CoreTrust partnered with NPI to launch Fair Price Analysis (FPA), what is said to be a first-of-its-kind, scalable price and contract terms benchmark solution that delivers actionable vendor and category intelligence to IT and technology-adjacent spend areas.
“At CoreTrust, our mission has always been to simplify procurement while maximizing savings and value for our members,” says James Hallock, CoreTrust CEO. “By partnering with NPI, the FPA will give our members a tool they can’t find anywhere else; one with current market intelligence that transforms IT procurement from reactive purchasing to data-driven decision making.”
“This partnership with CoreTrust represents a powerful new way to scale the value of price benchmarking and procurement intelligence,” says Jon Winsett, CEO of NPI. “The Fair Price Analysis puts actionable, unbiased pricing insights directly in the hands of CoreTrust members, enabling them to negotiate with confidence, improve supplier relationships, and protect their bottom line against IT overspend.”
Key takeaways:
· NPI’s research indicates that companies overpay for 89% of their IT purchases. The primary culprits include unused licesnes; duplicate tools; auto-renewal traps; and lack of visibility.
· Available through CoreTrust's technology portfolio, NPI's FPA provides a neutral, third-party service that leverages proven methodology for identifying IT overspend and validating fair market pricing through independent, customized analysis.
· The FPA provides category-specific commentary, fair market value analysis, and tactical negotiation guidance to arm sourcing leaders with a streamlined process.
· With the FPA, CoreTrust members can gain unprecedented visibility into vendor pricing and category benchmarks for IT products, services, and software; leverage independent analysis to validate whether current or proposed vendor pricing and terms is market-competitive; identify opportunities to reduce costs and strengthen negotiation leverage with IT providers; and make faster, more confident purchasing decisions backed by trusted data and intelligence.
