlace or to arrange a media interview with an EquaTerra spokesperson, please contact Sarah Beyrath on +44 (0) 207 347 516 or +44 (0) 7702 915 968. To take a closer look at Governance WorkPlace please visit: http://www.equaterra.com/gwp/default.aspx.
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