For a typical
company in our consortium, sourcing of non-strategic and non-core categories is
taking lot of valuable time and resources where it does not make sense to
develop or maintain the expertise in house. SMEC provides the economies of
scale, negotiating power, lower business costs, improves the process, improve
productivity, better practices, and reduces the cost of information, higher
quality and improved deliverability for these companies.
Economies of Scale
Large domestic and foreign companies can quickly scale to cater to the ever
changing business landscape. More often our members lose out in the business as
it is not economical to scale. Consortium role is to provide a platform to pool
resources and infrastructure to quickly scale.
Consortium can negotiate better and thorough contracts and terms with clients,
vendors and service providers. Consortium brings the collective wisdom and
strength of pooling which the individual player will lack. Consortium will
persuade the law makers, govt. agencies, financial institutions and other
institutions to protect the interests of our micro-segment.
Lower business costs
With collective bargaining power and with good business practices, business
costs in value-added services can be reduced. Also, the costs associated with
reinventing the wheel can be avoided.
Improve the process and productivity
Currently most of our time is spent in non-core business activities like reading
and bargaining custom contracts. Consortium improves working relationship among
members, rewards good behavior, enhances trust levels thereby simplifies the
process. Process simplification allows us to spend more time in our core
business activities. This improves our employee and business productivity
Improve compliance and reduce pain points
Compliance of labor, revenue and immigration laws is consuming tremendous amount
of both time and resources. Consortium will work with member companies to comply
with the laws.
Laws are lagging with time and do not reflect the realities of the market. Govt.
agencies fail to bring clear and uniform regulations leading to wide range of
practices and interpretations by government agencies, practitioners and
beneficiaries. Also, these practices and interpretations change with time
leading to lot of confusion. Consortium in association with other industry
players will work with legislators and agencies to stipulate clear and realistic
Consortium can help member companies to evolve better business practices through
sharing successful stories in our micro-segment.
Reduces cost of information
Business and legal landscape is ever changing. Consortium updates this
information to the members on a regular basis. Consortium will help members in
continuously educating members about the changes in the regulation, changes in
business trends and best practices.
Higher quality and improved deliverability
With improved process, better business practices, the quality of our services
increases. With increased trust levels among the members and enforcement, for
the end client it improves the quality and deliverability of the services.