Iconitel Consulting Services : Simplifying Research Portfolio Management

Joanie Olivier, Executive Partner
Most enterprise-level subscriptions solutions and services are purchased at the department and individual levels. Such decentralized nature of availing subscriptions makes it difficult to have visibility over different subscriptions in terms of usage cost and related metrics. In addition to the lack of transparency, organizations also face challenges in managing the myriad of vendors, contracts, and subscribers. "In a world where everybody within a company is a buyer, the challenges organizations are faced with is extreme and ranges from duplication in spend, over purchasing, price and contract inconsistencies and unconscious purchases."Mentions Joanie Olivier, Executive Partner of Iconitel Consulting Services.

Founded in 2003, Iconitel offers comprehensive subscription portfolio management services and purpose-built solutions. Working closely with clients, the company goes the extra mile to negotiate with subscription providers on behalf of its clients and haspartnered with more than 650 vendors to date. In total, the company has negotiated with over 1,200 individual subscription services, delivering immediate RoI for clients globally. "We apply our vast industry expertise and innovative technology to ensure that our clients' organizations have access to the research and data they need in a cost-effective manner," adds Joanie.

Iconitel offers AREUSConnect, a fully automated contract management software that streamlines the entire process of managing multiple subscription portfolios from end-user initiation to licensed contract management. It is a powerful, intuitive enterprise-wide research portfolio management and cost control solution, designed for subscription products. AREUSConnect consists of4 portals, each uniquely designed to address a specific need, with a common goal of driving efficiencies and transparency across the enterprise. As a turnkey solution, it automates all aspects of subscriber, subscription, and vendors management,allowing the AREUS user to track contracts, subscriber, renewals, and more, giving organizations a full-picture view to make informed decisions, streamline processes, ensure appropriate access and distribution, control costs and optimize investments.

In addition to an AI tool that can read contract indexes, the solution also has proxy auto-configuration (PAC) capabilities,APIs, and applications to easily transfer existing content into the application.
While providing a bird’s eye view of the subscription portfolio, AREUSConnect further mitigates contract risk through its alerts module, calendar integration tool and the deployment of DoiComply (Iconitel’s compliance tool). Several functional reports allow for easy tracking and reporting of budgets, usage as well as trend analysis.

Iconitel’s services portfolio includes all aspects of contract lifecycle management, information audit, contract negotiation, contract management and price benchmarking. Information auditing provides a comprehensive assessment of all subscription’s information services,data flow, to review within the context of the organization's research objectives and contract obligations.

Joanie shared an instance where Iconitel was approached by one of its clients to assist with the organization of a specific vendor portfolio. The accumulative spend reached over 23 individual contracts with a contract value of more than $1M. The all up view of the contracted products and services, presented as significantly underutilized from a seat and product perspective. Iconitel consolidated all the documents into a single agreement, helping their client save about a quarter-million dollars due to portfolio normalization. The company also helped the client reduce up to 25% on the per-user cost.

The credit of such problem-solving and innovative capabilities goes to the dedicated team of Iconitel, the majority of which is coming from a strong research background. The team of experts at the company possesses deep knowledge and understanding of all market verticals such as management consulting, consulting services, Pharmaceutical, IT, and anything in between.

The value proposition that the company delivers can be vouched for by the fact that most of its clients come through word-of-mouth advertising. Successfully packaging accessibility, visibility, and transparency in its offerings, the company stands true to its slogan, "Fundamentally Changing the Future," by continuously introducing newer products and spreading awareness and transparency in the industry. The future looks promising for Iconitel.

Company
Iconitel Consulting Services

Headquarters
Cary, NC

Management
Joanie Olivier, Executive Partner

Description
Iconitel offers a unique and creative solutions, ranging from comprehensive research portfolio management to automated software solutions. Iconitel offers AREUSConnect, a fully automated contract management software that streamlines the entire process of managing multiple subscription portfolios from end-user initiation to licensed contract management. It is a powerful, intuitive enterprise-wide research portfolio management and cost control solution, designed for subscription products. AREUSConnect consists of4 portals, each uniquely designed to address a specific need, with a common goal of driving efficiencies and transparency across the enterprise. As a turnkey solution, it automates all aspects of subscriber, subscription, and vendors management,allowing the AREUS user to track contracts, subscriber, renewals, and more, giving organizations a full-picture view to make informed decisions, streamline processes, ensure appropriate access and distribution, control costs and optimize investments

Iconitel Consulting Services