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 regulations.
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.