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CASE STUDY
Contract Management Services

Scope

Contract Management Services

Number of contracts supported

50+

Annual Contract Value

USD 5 Mn+
About the Client
Finnish retailer with multiple branded department stores

Challenges :

•    Non-availability of data on baselines and its actual utilisation.

•    Non-standardisation of contractual formats and templates.

•    Long drawn-out co-ordination among internal departments for vendor on-boarding and approvals, causing exceeding
      of time windows.

•    Manually locating and sifting through documents, caused delays and extension of contracts in some cases, leading to
      poor customer service.

•    Indetermination of legal acceptance of contractual terms, especially for novated contracts increased regulatory risk.

Solution Offered :

•    A discovery phase followed by due diligence was
      launched to collate all the contracts and data points
      to plan the contract management life cycle.

•    A Contract Treatment Plan was proposed while contracts
      and commercials were negotiated for best possible
      outcomes.

•    Total IT Global acted as the go-between for all concerned
      departments, driving alignment and closure in line with
      defined timelines.

•    A standardised structure for reporting, verification,
      approval, storage, execution and renewal of the contracts
      was created to reduce manual intervention and
      automate processes.

woman looking different goodies local producer

Visible Results :

•    Company achieved USD800K in savings and improved efficiencies by implementing this program.

•    Planned and structured approach increased certainty and improved accuracy.

•    Due diligence and standardisation enabled leadership to take informed decisions and ensured service continuity with
      minimised contract risks.

•    Reduced manual intervention reduced errors and improved efficiencies and faster execution of the contract.

•    Smart analysis and performance tracking ensured time-bound execution and ready availability of data points.