Using Analytics To Improve Contract Lifecycle Management 703 - Shark Tank Using Analytics To Improve Contract Lifecycle Management Contract Value Realisation begins after Execution Arthur Raguette Arthur@Ultria.com +1 732 692 3257
Why is the Ultria CLM in a Shark Tank for Analytics? Contract Management has two major phases Contract Authoring / Drafting and Contract Performance and Risk Management Contract Lifecycle begins at the request and ends on successful termination of the contract. Performance Analytics drive front end optimization
Contract Creation & Approval Template Library Clause Library Wizard Based Contract Authoring Ultria Authoring for Contract Creation & Approval MS Word Integrated Contract Negotiation Collaborative Authoring
Accelerated Revenue Secured Access Ultria Repository for User-defined Access Alert & Reminders Multi-Parameter Search Ultria Repository for Accelerated Revenue Report & Analysis Secured Access Compliance Tracker Utilization Tracker
Accelerated Value Ultria Repository for User-defined Access Alerts & Reminders Multi-Parameter Search Ultria Repository for Accelerated Value Reports & Analysis Compliance Tracker Utilization Tracker
Full lifecycle starts at the request and continues well past execution Pre Award Stages Authoring Negotiation Approval Contract Process Post Award Stages Analytics Full lifecycle starts at the request and continues well past execution
Why is post award contract analysis important? It took 6 months to negotiate and close a 5 year contract. That is a 10:1 return. Lets maximize it.
What analytic views matter? Why is post award contract analysis important? It took 6 months to negotiate and close a 5 year contract. That is a 10:1 return. Let’s maximize it. What analytic views matter? Compliance Obligation Tracking Predictive Risk
Analytics for post-award contract management Renew only high performing contracts Use data from existing contracts to build more robust contracts in the future. Identify and correct contract non performance.
Revenue Benefits of Post-Award Contract Analytics Contract management costs the average company 9.2% of annual revenue
Benefits of Post-Award Contract Analytics Revenue Threshold trigger notifications for revenue optimization or renegotiations
Benefits of Post-Award Contract Analytics Revenue Threshold trigger notifications for revenue optimization or renegotiations Minimize revenue leakage by tracking utilization against contract values
Benefits of Post-Award Contract Analytics Revenue Threshold trigger notifications for revenue optimization or renegotiations Minimize revenue leakage by tracking utilization against contract values Renewal and Expiry Management
78% of contract management teams are under pressure to reduce cost
78% of contract management teams are under pressure to reduce cost 44% to improve regulatory and internal compliance against mandates
Benefits of Post-Award Contract Analytics Performance and Risk 91% of best in class organizations have implemented reporting and analytics in their contract management process.
Benefits of Post-Award Contract Analytics Performance and Risk Leverage old contracts and common performance criteria
Benefits of Post-Award Contract Analytics Performance and Risk Leverage old contracts and common performance criteria Create performance analysis based on old contracts to track external party performance over time
Benefits of Post-Award Contract Analytics Performance and Risk Leverage old contracts and common Performance Criteria Create performance analysis based on old contracts to track external party performance over time Feed Customer / Vendor Performance Systems
Benefits of Post-Award Contract Analytics Performance and Risk Leverage old contracts and common Performance Criteria Create performance analysis based on old contracts to track external party performance over time Feed Customer / Vendor Performance Systems Drive Risk Analysis and Risk Prediction
Demonstration Contract Performance Analysis Obligation Management Predictive Risk Analysis
Catch us in action at the ACC Annual Meeting in Washington! Questions? info@Ultria.com Catch us in action at the ACC Annual Meeting in Washington! Arthur Raguette Arthur@Ultria.com +1 (609) 799 5665, +1 (732) 692 3257, 866 987 4463