Eliminate risks with good contract management
In most organisations, at least 50% – and in some cases up to 80% – of spend is under contract. But all too often, there is little in the way of formal contract management arrangements, and contracts are filed in multiple locations with no central view.
There are a number of risks with such informal arrangements. It's estimated that up to 75% of the savings achieved by sourcing exercises are lost within the first 18 months without robust contract management arrangements, while off-contract spend goes unchallenged. It also leaves the organisation open to risks of service delivery failure and fails to generate the additional value that comes from strong supplier relationships.
100+
high risk contracts with a client assessed and summarised and mitigated all potential issues
20%+
savings unlocked in an existing client contract through detailed assessment of commitments against deliverables
How we support you
We have supported a number of financial services clients in assessing and mitigating risks within their existing contracts. Following this we then reengineered the contracting model to provide future maximum value.
We can support good contract management in a number of ways:
01
by reviewing existing arrangements, and developing best practice process to support a corporate approach to contract management
02
by assessing contracts and identifying opportunities for cost savings
03
through supplier engagement programmes and developing performance monitoring arrangements
04
through the provision of eProcurement technology to create central repositories of contracts and provide management information
How it works
We work with organisations to harness existing contract management activity and build on it to create governance and management processes that are tailored and effective.
Our audit and review process then puts in place the foundations for continuous delivery of improvement and savings.
Our thinking
How can we help your organisation progress?
Get in touchExplore related solutions
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Procurement transformation
We understand what good looks like, and are helping clients create systems and structures that put procurement at the heart of the organisation.
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Opportunity assessment review
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02
Category planning and strategy assessment
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03
Savings delivery
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