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Benchmarking

Intelligent Bills benchmarking team provides clients the industry’s fastest, most accurate and cost effective solution for price benchmarks, cost benchmarks, and contract benchmarks.

Our team is set out with the goal of redefining benchmarking by creating parametric models to provide accurate, reliable results that allow clients to rapidly make fact-based decisions. With deep databases of information across functional areas and industry verticals, our benchmarking team provides IT, Finance and Sourcing executives with the insight they need to make informed business decisions.

Intelligent Bills can deliver a benchmark in weeks instead of months, with relevant data modeled to the client’s scenario, at as much as 70% below the market cost for a benchmark.

  • Price benchmarks provide clients real-time data on the market price for products and services modeled to the type, quantity and quality of the service or product you are interested in buying
  • Cost benchmarks provide clients insight into how their cost of operations compare to similar organizations
  • Contract benchmarks provide clients with insight into whether their terms, conditions and SLAs are market-standard

Our deep databases of information from hundreds of clients enable us to benchmark price, cost, and contract terms across functional areas, industry verticals and geographies.

Benchmarking Data

Intelligent Bills has been advising clients on sourcing transactions and internal operational transformation for 20+ years over which time we have collected data from 1000s of engagements. Our benchmarking databases are updated real-time throughout the year and can be sorted and searched to provide price, cost, performance and contract terms across different industries, geographies, vendors/providers/carriers, technologies, contract scope and scale. Unlike other benchmarks that rely on individual peers, our modeling techniques allow us to quickly calibrate our models to keep them current and accurate. Once calibrated, our models can then predict price across a wide range of price points and configurations.

Methodology

Our benchmarking methodology ensures consistent outcomes at each Intelligent Bills client. Our benchmarking service utilizes a proprietary database with hundreds of thousands of data points updated weekly to reflect current market realities. This automated platform provides a repeatable and consistent single version of reality eliminating subjectivity while providing significantly greater reliability of results. Clients can be assured that results from one benchmark to another will be fully comparable. Consistency, in turn, allows the results to be used for predictive purposes and “what-if” modeling. A nearly infinite number of scenarios can be created, with all calculations and data access being conducted against the massive database.

The Intelligent Bills Difference

In legacy benchmarking, so much effort is spent on getting to the right number, rather than understanding “why” and working to fix the barriers for success. At Intelligent Bills, we give our clients more than a benchmark. We provide them:

  • The information to decide on a course of action
  • The ability to implement that decision
  • The framework to get the value from that decision

Most benchmarking firms rely on a labor-intensive, antiquated process for gathering a company’s data and comparing it to their databases. Further, at most benchmarking firms, results vary with the analyst interpreting the data whereas at Intelligent Bills our proprietary toolset provides consistent, accurate and reliable results. Streamlined techniques for data collection and interactive results are just a few advantages of Intelligent Bills strong methodology and use of automation to deliver results in weeks where others take months

Contact us today to learn more about how Intelligent Bills can help you achieve your objectives.

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