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CoVest DirectSource Services

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.

DirectSource helps your company:

  • Leverage the combined spend of multiple members for favorable pricing
  • Avoid the time and effort to source the category internally
  • Participate in a sourcing approach that utilizes leading strategic sourcing processes and technology yielding optimal results

DirectSource can be applied to any set of our members’ categories—direct or indirect—that have:

  • Some consistency of product or service requirements across the companies
  • Common product/service set of potential suppliers
  • Low degree of competitive sensitivity associated with the category 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.