Most of the time the term Contract Management is misunderstood for Managing Contract. Our observations on why these two are different, Most organization consider signature of contract (new, renewal or change) as end of the contract management process. Signature of agreed terms and conditions on a document is birth of a contract and starting point … [Read more…]
Regardless of industry, with increasing complexity of meeting regulatory and policy compliances in a multi-vendor environment, an opportunity exists for VMO/Supplier governance teams to grab. They can step toward strategic role by aiding the management of risk and compliance aspect of outsourcing deals. It does make sense because, Vendor management in matured organization is a … [Read more…]
Why Managed Governance Services?
“Fact-based governance execution fosters an environment to focus efforts on performance and relationship improvement”
While many organizations are continuously focus on improving their outsourcing capabilities, they still struggle to get the business results they desire from their outsourcing engagements. It usually takes 12 – 18 months to create a matured supplier governance function within any organization. When organizations realize the need to set up a vendor management or governance … [Read more…]
Suppliers can deliver a greater value to the clients with a robust governance framework than simply meeting SLAs
“The benefits of having a robust governance framework will outweigh the investment by manifold as you exploit the full potential of existing strategic clients.”
Seemingly, the outsourcing industry may have matured over time, but the governance of suppliers is still in its nascent stages. In a matured supplier governance environment including vendor management practices, buyers require a more holistic approach towards outsourcing and relationships with service providers. The reason for this argument lies in the fact that 48% of clients … [Read more…]