Compare fee-for-service expenses, understand vendor use trends, and view how much specific organizations spend on vendorsIn this help article...
Understanding how much relevant organizations spend procuring products and services gives you insights that are helpful when creating winning proposals. Additionally, comparing fee-for-service expenses of peer organizations helps you understand how your clients' service expenditures match up against similar organizations. That's why Cause IQ has tools and features to help you view and compare vendor fees for organizations, including changes over time. Cause IQ customers use:
Cause IQ's "Benchmark" tool is used to generate custom reports that compare fee-for-service fields for up to 250 organizations at once. These reports help Cause IQ customers run pricing analysis to support proposal development and client services, by comparing client vendor fees to their peers. Here are the general steps:
Since you're looking to compare fee-for-service expenses for organizations, choose "Organization details" as your benchmark type.
In the "Benchmark type" step, you have the option to include a baseline reference organization in your custom report. You can pick a reference from the organizations you're benchmarking, or search for one by:
If you're looking to compare fee-for-service expenses for a prospective client that you're creating a proposal for or a current client to its peers, this is where you select the appropriate organization as the reference.
The "Fields and analysis" step is where you choose the fee-for-service expenses that you want to compare the organizations by.
Select "Next: Generate report," and Cause IQ will start creating your custom benchmark report.
You can package your benchmarked information in an Excel file by clicking "Download to Excel" on the right of the screen. This file lets you share your benchmark report with colleagues and view how the selected fee-for-service expenses have changed over the years.
The "Benchmark" tool is a part of Cause IQ's Benchmarking Add-on. If you don't have access to the "Benchmark" tool, and are interested in adding it to your subscription, please contact support by clicking on the orange chat widget at the bottom right-hand corner of the screen.
Cause IQ's "Analyze" tool automatically summarizes the quantitative and qualitative characteristics of organizations. Many Cause IQ customers add fee-for-service expenditure fields and frequently used vendors to the "Analyze" tool so they can view trends on how much organizations spend on services and which firms they use most.
The screenshot below shows how the "Analyze" tool summarizes fee-for-service fields and vendor fields. The histogram graph helps you understand how much the relevant organizations spend in a specific service industry, and the list shows you which firms the organizations use most.
Cause IQ customers use the "Table" view to quickly see the most recent fee-for-service expenses for organizations in their target market and organizations they've added to a peer list (manually or from an uploaded CSV). With the "Table" view, you can compare how much organizations spend in specific service industries and easily identify which organizations spend the most by sorting them by column header.
To use the "Table" view, click on the "Table" tab from the search interface and choose the fee-for-service fields you want to add as column headers. To sort the organizations, click on the appropriate column header, and Cause IQ will show which organizations spend the most money in the selected service industry. Here's a look at the "Table" view and how you can sort organizations by specific fee-for-service expenses:
In addition to selecting fee-for-service expenses as column headers, many Cause IQ customers add vendor fields (e.g., Tax preparer firm, IT products used) to the "Table" view. This helps them understand which companies relevant organizations use.
With Cause IQ's "Analyze" tool and "Table" view, you can add fee-for-service fields by multiple metrics. The metrics available include:
The "Vendors" tab, on Cause IQ's organization profile pages, lets you view all the identified service providers the given organization uses. The information available within the "Vendors" tab includes the:
Here's a look at the "Vendors" tab on an organization's profile and the information that's availble to view.
Since Cause IQ gets vendor details from a variety of sources, not all identified vendors have the "Amount paid" field available. Cause IQ has the "Amount paid" information for the five highest compensated independent contractors that receive more than $100,000 from the organization. We also have amount paid information for certain types of 5500 vendors.