Procurement Contracts - Real Value, Real Ruturns

TFacing the worst economic crisis since The Great Depression, enterprises are in a constant battle to manage spend and control costs. Procurement is the chief architect of spend management and savings, and procurement has at its disposal an underutilized tool to meet savings expectations: contract management. Procurement contracts represent the culmination of spend analysis and sourcing efforts and are used to subsequently guide the purchasing process for the commodities and / or services covered by outlining negotiated prices, expected supplier service levels and agreed upon concessions and commitments on the side of the buyer. The effective management of the contract creation process in combination with the development of greater analytics and reporting capabilities around contract compliance delivers real value and returns for enterprises.

Five Compelling Facts from the Research, Providing Actionable Benefits for Readers:

• Best-in-Class companies experience four times less savings leakage than All Others
• Best-in-Class companies realize 15% to 20% lower contract creation and approval cycle times than their competitors
• Best-in-Class companies have been able to place 59% more spend under management than All Others
• Best-in-Class companies are able to place 42% more spend on contract than their peers due to more effective contract management
• More effective management of procurement contracts has led Best-in-Class companies to capture 46% more of their negotiated discounts and rebates

Download full whitepaper :
Procurement Contracts - Real Value, Real Ruturns (553 KB)

Learn more about Zycus Spend Management Solution Suite

Zycus Spend Management Solutions are designed to ensure overall success of an organization's spend management program by helping sourcing professionals ANALYZE their spend deeper and wider... Read more

• Spend Analysis - Zycus Spend Analysis Solution to classify spend data prior to loading it into SAP BW, organizations... Read more
• Strategic Sourcing - Zycus Strategic sourcing suite is specifically designed for those organizations that are currently looking to automate their manual process. Taking cues from what-went-well and what-went-wrong, specific requirements of late entrants in eSourcing, and budget constraints... Read more
• Contract Management - Zycus Contract management plays a vital role to a company’s financial health & is viewed as strategic weapon in optimizing contract performance and improving the return on investment... Read more