Confidential NYSE Company
Service: Bid Builder
Industry: Corporate Services
Location: Houston, Texas
Company Bio: As a large provider of funeral, cremation and cemetery services, with shares traded on the New York Stock Exchange, this confidential NYSE company is growing rapidly. The company currently owns and operates more than 1,900 funeral homes and cemeteries.
“The Bid Lab team absolutely rocked this project. Throughout the process, they kept me and my team organized, and efficient, and even came in under budget. I was shocked at how easy they made this process for us, and how great it was to work with their team.“-Client Project Manager, IT Support
- The Bid Lab managed the entire procurement process to choose a Telecom Expense Management partner.
- The Bid Lab compiled requirements and drafted a statement of work into a Request for Proposal (RFP) document.
- The team managed inquiries between bidders and the company to maintain a fair and objective process.
- We worked with an internal project team to establish a scoring approach and evaluation criteria for proposals.
- The Bid Lab evaluated responses and prepared a report of criteria scoring justifications.
The Bid Lab’s confidential NYSE company client sought to procure a new telecom expense management (TEM) software provider through the RFP process. Although the Client had a current TEM provider, they had not updated or revised their service agreement in years. The Client wanted to review new TEM proposals to compare additional market offerings with their current agreement. An internal Client project team was assembled to evaluate supplier scenarios and offerings. The goal: to select the most beneficial partnership for the Client.
The firm retained The Bid Lab to manage the procurement effort and evaluate proposals for Mobility ServiceDesk, Telecom Expense Management (TEM) and Wireless Expense Management (WEM) solutions. The Client wanted to work with a third party that was unbiased in its evaluations. This was to make sure the process was fair, and the results were justified. Furthermore, having worked with the incumbent vendor for so long, it was important that The Bid Lab reviewed their proposal with a fresh perspective. Additionally, the Client wanted to work with a firm that not only understood the procurement process but also had technology and telecommunications expertise.
“We didn’t know what to expect when we started this process, but The Bid Lab always guided us to ensure it was smooth and enjoyable. I absolutely recommend this firm to any company – large or small – to use for important procurement projects.”– Client Project Manager, IT Support
The Bid Lab worked with the Client team to facilitate stakeholder agreement. Before the RFP was issued, we finalized the scope of work and evaluation criteria. Though the Client had already developed a list of qualified TEM providers, the Bid Lab took over the communication with the vendors. After finalizing the scope of work and the RFP, The Bid Lab distributed and managed all communication. After four (4) vendors submitted proposals, The Bid Lab conducted a thorough evaluation and scoring of all bids that were both unbiased and efficient. The Bid Lab then worked with the Client to narrow the field to the top two (2) bidders. These final two bidders proceeded to the next step of pricing conversations with the Client.
The Results of the Engagement
The Client’s internal project team was very engaged in the entire process. The proposal analysis and scoring helped the Client eliminate two (2) bidders. The Bid Lab helped prepare the Client project manager to present the evaluation justification to their executives. Ultimately, the Client chose to work with a confidential vendor that has saved the firm in terms of expense and operational resources. The Client is thrilled that it has taken the time to evaluate what is available in the marketplace to ensure it is optimizing telecom expenses for many years to come!
How Can We Help Your Business?
From crafting an RFP to communicate your needs to choosing a vendor, The Bid Lab is here to help your business. Visit our Case Studies to see how we’ve significantly helped companies like yours achieve response success. Reach out to us at firstname.lastname@example.org or 1-844-4BIDLAB to learn more about growing your business with RFPs!