Supplier management has a significant impact on business performance, given heavy reliance on an array of vendors which can play a critical role in boosting efficiency, service quality and risk mitigation:
- If all goes well, their services provide you with a competitive edge – boosting value and growth.
- If not, they can be a fundamental drag on realising your firm's strategic ambitions – with value leakage, faltering service quality and exposure to third-party risk.
ServiceMatrix brings essential support for your robust vendor governance framework with standardized benchmarking of your service partners against their competitors and crowdsourcing of suggestions, ideas and new solutions.
Why ServiceMatrix?
use transparent service benchmarks derived from asset owners/managers' direct frank appraisal which rigorously pinpoints vendor strengths and weaknesses
access actionable data to drive growth through boosting quality, efficiency and risk mitigation – and use the data to engage with partners in a valuable feedback loop to drive change.
What's in it for me?
Immediate free access to ServiceMatrix benchmark reports. Ease-of-use in generating actionable data on where improvement is needed.
Which suppliers?
To date, service providers have been evaluated. All service partners can be examined.
What's the scope?
Reports are currently available for 25 service categories with evaluation underway for others. View the free reports and tell us your requirements.
How do I get started?
Pick an area of interest to view its benchmark report. Use the accompanying brief questionnaire to obtain actionable data to bind your service partners in driving improvement.
MORE QUESTIONS
How did ServiceMatrix come about?
A number of sovereign wealth funds and major asset management firms, frustrated with surveys which were unwieldy, awards-driven and subject to respondent-selection bias, engaged with our firm essentially asking "surely there's a better way?" – so we built the ServiceMatrix app.
Who has performed these rigorous evaluations?
Sovereign wealth funds, family offices and all manner of asset mamagement firms and institutional investors. More than 75 percent of responses come from firms using 5+ service partners.
Can it simplify service reviews?
ServiceMatrix allows each business function in each location to report on their service partner touchpoints, consolidates the data and offers up tools to contrast service levels by geography and function. Ask about streamlining your in-house reviews.
Does it serve other purposes?
ServiceMatrix highlights the availability of new services and lists prospective service partners while also guiding you on RFP pre-selection.
What's in it for a service provider?
In stark contrast to the sales and awards mentality of traditional surveys, ServiceMatrix has your clients engaging directly to provide frank appraisal of strengths and weaknesses – which is critical for you to engage in a valuable feedback loop to drive improvement. This is what clients want and what best serves all parties' long-term interests. Have your brand and promotion of the full range of your services at this service benchmarks utility. We also offer a white-labelled version tailored to your requirements.
METHODOLOGY
The latest ServiceMatrix analysis is derived from approaching 500 qualifying responses. A significant proportion of these comes from institutions using multiple service providers, making them best-placed to draw fine comparisons in the performance of their chosen partners. While vendors have been evaluated to date, 19 have sufficient evaluations to qualify for the latest reports.
Respondents to simple, definitive questionnaires provide frank appraisal of their counterparties, scoring them in one or more service categories according to the following scale:
➀ Unacceptable
➁ Very poor –
always fails to meet expectations
➂ Poor –
often fails to meet expectations
➃ Satisfactory –
sometimes meets expectations
➄ Good –
always meets expectations
➅ Very good –
occasionally exceeds expectations
➆ Excellent –
consistently exceeds expectations
CONTACT US
Please reach out via email to info@servicematrix.net or call on +44 20 7362 3000.