The client, a world leading actor in their field, experienced volatile IP portfolio cost management and had difficulties in answering management questions on deviations from budget.
There was lack of resolution in external IP costs with low predictability from month to month and insufficient information to identify the underlying factors.
Invoices from external agents included some of the information, but there was a no process for aggregating the data and using it for analysis and comparisons.
Project with Konsert
- Together with the client, Konsert developed and implemented an easy-to-use IP cost transparency tool.
- A process, aligned with Finance, was set up to support data collection and analysis
- A few months after the implementation Konsert made a review of the current situation using the collected data, and led a price re-negotiation with the suppliers on behalf of the client
- The tool, based on defined external IP cost factors, made it possible to collect and follow up on supplier cost information on service item and case level
- High granularity cost tracking made it easy to detect cost outliers and systematically make cost and quality comparisons on performed services
- The project enabled enhanced forecasting abilities and more specified budgeting
- The information provided excellent support in price re-negotiations as well as to further develop the collaboration with selected suppliers
Read our earlier insight to learn more about how to manage external IP firms and related IP costs.