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Ardent Partners, a supply management strategies research firm, estimates the hard cost of contract non-compliance ranges between 6% and 18% for every dollar of off-contract spend. Just as spend analysis helps reduce costs and improve procurement efficiency, contract analytics provides the visibility needed to understand the obligations, risks and opportunities within your supplier relationships.
Having the tools to dive down into specific clauses and terms, in an automated and scalable way across the entire contract portfolio, means organizations fully understand how to better leverage supplier relationships and make more informed business decisions.
Learn how contract analytics can help procurement teams:
- Uncover contract non-compliance
- Find hidden costs
- Leverage savings opportunities
- Track supplier performance issues
- Discover supply risks
The speakers will discuss how visibility into the above information within the framework of a contract analytics program enables procurement teams to convert contract intelligence into significant value.