Chicago, Illinois-based IT services company, CoSourcing Partners is not your usual talent-hunting agency. The company is a leader in boutique IT project staffing and consulting operating mainly in the healthcare sector. CoSourcing and its dedicated staff understand today's war for talent as the business environment is constantly evolving. For enterprises and Fortune 2000 companies seeking to gain competitive advantage over its peers, CoSourcing delivers strategic and technology consultants which increase the opportunity for companies to successfully complete their projects, while decreasing total talent and technology expenditures.
President & CEO, Scott F. Upp, Jr. founded CoSourcing in 2011 following years of experience he gained from working by his father’s side. Now, nearly six years later, the healthcare IT consultancy firm is debt-free and constantly increasing its client base. Even more so, the company has grown by more than 100 percent year-over-year since its foundation and as part of the growth strategy has expanded its reach to the telecommunications, financial services and supply chain sectors.
“Aside from the traditional IT project staffing and consulting services, we also offer solution focused operational assessments and robotic process automation (RPA) implementations,” Upp explains that “RPA can take as little as four weeks to implement within an organization. In contrast, CoSourcing’s operational assessment can be developed and integrated in between 15 to 20 days, from where, a more structured plan of action can be developed and automation can begin to be pushed out into the client organization.”
When CoSourcing initially integrated its RPA tools toits healthcare clients, the pilot program proved successful and showed that the company is able to provide process assessments that analyze RPA’s potential and identifies the current processes within the organization, whereby the client receives clear understanding and recognizes the economic value of RPA. It is important to note that the Return on Investment (ROI) is less than a year.
CoSourcing and its dedicated staff understand today's war for talent as the business environment is constantly evolving
RPA proves to be quite efficient. Upp tells us that “one of CoSourcing’s clients, a regional healthcare provider, allowed RPA to input and submit claims. This resulted in reduced overall average turnaround time by19 days. In turn, the cash flow improved by 63 percent for $3 billion in revenue. Moreover, the outcome yielded an average $23.43 per claim of increased revenue,” Upp adds saying that “this is due to the faster generation of revenue compared to the industry. Even the organization’s credit rating improved.”
This year CoSourcing is aiming to pass another important milestone – the rollout of RPA as a tool for key and strategic managed healthcare clients. Upp explains that “CoSourcing’s Award-Winning IT project staffing and consulting practice has identified the universe of RPA talent and strategic investments are made in RPA Subject Matter Expertise, Architects, Analysts and Developers.” He continued adding that “these strategic investments include adding an IT transformation process expert who led HP’s Enterprise Service organization over the last 20 years with the last 4 years focused on building and delivering RPA solutions to Fortune 100 companies.”
CoSourcing’s RPA team has developed a successful tool with rapid ROI where the client will have a proof of concept within 60 days. The company is also working on a next generation workforce audit application - a zero-cost entry application which will allow organizations to reduce client labor costs immediately, while generating greater transparency and minimizing business risks.
“Wherever the future takes up-the client will be at the center of CoSourcing’s thinking. We invest many resources in customer insights and our goal is to build our organizational capabilities so we can continue creating breakthrough IT services that will surprise and thrill our clients across the country,” Upp concludes.