Contracting

Take a data-driven approach to contracting to gain a competitive advantage and maximize top and bottom line growth.

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Problem

Faced with an increasingly competitive market with relentless price reduction pressures, contracting teams are under tremendous stress to deliver to clients product messaging that tells a story of innovation, differentiation and value. The broad categorization of products that considers the most basic related attributes between competitive products can cripple this story from even getting off the ground. It doesn’t help that the tools and processes on which these teams rely are severely inefficient, often involving multiple analysts and contract managers squeezing every last drop out of Excel responding to a single RFP (Request For Proposal) over the course of several weeks as new RFPs enter the queue leaving no time for proactive competitive product category conversions.

Without making a strategic change to the inefficient method in which contracting teams operate, product ASP (Average Selling Price) is highly likely to continue to decline.

Solution

How RELATABLE can help

Combined with the Product Data Catalog, the Guided Purchase Solution (GPS) helps contracting teams execute a strategy that focuses on features, not broad categorization, deploying data-driven methods that automate RFP response and proactive competitive product conversions, highlight the innovation, differentiation and value attributes of your products - and brand - versus the competition.

Learn more about the Guided Purchase Solution

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Benefits

Easily upload and analyze client usage data

Ease the burden of the contracting process by making it easy to ingest client usage data, automatically match competitive products to your own, and right-size the response.

Measure and manage spend-based or unit-based compliance in real-time

Access advanced analytics that detail usage by product type, medical specialty, or even the entire spend of a client IDNs, systems and individual facilities.

Identify every potential sell and convert competitive business

Know and show every single instance of competitive usage in which a client could convert to a related product in your portfolio, predicting the cost impact of each conversion based on similar usage.

All the data you need in one place, accessible on any device

Access attribute-level product data ( like dimensions, design features, codes, indications) and collateral (like animations, PDFs, white papers, presentations, webinars) all within a single location.

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