Our DirectSource service allows multiple member companies to combine their spend in a collaborative sourcing process. The sourcing activity is funded either through the CoVest supplier rebate model, not requiring any upfront cost on the part of our members; or on a shared fee basis among participating members.
Through a seven-step strategic sourcing process, members participate in milestone reviews such as RFP review, negotiations strategies and supplier selection. CoVest then develops a ‘frame agreement’ with the selected supplier or suppliers. Members develop a separate agreement with the supplier(s), which incorporates the frame agreement and covers special terms and conditions applicable to them.