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Procurement Market Intelligence Report

Riser 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 Riser Management Services?

What is the average price of Riser Management Services?

This procurement report includes pricing information to help you purchase Riser 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 Riser 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 Riser 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 Riser 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 Riser 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 ?

ProcurementIQ estimates there are about 6,500 firms providing riser management services in the United States. Market share concentration is low, with the top four firms collectively accounting for less than 20.0% of the market's revenue. Although the number of firms has been rising in recent years, acquisition activity has also... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Experience

Tell me about similar projects you have worked on in the past. What challenges did you face and how did you overcome them?

On average, how many years of experience does your staff have in this field? How does that measure up to the industry average?

What qualifications does your staff have and what measures do you take to keep those qualifications up-to-date?

What internal testing procedures do you use to ensure quality of the service?

What is your on-time completion rate for projects such as this one? What is your implementation plan?

Customer Support

Do you offer 24/7 customer account and technical support services?

Do you have response time benchmarks for following up with or problem solving for a client? How long does it normally take to follow up with service requests?

What is the typical size of your clientele? Where do we fit in?

What is your client renewal or repeat business rate? Why do companies renew their contract with your business?

Quality Control

How do you ensure the accuracy/quality of your service? What systems/tools/software do you have in place to minimize the number of errors? How often are these systems checked and updated?

What checks and balances are in place to be sure that my project has received a thorough evaluation?

Who completes these checks and identifies errors?

How do you balance quick turnaround times with maintaining maximum possible accuracy?

Amidst widespread health concerns, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Competition

What incentives do you give to long-term clients to stay with your company? Do you offer any incentives to firms that refer businesses to your company?

What is your client turnover rate? How long do your contracts last, on average?

Has your firm completed any acquisitions over the past three years? If so, how did this expansion affect your business model?

How do you market your services to potential clients? Do you rely heavily on repeat buyers?

Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased/reduced demand?

Regulation

By what methods do you stay informed about ongoing regulatory changes?

How have you adjusted to new regulations in the market? How have additional compliance costs been handled?

Do you have any third-party certifications beyond what is required by regulation?

Have you been marked for any violations in the past? How quickly did you remedy any violations?

Value-Added Services

What value-added services do you provide? How will including value-added services impact pricing?

Do you offer discounts for bundled services, and if so, what are the terms?

What partnerships do you have? How do your clients benefit from these relationships?

How have your value-added services affected the level of competition you face from other competitors? How do you differentiate your offerings?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should include as much information about the total scope of the project as possible. If buyers have a working estimate on the cost of the project, this can be included.

Buyers should include information about the payment schedule (i.e. if it is incremental or done at the completion of the project).

Buyers can consult the Benchmark Price section of this report to create an estimation of how much they should pay for installation or maintenance.

Selection Criteria

Buyers should specify what measures of quality they will be using to select a supplier. For example, these measures can be reputation, credentials of staff, customer service and depth of the technical plan submitted.

Buyers should choose a supplier based on the price estimate given.

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

Project Schedule

Buyers should include a deadline for proposal submittals and state when the contract will be awarded.

Buyers should include a timeline of the project.

Buyers should include any other benchmark dates that are relevant to the project.

Evaluate major factors to mitigate risk

How risky is the supply chain?

Suppliers of riser management services have been exposed to a moderate level of supply chain risk during the three years to 2020. Suppliers must purchase electronic parts and equipment on a regular basis. Therefore, suppliers are vulnerable to changes in the prices of electronic parts and equipment. Fortunately for market... Subscribe to learn more.

HIGH

MEDIUM

LOW