ExpandSMARTSOURCING provides financial institutions with the ability to gather market intelligence about new and innovative technologies. Offered free to banks, ExpandSMARTSOURCING sidesteps several stages of a request for proposal (RFP) based procurement process. Expand’s partners are engaged in persistent research into new technologies for financial markets. Thus, when a requirement or opportunity is identified, it is highly likely that Expand is already engaged with a number of vendors who can provide an effective solution. When this is not the case, Expand’s partners in Europe and the United States’ major innovation centres scour the market for suitable solutions. Expand’s local partner then assesses the suitability of each solution before presenting a short-list and arranging product demonstrations. This stage typically takes no longer than three weeks but can be completed in under ten days.
Mark Worrall, managing partner explains: "All of the senior contacts we speak to face similar issues when it comes to procuring new technology. They are too busy to monitor technological developments in different markets themselves and therefore can’t keep up to date with the more innovative solutions. The traditional procurement model involving detailed RFP’s can take months to complete and typically favours larger vendors. When there’s a burning issue to resolve, time is of the essence and our experience has shown that innovative vendors can move faster and often have fewer integration issues."
Worrall continues: "With ExpandSMARTSOURCING, we offer banks free access to our proprietary research which not only keeps the IT directors up to date in a very efficient manner, but also drastically speeds up the acquisition process."
Expand Consulting LLP works with major banks across Europe to identify, acquire and implement the most appropriate technology available. With a team of local experts in each of Europe's major markets, Expand Consulting is uniquely placed. No other company is engaged in such persistent research into new technologies for financial markets. This enables Expand to provide financial institutions with direct access to more innovative technologies than any other channel.
Call +44 207 956 2011 for more information.
