Soin Recent News
- Soin International, LLC Award for Innovation
- A Perfect 10
- CTech signs alliance with AdvancedMD Software, Inc.
- Corbus Achieves CMMi Level 5 Certification
Soin International, LLC Award for Innovation
The Soin Award for Innovation is designed to identify, honor and financially assist a company in the Dayton region which is demonstrating the historical innovative spirit of our community. The award recipient will best demonstrate this entrepreneurial spirit through a recently introduced or pending introduction of a unique product or service that will have the ability to sustain long-term growth for the company, increase local employment and assist in the creation of economic prosperity within the region.
A Perfect 10
As the indirect procurement outsourcing market posts double-digit gains, the top service providers are the go-to vendors for the industry.
To date, procurement outsourcing has been the small fry in the value meal of FAO—not necessarily small in numbers but small in recognition. However, as more companies look for ways to cut costs, procurement outsourcing is becoming one of the best options.
Compared with FAO, procurement has a bigger financial impact on the bottom-line. According to analysis from the Everest Research Institute, managed procurement services as a percentage of sales has a financial impact of 0.5 to 2 percent, while overall FAO is estimated at 0.2 to 0.6 percent.
The most lucrative savings are in indirect procurement. Everything including the kitchen sink can be managed externally. These include office supplies and equipment; global travel; maintenance; repair and operations; HR benefits and services; marketing and advertising; printing services; facilities and property services; IT hardware and software; temporary labor; telecom and network; business and professional services; capital equipment; utilities and energy; and others.
Provider manage multiples phases of internal purchasing for different spend categories but mostly the procure-to-pay phase. According to Forrester Research, a procurement deal involves a long-term agreement, typically more than 18 months; vendor acceptance of accountability for outcomes; and the transfer of responsibility. There are different options in procurement outsourcing—a provider can source goods for the client, administrate electronic tools used by suppliers, or mange specific purchasing tasks.
Corbus is one of the top ten procurement companies.
Corbus, an SEI CMMi level-5 company, is a leading global IT and supply-chain services and solutions provider. Established in 1994, Corbus focuses on building long-term relationships and is a leader in the field of managing offshore model of supply chain management with a decade of experience of being associated with world-renowned organizations. Its facility in India is manned with experts in the field who have an ability to procure for clients based in the U.S. and U.K. from a global network of suppliers in cost-saving markets of Asia and an existing supplier base in the U.S. and Europe. Corbus’ supply-chain service offerings are designed to keep in mind that global competition and price depreciation will maintain pressure on the client to reduce costs and improve operational efficiency.
- Deals to Date:
- Source to pay: responsible for managing a complete spend for clients over source to pay; Analyze to Contract: supports clients in identifying the best source of supply and helping them in the process of awarding the contract for supply; Procure to Pay: Under these engagements, Corbus is supporting clients in managing day-to-day transactions over procure to pay.
- Largest clients are OEMs (original equipment manufacturers) and Fortune-listed companies in the areas of aerospace, automotive, and telecom.
- Consulting: client support in “opportunity discovery and assessment” of an outsourcing initiative to create a report and road map for outsourcing and help streamline current processes in accordance with global best practices; Managed services: manage the procurement process from source to pay to helping reduce process cost and bringing operational efficiencies (guaranteed 20 percent cost reduction in process cost by leveraging the Corbus global delivery model); Low-cost country sourcing (LCCS): in sourcing from low-cost countries to deliver assured product cost savings with reduced cost of sourcing by working as an extension of client offices in low-cost country sourcing.
- Most Common Metrics:
- Cost reduction/deflation, quality, delivery, and service delivery turn around time.
CTech signs alliance with AdvancedMD Software, Inc.
CTech has signed an alliance with AdvancedMD, a leading web-based product for Physician Office and Billing Office Management. With over 5 years of development and more than $15 million invested, AdvancedMD's software system has the best workflow and feature set of any web-based product available. AdvancedMD Software, Inc. is a privately held company with headquarters located in Salt Lake City, Utah. The company's primary owners are Dominion Ventures and Windward Ventures, both out of California, and Hunter Capital of Park City, Utah.
Corbus Achieves CMMi Level 5 Certification
Corbus, LLC, a leading global IT and Supply chain services and solutions provider, today announced that it has successfully achieved the highest level of maturity – SEI CMMi level 5 for its delivery center operation in Noida, India. The assessment was carried out by KPMG, one of the world's leading assessment bodies. According to the SEI website, there are just 78 companies globally who have achieved this highest standard in software engineering.
The certification is a significant milestone for Corbus, reinforcing its total commitment to provide software development and application support services to its clients by enhancing group performance at an organizational level and involving complete lifecycle activities of project management, requirement specification, analysis, design, development, testing, implementation and maintenance.
"This milestone has established the company as a quality provider of systems engineering, software engineering and IT services. It has also improved our ability to work-out better cost, time to market, performance of professional staff, and quality of product, contributing significantly towards reducing risks in project completion", said, Mr. Rakesh Mittal, President & COO, Corbus.
Congratulating the employees on this significant achievement, Mr. Mittal further adds, "In the future, we will continue striving hard for improving and maintaining world-class methodologies, processes, and quality practices in our operations."
Mr. G P Rastogi, Lead appraisal, KPMG, commented, "It is a pleasure to be associated with Corbus in their journey towards achieving this landmark. Corbus’ operation, and its clients, will continue to benefit from their focus on process improvement and will integrate their experience and lessons learned into its processes on an ongoing basis."
Mr. Rajesh Soin, CEO & Chairman, Corbus, LLC, commented, " It is a journey and not the destination. Corbus will continue to work towards achieving Global Standards and World-Class processes, thus providing immense benefits to all our global clients."
Further, to meet the growing demands of the industry, Corbus expects to grow revenues to $100 million by the year 2007, through a combination of strategic acquisitions and adding more value to our existing client engagements. Corbus also plans to increase its headcount to 2500 from the present 500 employees.
About CMMi Level 5
Capability Maturity Model® Integration (CMMI) is a process improvement approach that provides organizations with the essential elements of effective processes. It can be used to guide process improvement across a project, a division, or an entire organization. CMMI helps integrate traditionally separate organizational functions, set process improvement goals and priorities, provide guidance for quality processes, and provide a point of reference for appraising current processes. By clicking on the site below you can find more information about CMMI, and the worldwide adoption and benefits of CMMI. http://www.sei.cmu.edu/cmmi/general/general.html