Fieldglass Features: #10 – Contingent Rate Negotiation (and show lowest submitted rate)
So I was watching a video on youtube last night (“itchy boots”,inspirring channel – give it a search!) whilst trying to get my daughter to sleep, and the presenter spoke of this vlogmas? Basically they were doing a video blog a day for the month of December. Now i’m obviously too busy adding value to my customer’s programs to commit to something like that – but I will at least try to put in one last burst of blogs in the coming days before i sign off on my extended parental leave
As we slide into the (what can be expensive!) festive season I thought what better feature to address than rate negotiation and demonstrate how this nifty little feature with minimal effort can save the business significant costs – and best of all those savings are fully transparent and reportable!!!
So lets get into it – Rate Negotiation (and show lowest submitted rate).
What does it do:
Show lowest submitted rate provides suppliers the visibility of the price competitiveness of their candidate(s) compared to the current lowest bill rate of the candidates still under consideration for the job posting.
Once Rate Negotiation is started on a job posting by the buyer, suppliers of job seekers in shortlisted or interviewed status are notified and have the opportunity to reduce their submitted rate – this feature is used in conjunction with show lowest submitted rate in order to drive the competitive bidding process. When a supplier reduces their submitted rate, the other suppliers are notified and if impacted, the new lowest submitted rate is updated
Why should it be of interest:
Saving money is front of mind for nearly every customer we are working with at the moment. And Rate Negotiation (and show lowest submitted rate) will not only assist you promoting competitive sourcing and market competition, it’s also fully reportable and allows you to report the specific savings gained to the business as a result.
Click this link to download the feature document
Effort to implement –medium.
Effort to test – easy
Benefits to business – can you put a price on cost savings? Well yes – yes you can, and with our reporting capability you can put an exact price on the benefits you saved the business