[Webinar Recap] Plugging Value Leakage in IT Outsourcing Engagements: The Challenges and Opportunities for the CIO
On October 5th, 2016, Sirion conducted a webinar featuring Andrew Bartels, VP and Principal Analyst, Forrester alongside Ajay Agrawal, CEO, Sirion. Titled “Plugging Value Leakage in IT Outsourcing Engagements: The Challenges and Opportunities for the CIO,” the panelists discussed the key reasons for value leakage in IT outsourcing and how this could be addressed through specialized tools purpose-built for governing such engagements.
CIOs and their IT departments often struggle to realize the full value in IT outsourcing engagements due to ineffective governance and lack of performance alignment between the enterprise and its suppliers. Industry research shows that on an average, 15-20% of the Annual Contract Value stays unrealized in such engagements, significantly undermining the ROI.
The key takeaways from the webinar are summarized below.
- Service providers are more critical to firms (both for IT and for business overall) today than ever before
- Traditional tools and technologies are not adequate to manage today’s complex supplier management challenges
- CIOs can take the lead in embracing specialized software tools to enable not just the IT organization but the entire enterprise to get the most value from their service providers
Going by the audience profile (a rich mix of CIOs and other IT leaders and managers; and senior executives from sourcing and procurement, contract management, outsourcing, vendor management, etc.) and the questions and feedback that we received during and after the webinar, the relevance and appeal of this subject in today’s outsourcing eco-system is clearly evident.
Andrew Bartels, VP and Principal Analyst, Forrester
Andrew Bartels primarily contributes to Forrester’s offerings for the CIO. As an analyst, he is a leading expert on tech market trends and sizing, cloud and smart computing technologies, tech budget benchmarks and processes, and tech’s impact on business operations. He also researches the growing customization of tech systems for industry-specific solutions for utilities, energy, government, education, and professional services sectors. He is a thought leader in buy-side technologies and business networks. Andrew has been with Forrester for 15 years, starting with Giga Information Group which Forrester acquired in 2003.
Ajay Agrawal, CEO, Sirion
Ajay has been a product visionary in the strategic legal technology space for more than 20 years. He founded UnitedLex Corporation in 2006 – a global leader in legal process outsourcing and strategic legal technology – leading the company through a period of profitable growth creating over $100mn in enterprise value in 4 years. Ajay has worked as a securities law expert in some of the world’s leading firms and investment banks. He serves as an entrepreneur-in-residence at CodeX, the Center for Legal Informatics at Stanford University. Ajay holds an LL.M. from Columbia University, LL.B. from Trinity College, Cambridge and a B.A. in Semiotics from Brown University.