Procuring Managed Services: A Guide For Executives


As an executive within finance department, powering up your organisation’s operations through the strategic procurement of managed services presents challenge. Navigating the ever-evolving service landscape, choosing the best solution and making the most of the decision in the long run can be daunting task. This guide is designed to cast light on the matter and provide you with the needed insight.

Step 1: Research

Before making decisions regarding managed services, it is essential to gain good understanding of the current market. Do your due diligence to make sure you are aware of all of the different services that may be suitable. Research the offerings online and read independent reviews to ensure they meet your expectations. Have conversations with thought leaders, peers and industry experts to get informed opinions and understand the pros and cons of services you are considering.

Step 2: Shortlist

Create clear set of criteria for potential managed services providers, and identify those which fit your organisation’s needs. This should include cost, scope of services, scalability and if you would like to have flexibility in the long run. You should also review the service providers’ technical capability in terms of execution, customer support, utilising technology and aligning with industry compliance regulations.

Step 3: Evaluation

At this point of the procedure, you should have shortlist of services which fulfil your requirements. Hold meetings and talk to the people involved with each service or provider that you have identified. This will help you to make an informed decision and assess the quality of the service before committing to procurement.

Step 4: Contract Negotiation

Before signing the contract, and agreeing to ensure the procurement of managed services, it is vital to understand the terms of the agreement and ensure they meet the expectations of both parties free yourself any unwelcome surprises. If required, seek legal support throughout this process.

Step 5: Implementation

Now that you have enforced the procurement of managed services, ensure they are correctly implemented and meet your expectations by running regular assessments. Regular audits and feedback systems should ensure the best fit for your organisation are in place long-term.

In Summary

To secure the best outcome from procurement of managed services, it is vital to equip yourself with the knowledge needed to make an informed decision. Research the service landscape and their offerings, review potential service providers, negotiate the contract and ensure its implementation for the best results.