Join Ardent Partners and Seal Software on Wednesday, November 4 at 12:00 PM EST for this free webinar on Digging Deep: Leveraging Contract Analytics to Uncover Hidden Costs, Risks, and Opportunity, which draws on the responses of more than 300 Chief Procurement Officers and other sourcing leaders.
Contracts are an integral part of the supply management (or source-to-settle) process and the foundation upon which modern business relationships stand. Executed contracts codify the relationships between trading partners and serve as the documents of record between them. They protect both parties from a legal standpoint, specifying the price, terms, conditions, and service-level agreements (SLAs) to which the enterprise and its supplier agreed during the negotiation process. Utilizing effective contract management strategies and systems can help procurement departments streamline their processes and improve overall compliance to contract terms, conditions, and SLAs. In doing so, procurement teams are better able to mitigate and/or avoid any number of contract, supplier, and supply risks while also improving overall performance.
Yet many procurement and contract teams today fail to effectively leverage their contracts to capture the full value from their supplier relationships. Far too often, contracts are poorly maintained – not actively reviewed or managed and accessed only when a supplier dispute or performance-related issue arises. When procurement teams fail to enact proactive contract management strategies and do not establish enterprise-level visibility into supplier contracts, they constrain their ability to optimize the value of their supplier relationships. Specifically, these procurement groups are much more likely to struggle with:
- Tracking supplier performance and identifying related issues
- Avoiding or reducing savings leakage (the gap between identified savings and implemented savings)
- Ensuring price, process, contract, and regulatory compliance
- Communicating contract terms, conditions, and SLAs to internal stakeholders
- Tracking and reducing maverick spend
- Monitoring, and thereby avoiding, unacceptable levels of supply risk
The good news is that there are a number of strategies, processes, and solutions that can be deployed to help procurement groups “dig deeper” to avoid these issues and ensure that the value residing within their supplier contracts is realized.
Join Andrew Bartolini, Chief Research Officer at Ardent Partners, and Brian Wick, Vice President of Marketing at Seal Software, as they present the findings from one of our newest reports, Digging Deep: Leveraging Contract Analytics to Uncover Hidden Costs, Risks, and Opportunity. Attendees of this webinar will learn how contract analytics can help procurement teams:
- Uncover contract non-compliance
- Find hidden costs
- Leverage savings opportunities
- Track supplier performance issues
- Discover supply risks
Andrew and Brian will discuss how visibility into the above information within the framework of a contract analytics program enables procurement teams to convert contract intelligence into significant value.
Webinar registrants will also receive a complimentary copy of the new report.
Digging Deep: Leveraging Contract Analytics to Uncover Hidden Costs, Risks, and Opportunity
Date: Wednesday, November 4, 2015
Time: 12:00 PM – 1:00 PM ET
Webinar sponsored by Seal Software
Tagged in: Ardent Partners Research, Contract Lifecycle Management, Events, Innovation, Process, Solution Providers, Strategy, Technology
