Achieve the Full Value of your Sourcing Agreements
If not closely monitored, complex contracts can result in value leakage through several factors. These include a lack of governance, poor reporting, and miscommunication. Avasant’s proprietary SaaS platform AvaSense™ provides best-in-class vendor management and governance capabilities. Role-based, data driven, client configurable, and built for the cloud, AvaSense provides a contract repository, document management, dashboards, and analytical reporting to enable effective governance of the entire post-signature contract lifecycle.
Access reports and data in real time to make quick and confident decisions
Automated workflows enable governance maturity
Advanced analytics and predictive capabilities provide insights to optimize contracts
Reduce Value Leakage by 15-30% and governance costs by up to 50%
AvaSense™ Full-Service Contract Governance
Our Contract Management services enable our clients to review and monitor the crucial components of their contracts. This ensures effective change management and compliance with deliverables, obligations, renewals, terminations and exceptions. Our methodology promotes consistency of service outcomes, governance discipline, and compliance at all stages.
CONTRACT ADMINISTRATION & COMPLIANCE
CONTRACT CHANGE MANAGEMENT
RENEWALS & TERMINATIONS
Avasant’s Performance Management service provides organizations with transparency and helps to align vendor management to business objectives and outcomes. Our service triggers alerts of any issues or conflicts across service level metrics, thus reducing value leakage and enabling proactive risk management.
Avasant’s Financial Management services help organizations reconcile invoices, capture discounts and credits, and gain greater transparency in demand management and total spends across all vendors. This is achieved through a workflow-based approach to financial management, analytics and dashboards.
THIRD PARTY SPEND ANALYSIS
Vendor strategy misalignment typically results in about 10% to 20% deterioration of the desired value. AvaSense™ Relationship Management services provide organizations with increased transparency in vendor relationships. By organizing and structuring communications with vendors, the quality of the relationship is greatly improved.
VENDOR COMMUNICATION & GOVERNANCE MANAGEMENT
THIRD PARTY RISK MANAGEMENT
ISSUE AND DISPUTE MANAGEMENT
SERVICE IMPROVEMENT, CONTINUOUS IMPROVEMENT & ROOT CAUSE ANALYSIS
One of the largest quasi-governmental bodies experienced a strain in ensuring transparency and alignment with third party vendors. We identified core capabilities missing from their governance methods and partnered with them to establish their internal processes.
AvaSense™ provided the client with access to real-time analytics, dashboards, and live support by a team of experts.
As a result, the client identified savings of up to 25% across their IT services portfolio and achieved 100% compliance with risk controls across all proactively governed contracts.