Benefits of contract management in procurement

Thinking Machine resources for Spend Analytics in Procurement, Contract lifecycle management and Automated contract management software

Posts about Strategic cost management:

What is the role of Contract Value Intelligence in Spending Analysis?

What is the role of Contract Value Intelligence in Spending Analysis?

Understanding what truly constitutes contract value intelligence (CVI) is a crucial starting point for strategic cost management, expense management and enterprise spending analysis.

Telecom or technology contract value can be determined by the quality of the service in relation to your overall technology and telecoms spend, which you must be aware of to determine whether you are using the best plans for your business and if the value of your spend is fully optimized.

For example, if you pay for 100GB of data and unlimited calls but only use a fraction of it, there may well be a cheaper option available.

Failure to identify spend optimization opportunities across thousands of plans routinely results in massive overspending, which impacts enterprises globally by more than $800bn per year.