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Procurement Market Intelligence Report

Flexible Spending Account Management Services Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Flexible Spending Account Management Services?

What is the average price of Flexible Spending Account Management Services?

This procurement report includes pricing information to help you purchase Flexible Spending Account Management Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Flexible Spending Account Management Services been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Flexible Spending Account Management Services yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Flexible Spending Account Management Services?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Flexible Spending Account Management Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Flexible Spending Account Management Services?

Among the estimated 25,000 providers of FSA management services, the top four operators account for less than 30.0% of total revenue, indicating a low level of market share concentration. Most operators are nonemployers servicing a narrow geographic region, so they lack the necessary resources to garner a large share of... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Employees

What are the various stages of your hiring process? What specialized skills do you require your employees to possess?

How do you recruit and retain senior staff?

How do you keep your wage costs under control?

What is the average tenure of your employees? Do you have trouble with turnover? How does that affect service delivery?

Vendor Financial Risk

Can I see audited financial statements to determine your company's financial health?

What happens to my contract in the event of your bankruptcy, going out of business, or sale of the business to another entity/company?

How do you adjust your operations in times of high and low demand? How do you mitigate demand volatility?

How diversified is your client base? Which industries drive the most business for your firm?

Timeliness

What are your primary metrics for internal quality measurement regarding timeliness? Is this data available to clients?

How often do you experience problems with response timeliness?

What checks and balances are in place to assure that the work is done on time without sacrificing quality?

Will dedicated personnel will be assigned to our account?

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Key elements for every RFP

What should my Flexible Spending Account Management Services RFP include?

Project Budget

Buyers should specify their budget for the FSA management software.

Buyers should include details about per user spending expectations.

Buyers should ask for related services that can be bundled together at a discount.

Buyers can reference the Benchmark Price and Total Cost of Ownership sections of this report for assistance with creating a budget.

Selection Criteria

Buyers should evaluate potential vendors based on their ability to meet the functional requirements described in the RFP.

Buyers should evaluate potential vendors based on their ability to provide a superior level of customer service.

Buyers should evaluate potential vendors based on their ability to provide regular enhancements and upgrades to comply with the newest PPACA.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers need to include the date when proposals are due and when the award will be announced.

Buyers should include key benchmark dates, such as the date by which training sessions should occur.

Buyers should outline the terms of the contract and their cancellation policy.

Evaluate major factors to mitigate risk

How risky is the Flexible Spending Account Management Services supply chain?

The supply chain risk for FSA management services is low. These services are labor intensive, so vendors rely little on material inputs to facilitate their operations. Instead, suppliers rely mostly on a pool of plan administrators whose wages fluctuate minimally from year to year. Still, vendors of FSA management services... Subscribe to learn more.

HIGH

MEDIUM

LOW