Governance, Risk & Compliance
Increase value and accountability while optimizing sourcing spend across the vendor ecosystem.
Managed Governance Services (MGS)
Avasant Managed Governance Services (MGS) provides best in class vendor management and governance capabilities.
Complex contracts and hybrid operating environments can, if not closely monitored, result in value leakage through a plethora of factors including inadequate governance, poor reporting, and communication breakdowns. Avasant’s Managed Governance Services (MGS) provides best in class vendor management and governance capabilities delivered as a managed service – powered by a proprietary SaaS platform that provides contract repository, document management, dashboards and analytical reporting, and best practices-based digital process workflow functionality – to enable effective management and governance of the entire post signature contract lifecycle.
Avasant’s Managed Governance Services (MGS) is powered by the AvaSense™ governance platform to enable effective management and governance of the entire sourcing contract lifecycle.
The Avasant MGS solution delivers comprehensive vendor governance capabilities:
Contract Management
Valuable information relating to day-to-day operations are lost within the plethora of clauses in third party agreements. Pay as you use models of service are further complicating the ecosystem. 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.
Financial Management
Monitoring the management of the financials associated with sourcing contracts is vital to achieving the business value envisioned during contract inception. Poorly managed sourcing financials leads to value leakage and erodes the expected gains associated with sourcing contracts. 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.
Relationship Management
Managing relationships is the key to success in a complex outsourcing environment; business strategy – vendor strategy misalignment typically results in about 10 to 20% deterioration of the desired value. Fostering healthy and mutually beneficial relationships with your sourcing vendors is imperative. Avasant’s Relationship Management services provide organizations with increased transparency in vendor relationships. Through communications governance, our experts promote better vendor relationships.
Performance Management
Managing vendors through service level agreements and performance indicators is essential to ensuring you are receiving full value from your engagement. Aligning these performance metrics with overall company and business strategy also is critically important. In order to measure performance, there must be a strategy in place. 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.
Compliance & Risk Management Solutions
Rigorous performance management and governance initiatives can maximize the value a company derives from its efforts and prevent value leakage.
Complex contracts and hybrid operating environments can, if not closely monitored, result in value leakage through a plethora of factors including inadequate governance, poor reporting, and communication breakdown. Avasant’s Value Leakage Rapid Assessment (VLRA) approach enables a quick, painless and affordable approach to identify exposures to value leakage in your outsourcing relationship(s).
Are you receiving the full value of your sourcing contracts? View our Value Leakage Rapid Assessment PPT deck here.
Contact us to learn more about Avasant’s VLRA.
Transition Management Solution
Transition management enables effective services implementation and organizational change management, and sets the stage for positive vendor relationships and ongoing value sustenance.
Today, organizations are increasingly burdened with the complexity of third party governance and compliance. Complex service contracts and hybrid operating environments can, if not properly implemented, result in value leakage through a plethora of factors including inadequate governance and poor reporting and communications that lead to challenges in achieving expected business goals, contracted outcomes and value leakage.
Avasant’s Sourcing Transition Management solution provides a simplified, structured and cost effective way to successfully implement sourcing programs. Based on proven best practice methods and processes and combined with state-of-the-art technology, our Sourcing Transition Management solution helps organizations to establish better contract relationships, maximize sourcing value, and enable continuous improvement.
Contact Us
James Lee
Governance, Risk & Compliance Global Practice Lead
Avasant