Audit arrangements can be complex and open to interpretation.
Like other contracts, getting the right people and the right team with the right contract and incentives can achieve outstanding results. However, without the right design and regular focus, internal audit contracts can atrophy and underperform.
In 2021 there are a myriad of options – not only in terms of providers but also in terms of the services they offer. The purchasing possibilities are endless, including from traditional providers. But traditional methods aren’t necessarily the best way to get the best value out of the relationship.
How we can help
Like any other purchasing category, market knowledge and purchasing insight is essential.
Todd Davies & Associates are the niche players in this space working with organisations through all aspects of the contract lifecycle – from category strategies through to audit function design, strategic resourcing planning, procurement, technical evaluation, contract management and renewal.
We know this market incredibly well. We are non-vendor aligned and have acted on the buy and the sell side for contracts of all shapes and sizes – secondments, body shop, specialists, panels, sole source, point solutions, turnkey, partnering, co-source, blended teams, outsourced delivery and fully outsourced functions.
We know the firms intimately and know how to create relationships which work to the strengths of both parties. Having worked on the buy and the sell side we know all the tricks of the trade, why some contracts work, why some don’t and how to underpin success.
Through our assistance we have been able to help our clients to:
- Set their resourcing strategy
- Set their sourcing strategy
- Turn around underperforming relationships
- Set their go to market strategy
- Structure the right contracts and market response
- Evaluate tenders
- Set up new contracts for success
- Streamline the delivery approach
- Turn around under-performing contracts
- Develop genuine partnerships
- Achieve cost savings and value for money gains
- Structure contracts that create value for both parties
- Reposition their function
- Achieve higher performance
When to engage us
Smart organisations typically engage us when:
- There is an opportunity for contract renewal or extension
- They want to improve the performance of their current arrangements
- They want to set up arrangements which ensure multi-year success and are easy to manage
- They want access to the latest thinking, benchmarks and market knowledge
- They don’t have the bandwidth to lead the exercise personally; or
- They want access to particular expertise to ensure the contract delivers its full potential.
How we work
Using our tried and true playbook for the end to end contract cycle – from strategic resourcing decisions through to contract management, we facilitate the right discussions to help you get the best outcomes for a fair price.
This can either be a series of facilitated workshops to test thinking, regular check points throughout or acting as the business lead for the entire project
An extract of the workbook that we use with out clients is provided below..
What people say
People have found our support in this area to be invaluable. Here’s a taste of what people have had to say on this particular offering.
Todd and I worked together in 2011 where we ran a sourcing exercise for Internal Audit services for a major global miner – Todd was the consultant and I was the client. This was one of the largest, if not the largest global account out to tender at the time, and all eyes were on the team to show the business that a better outcome could be achieved. To say it was an intense project environment would be to understatement the pressure and complexity we had to deal with. Even though Todd and I have not had the opportunity to work together since that four-month project, I often find myself reflecting on the role Todd played in making it a success. Still, to this day, and when facing difficult situations, I find myself asking, “I wonder what Todd would say?”, “what would he do?”
It’s not often that you get to work with somebody who has had such a profound impact on you. I thank Todd for his leadership, his wise counsel, and his passion for making others successful – a true inspiration and somebody I will talk about to others for the rest of my career!
Tony Davey, Global Head, Strategic Projects, Rio Tinto, Chairman, Chartered Institute of Purchasing and Supply
Don’t leave it to chance
This is a complex and important purchase that requires smart planning and execution. It is too important to be left to chance.
The right time to engage is when you’re first thinking about the need for a change your resourcing strategy or approach. When in doubt, talk to us as early as possible.
The first step starts with a confidential obligation-free discussion with Todd please contact us here.
Are you a service provider?
Business development is expensive – whether it’s marketing, product refinement, making the pitch, building relationships, tendering or getting a client ready to consider what you’re offering.
We work with clients on the buy side to make sophisticated choices about what is right for them at this point in time. This is not a “race to the bottom on price” but a nuanced approach to buy with absolute clarity.
It is really helpful for buyers and sellers when there is a really clear proposition.
While we can’t talk specifics about specific clients we can give feedback on your offers, strengths and weaknesses, possible niches and scalable opportunities. This helps with targeting, sales cycle times, customer fit, win rates and margins.
Our half-day feedback and strategy sessions start at $2,450. Contact us to find out more.