Sometimes it's the simplest things that take you where you want to go, effectively and efficiently. Like a bridge. A bridge, which is the result of science and engineering, and yet seems like a simple extension of the road.
The Negotiation Management tool
The simple ideas behind the Negotiation Management tool are:
Teams need access to consistent information in real-time to make good decisions
Data integrity and consistency needs to be ensured
Focus on the key tasks
Easy to learn and to use the technology
Simple ideas may contain a lot of complexity. Trading contains a lot of complexity on many levels, some of which is driven by the nature of trade itself and some which is driven by how we do it, i.e. which processes and technologies we use.
The Negotiation Management tool specifically aims to reduce complexity from processes and technology and to provide the platform, which allows the Rational Assistant to deal with the complexity of trade itself.
This means, that you benefit from reduced costs from bad processes and bad data, while making use of better data to achieve better results from your negotiation activities. All of which improves the bottom line.
As the name suggests the Negotiator Module is a tool to help you with negotiations. Negotiations may take on different forms and frequencies. The specific type of negotiations this technology addresses is repeated negotiations (for instance monthly) with a group of suppliers for products, which are well-defined (standardized or commodities). From a supplier point of view it would then be multiple customers, but otherwise the same.
Negotiations may typically involve price and quantity, but may also involve other frequently negotiated parameters depending on the situation. Good negotiations will both help you reach your objectives and build valuable relationships with your suppliers. The Negotiation Management tool helps you reach these objectives together with your suppliers. It is not a barrier, it is a bridge.
Data - curse and blessing in one
Data is good when we equate it with insights and in the context of artificial intelligence (AI) most people have heard, that a lot of data is even better. As so often, things are more complicated than this, and really it all depends on what your company's situation is and what you are aiming to do.
Problems with data cause lead to both obvious and hidden costs whether you want to work with AI or not. The reason why the problems are often not discovered or acted on before an AI project is started is, that people are very good at creating work-arounds.
What can some of these problems be?
Data in silos (information not available to other relevant users)
Data in the wrong place (for example stored in spreadsheets or emails)
Data disconnected from master data (not consistent, not updated, leading to multiple "truths")
Wrong data (typos, copy errors, format errors etc.)
Missing data (data never collected or not stored)
The bottom line
The Negotiation Management tool adds extra capabilities to your existing systems. Some of the advantages, which will impact your bottom line now and in the future are:
Removes the ailments of data in the wrong places so often caused by spreadsheets. Have the right data when and where you need it (during the negotiations) so that you can act on the information.
Helps the team make better decisions in real-time, while avoiding the hidden costs of data issues, redundant processes and work-arounds.
The ease of use of the tool means that new users quickly get up to speed leading to faster results.
It also creates the foundation for even more improvements, such as the Rational Assistant to get AI support for your negotiations.
Reach out to us for a talk about how you may benefit from the Negotiation Management tool.