Across all industries, organisations are under an increasing amount of pressure to achieve and deliver more value within a constrained budget. This has resulted in organisations turning towards an Outcome Based Procurement model for a solution.
WHAT IS OUTCOME BASED PROCUREMENT?
Outcome Based Procurement is significantly different from other more traditional procurement models. The contracts derived from this model focus more on the ‘What’ than on the traditional ‘How’, this means that organisations can focus on defining to a service provider what they want instead of trying to provide that themselves and thinking of the how to provide it.
This procurement model works by the organisation providing outcomes that they want met. This removes the need for the organisation itself to come up with a solution, instead the organisation transfers this responsibility to a service provider. Continue reading