So, what’s the difference you might ask, between Velocity Sourcing Group and Velocity Procurement? Simply put, you asked us for more, and we delivered. Many of you that know us, know that we grew this firm from our strategic sourcing roots. Prior to founding the firm in 2007, each of the co-founders, Maulik and I, delivered sourcing savings projects across various industries.
Naturally, as the firm took shape, we’re driven by our mission to deliver services on the strategic sourcing platform. Our approach was to help companies realize savings at a much faster rate (we’ll talk more about speed later), and that model to deliver projects more efficiently was key to our early success. We continued to work with clients in multiple ways, including spend analysis, opportunity assessments, category sourcing, eSourcing and reverse-auctions. During this phase, it was easy to see that Velocity was a sourcing consulting practice in the making, and we loved it. Saving our client’s money was pretty cool too (wink).
Over the years, as trusted advisors, our clients started to bring us into other areas of their procurement business. One early client expanded our program from sourcing to help them assess their procurement function, everything from the policy and process to the people and technology. Another client enjoyed our work on various sourcing projects so much that they then brought us to lead the acquisition of their ERP and SaaS procurement platforms. This then led us to source-to-pay solution implementations and procurement transformation projects that then expanded our services into change management and training delivery. Of course, all centered on, yes you guessed it, Procurement.
In the recent years, as we worked on more transformational projects in procurement, especially source-to-pay solution implementations, clients were in need of extended support to sustain these program transformations. Since we were already a trusted partner, we were motivated by one client to begin providing operational services, which started with remote P2P support by our new center-of-excellence (COE) operation in Philadelphia. Now we have evolved to now include all procurement services, you, the clients, have made it clear Velocity can deliver you the procurement expertise you need, and we can deliver it the way you want it. A la cart procurement services, working as a partner.
So, you can see that the rebranding makes perfect sense. We are a procurement services provider, so it was just a matter of making it official.
Oh yeah, we have a tagline too. It’s really not new, but rather we are making it official. Both then and now, our brand focus is based on three principles:
Velocity Procurement’s mission is to deliver world class business processes and solutions, quickly and effectively, which enhances our customer’s procurement functions and drive cost savings.