Press Release: Bounteous Recognized in “Future Fit” Report by Leading Research Firm
Bounteous cited as one of three vendors who pursue flexible types of contracts
CHICAGO — April 5, 2023 — Bounteous, the digital innovation partner of the world's most ambitious brands, has been mentioned in a recent Forrester Research report, “Harness Future Fit To Deliver In A Constrained World,” which examines how technology executives can apply the lessons of Forrester’s Future Fit strategy to optimize in today’s constrained economy while laying the foundation for recovery.
The research highlights the importance of structuring contracts and teams effectively in order to achieve maximum outcomes and savings, recommending that companies seek outcome or performance-based partnerships to drive alignments. It references how, “Time and materials — particularly in deals at the lowest hourly rates — rarely give you the results you’re looking for. And layering on penalties misses completely on the carrot side of incentives. It’s better to set aside a portion of the payment as a “swing fee” — the potential for margin-boosting (for them) upside of roughly 7% for overperformance against outcomes and a margin-crushing 10% downside for misses. You can pull this off with co-innovation partners, particularly if you can orchestrate the internal resources to ensure carrying your part of the project bargain. Providers as varied as Bounteous, Cognizant, and Deloitte pursue these flexible contracts.”
"Even before the economic downturn, Bounteous has been structuring outcome-based partnerships, believing that all sides must be invested in order to facilitate true co-innovation and collaboration,” said Fred Faulkner, VP of Strategic Marketing at Bounteous. “This is paying dividends now as our clients can leverage flexible, blended teams, quickly reallocate resources, and continue digital innovation through budget changes. We’re excited to be mentioned in a Forrester report for what we consider to be our commitment to our clients’ success.”
The report is available online to Forrester customers or for purchase here.
Founded in 2003 in Chicago, Bounteous is a leading digital experience consultancy that co-innovates with the world's most ambitious brands to create transformative digital experiences. With services in Strategy, Experience Design, Technology, Analytics and Insight, and Marketing, Bounteous elevates brand experiences and drives superior client outcomes. For more information, please visit www.bounteous.com. For more information about Co-Innovation, download the Co-Innovation Manifesto at co-innovation.com.