Avasant’s Governance & Compliance services offer a solution for managing third party risk and vendor portfolios. Our Managed Governance Services (MGS) suite creates a simplified, structured, and cost effective way to maximize sourcing value. We provide best practice processes, automation, and state-of-the-art technology to enable organizations to better manage relationships, improve alignment with business strategies and promote operational transparency. Implementation of our methodology and proven recommendations significantly reduces the cost of governance.
Client Case Study
Increased transparency and alignment with third party vendors is increasingly difficult. One of the largest quasi-governmental bodies was experiencing this strain in governance capabilities. We identified core attributes missing from governance methods and partnered with them to establish their internal processes. Our services, supported by our proprietary technology tool, provides the client with access to real-time analytics, dashboards, and live support by a team of experts. Avasant enabled the client to identify savings of up to 25% across their IT Services portfolio and achieved 100% compliance with risk controls across all proactively governed contracts.
Manage Transformation PMO for ongoing value sustenance and support organizational change requirements.
Organizations today are increasingly burdened with the complexity of third party governance and compliance. The problem is further magnified by value leakage and challenges in achieving contracted goals.
Avasant’s Transition Management offers a solution for managing vendor portfolios to create a simplified, structured, and cost effective way to maximize sourcing value. We provide best practice processes, automation, and state-of-the-art technology to enable organizations to better enhance relationships, optimize business value and enable continuous improvement.
We provide trust and create win/win scenarios for both parties involved.
Optimized Business Value
We provide improved pricing and create better contracts that service strategic business goals.
Continuous Operational Improvement
We effectively monitor performance to expectations and drive improvements in quality and service.
Compliance & Risk Management
Rigorous performance management and governance initiatives can maximize the value a company derives from its efforts and prevent value leakage.
Global sourcing is an increasingly risky endeavor with unprecedented vendor management challenges. 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.
Implement effective SLA and Performance Management aligned with Business requirements.
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.
Contract Administration & Compliance
Contract Change Management
Renewals & Terminations
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.
Third Party Spend Analysis
Managing relationships is the key to success in an increasingly 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.
Vendor Communication and Governance Management
Third Party Risk Management
Issue and Dispute Management
Service Improvement, Continuous Improvement and Root Cause Analysis
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.
Avasant’s Managed Governance Services (MGS) is powered by the AvaSense™ governance platform. This SaaS-based vendor governance tool provides contract repository, document management, dashboards and analytical reporting, and best practices-based electronic process workflow functionality to enable effective management and governance of the entire sourcing contract lifecycle.
Get your reports in real time to make quick and confident decisions.
AvaSense™ advanced analytics and predictive capabilities provide you with intelligent suggestions to optimize your contracts.
Best practices-based workflow functionality ensures your data is accurate.
Dashboards, reports and analytics ensure visibility across the vendor portfolio with actionable information needed to make strategic decisions and mitigate third party risk.
AvaSense™ is the most comprehensive post-signature contract governance tool incorporating all vendor management competencies: Contract Management, Financial Management, Relationship Management and Performance Management.