DRIVE BUSINESS VALUE THROUGH STRATEGIC VENDOR GOVERNANCE
Improve Operational Vendor Management
Weak Vendor Management systems are problematic –enhanced operations and vendor master data management and processes improve operational efficiency
Practice Proper Vendor Segmentation
Proper classification and segmentation of vendors significantly reduces inefficiencies and delivers substantial cost savings
Align Vendor Segments to Business and Technology Objectives
Investing in strategic vendor collaboration and management can reduce operational costs significantly, and reduce immediate and long-term costs by proactively managing towards desired outcomes
Realize Efficiencies Through a Strategic Governance Model
Establish the right vendor governance model and evolve organizational culture to support selective vendor management and strategic vendor management
AVASANT’S VENDOR GOVERNANCE SERVICES EMPOWER CLIENTS TO:
LEVERAGE OUR EXPERIENCE AND SOLUTIONS TO GUIDE YOU TOWARDS THE RIGHT
VENDOR MANAGEMENT SOLUTION FOR YOUR ORGANIZATION
Enable proactive and flexible ESG vendor management to validate the ethics of your
organizational partners and vendors to maintain an optimized ESG footprint.
Utilize self defined risk criteria to evaluate and create your own ESG focus.
Proactively Manage Environmental Social
Governance Planning and Other Strategic
Vendor Portfolio Strategies
Create an integrated view to manage service providers by
contract and outcomes that align to business strategy and
Effectively Manage Contracts
Improve Vendor Performance
Implement effective SLA and performance management
capabilities and ensure that outcomes are aligned
with business and contractual requirements.
Improve the Management Of
Vendor Based Financials
Reconcile invoices, manage service credits/charge backs
earnbacks, control project/vendor spend, and perform
Improve Strategic Relationships
Effectively Manage relationships with vendors using
analytics, proactive vendor meetings to ensure
high end-customer satisfaction.
Manage and Reduce Vendor Risk.
Manage risk across all four dimensions of contract performance,
finance, and relationship governance, and increase insights
into third party risk elements including operational, financial
and reputational risk
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%
Real Time Vendor Management Dashboards
Contract management dashboards enable clients to review and monitor the crucial components of their vendors and contracts. This ensures effective change management and compliance with deliverables, obligations, renewals, terminations and exceptions. Promoting consistency of service outcomes, governance discipline, and compliance at all stages.
Vendor Performance Management Dashboards
AvaSense’s performance management capabilities provide organizations with transparency and helps to align vendor management to business objectives and outcomes. Alert triggers actively alleviate issues or conflicts across service level metrics, thus reducing value leakage and enabling proactive third-party risk management.
Financial Management Dashboards
Real-time financial management dashboards give enterprises the ability to 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 and analytics.
Risk and Relationship Management Dashboards
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.
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.
25% Savings + 100% Compliance