We have more than 5,000 contracts under active management for our clients. And managing every aspect of the contract – procurements, renewals, costs and supplier performance – so that nothing falls through the cracks is an enormous challenge. We couldn’t do it without our proprietary technology platform, OPTIMiSe, that drives activity and puts everything you need to know right at your fingertips.
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.More about our approach to contract management
Having access to comprehensive data and documentation for each contract is an essential precursor to effective contract management. OPTIMiSe holds all the information necessary to manage the contracts, from contract documentation and costs to performance data and contract plans.
Ensuring that all contract data and activities are visible to everybody that needs it is a challenge for most organisations. OPTIMiSe brings all the important information and activities together in a central dashboard, proving clear visibility and oversight for both central teams such as Procurement and for departmental stakeholders and contract owners.More about our approach to contract management
In most organisations, it’s likely that several stakeholders will be involved in planning, procuring and then managing contracts. OPTIMiSe supports this collaboration through the use of virtual teams, bring together the right people to actively manage each and every contract.
OPTIMiSe makes things happen by driving activity to timescale. OPTIMiSe treats every contract as a project with activities scheduled and allocated to the right person. This makes tracking progress against the contract plan an easy process, with nothing falling through the cracks. OPTIMiSe shows clearly whether a contract is being actively managed and, if not, where the blockage lies.
With multiple stakeholders for each contract, operating in different departments, decisions can be difficult to reach. It’s why OPTIMiSe has an online decision tool. It allows any decision about a new contract, or a contract change, to be sent electronically to all stakeholders for a decision, made simply by clicking on Accept, Reject or Query.
OPTIMiSe doesn’t just make this happen, it also makes certain you have all the information you need, right at your fingertips. Comprehensive reporting shows progress against procurements, contracts, costs, savings and supplier performance. It gives not only a powerful overview, but also whatever level of detail you need.