Building IT Services Ecosystems through Market Networks

THE FUTURE OF THE IT SERVICES SECTOR

BUILDING IT SERVICES ECOSYSTEMS

THROUGH MARKET NETWORKS

Join leading IT services businesses as they innovate how they connect,
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We are in the middle of a massive shift in the way IT vendors, distributors, partners, suppliers and contractors provide and consume services.

We’re in an extremely competitive market

Project-oriented services have shown the biggest growth in recent years as customers attempt to deploy new technology platforms like cloud, mobility, big data and social in order to gain a business advantage, as well as the need to optimise their critical business systems.

While experiencing a supply shortfall

Demand for talented IT services providers and people is increasing as end users look to them for consultation on next-generation technologies. The closed channels in which most IT businesses operate means there is not enough access to needed providers and capabilities needed to create new offerings and business models.

Costs are at an all-time high

End users are too reliant on outdated methods to acquire talent – searching through recruiters and job boards, and managing multiple supplier relationships and siloed networks – leading to high overheads and costly inefficiencies across the business.

There is little transparency across projects

With businesses taking on more complex projects and working with multiple partners, real-time transparency in both communication and workflow management is necessary to minimise project failures, delays and further expenses.

We are in the middle of a massive shift in the way IT vendors, distributors, partners, suppliers and contractors provide and consume services.

We’re in an extremely competitive market

Project-oriented services have shown the biggest growth in recent years as customers attempt to deploy new technology platforms like cloud, mobility, big data and social in order to gain a business advantage, as well as the need to optimise their critical business systems.

While experiencing a supply shortfall

Demand for talented IT services providers and people is increasing as end users look to them for consultation on next-generation technologies. The closed channels in which most IT businesses operate means there is not enough access to needed providers and capabilities needed to create new offerings and business models.

Costs are at an all-time high

End users are too reliant on outdated methods to acquire talent – searching through recruiters and job boards, and managing multiple supplier relationships and siloed networks – leading to high overheads and costly inefficiencies across the business.

There is little transparency across projects

With businesses taking on more complex projects and working with multiple partners, real-time transparency in both communication and workflow management is necessary to minimise project failures, delays and further expenses.

Business ecosystems are the way forward

As collaboration and partnerships across the IT supply chain grows, businesses are opening doors to more projects through their own growing networks – whether it’s via referral from partners, putting forward their own teams for new projects or enabling global opportunities that were previously only open to larger players. (e.g. UK suppliers can receive opportunities from Asia for a global end user project requiring deployment in multiple countries.)

Business ecosystems are the way forward

As collaboration and partnerships across the IT supply chain grows, businesses are opening doors to more projects through their own growing networks – whether it’s via referral from partners, putting forward their own teams for new projects or enabling global opportunities that were previously only open to larger players. (e.g. UK suppliers can receive opportunities from Asia for a global end user project requiring deployment in multiple countries.)

The solution: market networks

A market network is a blend of a marketplace and a social network with a SaaS solution,
to help players in the network work with clients and one another, on longer, more complex projects.

Marketplaces at their core are all about transactions. Buy and sell, with each transaction typically being one-dimensional. They’ve evolved in recent years to include scores, reviews and other factors that potential customers can base their purchasing decisions on – think Uber or Airbnb.

Networks are of a social nature. People communicate, build knowledge based on their peers, and invest in relationships – think LinkedIn. Commerce is not the core objective of networks, but often a natural next step.

In the IT services sector, the services provided are more complex than a mere buy-sell transaction. They require multi-dimensional interactions, and there is a strong need to build and maintain relationships with several partners in the industry. This is the case now more than ever as projects continue to push multiple players to team up and collaborate in new ways to provide complex services.

The SaaS solution is a critical component for market networks, as the software features and workflows are designed for action around larger-value projects. The solution brings together the facilitation of project tasks execution and workflow management, along with streamlined, transparent communication between professionals within the network.

Market networks enable ecosystems

Aside from the technical benefits, market networks link up all vendors, IT service partners, distributors, suppliers and contractors, enabling an ecosystem environment where by working together, more complex problems can be solved.

Everyone’s place within the market network of tech partners is just as important, if not moreso, than the quality of their services or capabilities, and how they participate is the most powerful lever of growth and value creation. This new community of businesses can compete and collaborate with each other on available resources, share insights and skills, co-evolve, and jointly adapt to external disruption; ultimately driving new creative and innovative solutions to rising challenges while creating strong barriers to entry for new competition.

Multiple benefits of market networks

Enable workforces to flow freely amongst projects

Market networks provide transparency to vendors, service partners and suppliers on what opportunities are available and where the current capabilities exist within their own businesses as well as outside of. This provides vendors, service partners and suppliers the ability to forecast opportunities and build Talent-as-a-Service (Taas) marketplaces to resource projects in real time, at scale, globally. This means better utilisation of existing teams and their capabilities, reduced overheads, and an all-round workforce fluidity that provide capabilities where the demand is.

Facilitate today’s complex, project-centric solutions

Market networks are designed for the current competitive market, facilitating project-oriented services that demand involvement from multiple vendors, service partners, suppliers and contractors at different milestones and in various capacities. Partners are rallying around projects, and having a SaaS solution at the centre of market networks ensures the project focus remain front and centre, allowing shared responsibilities and reducing the onus on one single party to drive the project entirely, minimising the risk of failure.

Save time and reduce costs

Market networks eliminate the need for traditional, inefficient methods such as cold calling, siloed communication, multiple email threads and clunky spreadsheets. The end-to-end technology provided by the market network SaaS solution means a single source for finding capabilities and collaborating across all market players, saving businesses not only extensive time, but also reducing overheads and having capacity to take on more business.

How SaaS solution power market networks

Increase engagement, efficiency and transparency

With the right SaaS solution underpinning the market network, the work for each party across the project becomes effortless. Real-time notifications, reduced miscommunication, streamlined processes – it all adds up to increase the speed of project completion and it’s success rate. And never underestimate the power of a visually pleasing software.

Automate matching of demand with supply

Market networks connect IT services players with a bigger network of projects and capabilities, providing the quickest pathway to offering and consuming both. Vendors can easily source partners for end users, end users can broadcast opportunities directly, partners can book additional capabilities and take on more projects, suppliers and contractors can access new opportunities within the network – the list goes on. Project-capability matching through the SaaS solutions means players can be instantly alerted with new opportunities and capabilities, offers and scopes of work can be shared, contracts negotiated and projects kickstarted – all in a matter of days.

Results we’re seeing through the Bench market networks

39 minutes

to first offers from contractors

4 hours

to quote submitted by 3rd party suppliers

30% increase

in time saved during recruitment of people

$1000 – $6M

value of offers seen for a range of opportunities

“We have been working with the team at Bench to extend our IT resourcing capabilities. The easy to use platform has allowed our team to integrate new contractors quickly and provide additional services and resource capacity to our end clients. By partnering with Bench, accessing these skilled IT contractors is fast and fluid and can scale in a matter of moments rather than taking days or weeks with traditional recruitment methods.”

Paulo Mpliokas
CEO, Olympus Technology

Join the shift to market networks