Avasant’s Governance, Risk & Compliance services offer solutions for managing vendor portfolios, spend and services, and third party risk. Our Managed Governance Services (MGS) suite provides a simplified, structured, and cost effective way to maximize sourcing value. We provide best practice processes and state-of-the-art technology and automation to enable organizations to improve alignment with business strategies, promote operational transparency, and better manage relationships. Implementation of our methodology and proven recommendations significantly reduces the cost of governance.
Client Case Study
One of the largest quasi-governmental bodies was experiencing 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. 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.
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.
Create an integrated 360 degree view to manage service providers by contracts and outcomes that align to business strategy and mitigate risks.
Implement effective SLA and performance management capabilities and ensure that outcomes are aligned with business requirements.
Reconcile invoices, manage service credits/charge backs, control project/vendor spend, and perform financial analyses.
Effectively manage relationships with vendors using analytics, ensuring high end customer satisfaction.
Manage risk across all four dimensions of contract, performance, finance, and relationship governance.
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.
Advanced analytics and predictive capabilities provide you with insights and intelligence to optimize your contracts.
Best practice governance processes and automated workflows ensure your data is accurate and consistent.
Dashboards, reports and analytics ensure transparency and visibility across the vendor portfolio with actionable information needed to make strategic decisions and mitigate third party risk.
Access reports and data in real time to make quick and confident decisions.
Avasant’s MGS powered by AvaSense™ is the most comprehensive post-signature contract governance solution incorporating all vendor management competencies: Contract Management, Financial Management, Relationship Management and Performance Management.
The Avasant MGS solution delivers comprehensive vendor governance capabilities:
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 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.
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.
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.
Implement effective SLA and Performance Management aligned with Business requirements.
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.
We provide trust and create win-win scenarios for all parties involved.
Optimized Business Value
We provide operational alignment and transparency of deliverables and obligations to realize the full value of contracts to achieve strategic business goals.
Continuous Operational Improvement
We effectively monitor service outcomes and performance to drive continual quality and service improvement.