Governance By Avasant
Take any vendor relationship to the next level with
increased efficiency and realized cost savings
Weak Vendor Management systems are problematic –enhanced operations and vendor master data management and processes improve operational efficiency
Proper classification and segmentation of vendors significantly reduces inefficiencies and delivers substantial cost savings
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
Establish the right vendor governance model and evolve organizational culture to support selective vendor management and strategic vendor management
Vendor Governance is increasingly essential to achieving overall business objectives by transforming into a strategic and proactive function that maximizes value realization and minimizes leakage. Avasant’s vendor governance services enable organizations to practice intelligent and informed decision making, thus elevating vendor governance as an integral part of overall business decision making.
Realize strategic business value through analysis and analytics from vendor governance as a service. Demonstrate cost savings and increased efficiencies by elevating vendor governance from a transactional activity into a strategic decision making capability. Contact an advisor to learn more.
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.
Create an integrated view to manage service providers by
contract and outcomes that align to business strategy and
Implement effective SLA and performance management
capabilities and ensure that outcomes are aligned
with business and contractual requirements.
Reconcile invoices, manage service credits/charge backs
earnbacks, control project/vendor spend, and perform
Effectively Manage relationships with vendors using
analytics, proactive vendor meetings to ensure
high end-customer satisfaction.
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
Avasant’s proprietary digital governance platform, AvaSense™, provides best-in-class vendor governance capabilities. With AvaSense, enterprises can realize the full value of their agreements with a cloud based tool that grants access to real time data, contract repositories, document management, dashboards, analytical tools, and process flows that enable effective management throughout the entire sourcing 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%
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.
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.
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.
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.