Finding a single version of the truth
The first step is to pull together and validate all of your contracts, ensuring everyone is working from data that’s accurate and verified – and represents a single version of the truth. Our team are superb at consolidating all of the relevant information onto OPTIMiSe, our bespoke technology platform.
Understanding where to focus the effort
Within OPTIMiSe, we have developed a unique diagnostic tool, the Lifecycle Index™, that delivers a clear understanding of how well contracts are managed today – both on a contract-by-contract basis, and across the organisation. The Lifecycle Index™ is a measure of the amount of effort and focus an organisation should spend on each contract, based on an algorithm of spend, risk and complexity. This is done to maximise investment and opportunity, and to stop value leaking away.
Identifying challenges and opportunities
Each contract is then assessed against the ten activities that contribute to contract management quality. Our intelligent wizard allows this assessment to be made easily for every contract.
The outputs from the Lifecycle Index process act as benchmarks to show where you are today across all your contract spend, and across the different parts of your organisation. We pull these together into a clear analysis, identifying (at both a contract and an organisational level) the issues that need to be addressed, and how these should be prioritised across the ten areas of assessment.
Detailed plans to address the challenges
We work with you to construct effective plans. The plans will clearly identify and address the requirements at an organisational level – resource, skills, training, process and systems. They will define both opportunities and required improvements a contract-by-contract basis. We’ll then support you in any or all aspects of implementing the actions required to address the needs identified through the Lifecycle Index and in the plans.
Working together to deliver the right outcomes
OPTIMiSe provides the heartbeat for delivering real long-term control, compliance and improved outcomes. The collaborative capability of OPTIMiSe, in particular, allows us to mix and match which contract management activities you outsource to us, and enables us to continually adapt our services to best meet your needs.
We can implement OPTIMiSe across your entire portfolio of contracts, codifying the actions for improving contracts within Contract Plans, which we can support you in building and managing.
Continuous improvement and measurement of success
We know results are what matter – it’s all about measurable and demonstrative improvements. It’s why we embed the use of the Lifecycle Index within the Contract Management approach, providing a clear and strategic means of continually demonstrating and measuring improved capability, improved performance and improved outcomes.
We can even provide an audit capability on a regular basis – to assess performance and make sure things don’t slip.
Contract Management in the NHS
Download the detailed findings of the research we conducted with HCSA.
Contract Management in Universities
Download the detailed findings of the research we conducted with HEPA.
Head of Procurement