Amy Fong is a Vice President in Everest Group's Strategic Outsourcing and Vendor Management practice. In this role, she advises enterprises on maximizing value from strategic provider relationships in outsourced services categories. She is a featured presenter at SIG’s upcoming virtual SIGnature Events taking place throughout the fall of 2020. Virtual SIGnature Events are free to all qualified buy-side practitioners and sell-side members.
What is your role and what are your day-to-day responsibilities?
I work with our procurement members to ensure they are getting the research and support they need to maximize value in outsourced services categories. We have 200 analysts focused on the outsourcing, global services and intelligent automation space. My role is to work across those content areas to bring it all together and ensure we’re helping procurement.
For instance, developing category strategy templates with the market intelligence we provide, facilitating briefings and peer discussions, and designing surveys that answer top of mind questions. I’m available to our members to answer their questions or guide them to the right expert analyst to dive deep into their challenges.
In the time of COVID-19, this also means helping procurement teams understand how service providers are reacting and what they can expect. Also, helping them identify cost takeout and risk reduction opportunities for the “next normal.”
What is something that you wish more people knew about sourcing and procurement?
Procurement has the opportunity to be a strategic partner to the business by harnessing the power of the supply base. Never has this been more true than now, when businesses are challenged. The partnerships we build can change our competitive direction. So much of this is about relationships and understanding and aligning objectives, and it exists on a foundation of visibility and agility.
Looking specifically at the outsourced services categories, many companies have an opportunity to improve their agreements and pricing while leveraging their service providers for more innovation and agility. Both cost reduction and innovation are possible, given the technology and partners available today.
In your opinion, what are three skills that sourcing and procurement professionals of tomorrow must have?
Collaboration – with suppliers, internal stakeholders and budget holders within their team
Fact-based analysis – not necessarily to gather data and generate the analysis, but to interpret it and recommend actions. Procurement must be gathering both external market insights and internal information and data to develop effective strategies.
Digital – we must be technology savvy. While we may not be implementing technology as a full-time job, we need to embrace a digital way of doing things. That means being accepting of change, and even building on the tools we put in place to drive innovative improvements internally and with our suppliers.
What does the future of sourcing and procurement look like to you?
I see procurement as playing a strategic role in harnessing the value of the supply base. That means enabling fast and fact-based decision making, finding the strengths of our suppliers and using them to differentiate our business, and mitigating risks. It also means making the acquisition process streamlined and fast for those with a need.
Procurement needs to be a business partner and not a gatekeeper. Most organizations I work with are well on the way but still have a long journey ahead to bring together all of the information, technology, capabilities, and relationships to be successful.
SIG's virtual SIGnature Events bring together sourcing and procurement leaders from Global 1000 and Fortune 500 organizations for a day of team training, learning and connecting. SIGnature Events are forums that facilitate best practices and build community so you can achieve your goals and make a difference every day. This is not just another webinar; it is a live online event. Join us!
Amy Fong is a Vice President in Everest Group's Strategic Outsourcing and Vendor Management practice. In this role, she advises enterprises on maximizing value from strategic provider relationships in outsourced services categories.
Amy has more than 20 years of experience in industry, consulting, and advising with a focus on procurement, supply chain and organizational effectiveness. She has authored numerous publications and speaks frequently on source to pay process improvement and managing complex supply chain partnerships. Prior to joining Everest Group, she was a Senior Advisor and Program Leader with The Hackett Group's Procurement Advisory Program. Previously she held various industry and consulting roles with Hewlett Packard, Sonoco Products Company, and Archstone Consulting. Amy holds an MBA from Vanderbilt University and a BS from Syracuse University.