Transformation and Consulting
Generating Contract Management Transformation Impact
Managing multiple contracts with varied spend can be time and cost-intensive. With growth, and an increase in suppliers, the need for contract compliance—from the creation of agreements, to requisitioning and generating purchase orders, through to invoicing and payments—increases. The frequency with which obligations must be actively monitored and managed is yet another complicating variable.
Genpact’s process-improvement experts architect the Lean DigitalSM enterprise, combining design-thinking principles with Lean approaches, digital technologies and analytics, and deep domain expertise to help companies set up the right compliance metrics to minimize contract leakage and risk exposure.
It starts with leaning out the process, setting up the right metrics, defining compliance and leveraging technology to enable contract compliance. From there, we provide rigorous performance analysis, streamline labor-intensive processes, repair fragmented procedures and disintegrated technology platforms, and confront ineffective compliance monitoring and management.
Using Lean to improve contract governance and deliver savings
With Genpact’s help, a $1.5 billion wireless communications carrier found multiple instances of contract non-compliance. Lean analysis identified process improvements that minimized savings leakage of $10 million through tighter controls and metrics.