Key Insights1. Most contracts were not managed digitally.
2. The team found interacting with the digital contract system to be tedious and time-consuming.
3. When they did digitize contracts, they limited their use of the system to features that met their most immediate goals.
4. As a result, supplier data in the system was outdated and incomplete.
5. This limited visibility into the supplier portfolio, exposed the firm to risk, and obscured sourcing opportunities.
Digitization of contracts for 1,200+ suppliers
I led the transition from physical to electronic vendor files for the region.
I created and implemented a system for managing contract priorities.
• RFQs and RFPs
• Supplier bid evaluations
• Stakeholder communications
• Supplier on-boardings
I conducted ongoing risk analysis pertaining to contractual agreements, insurance coverage, bidding requirements, and HSE documentation. For example, I found that less than 30% of suppliers had the insurance required in their contracts. To mitigate such risks, I:
• Prioritized contracting projects for the team
• Resolved off-contract spend by drafting and amending contracts
• Procured missing documentation
By digitizing 1,200+ supplier contracts and implementing a risk-based contract management system, I improved visibility into the supplier portfolio.
With new visibility into the supplier portfolio, I identified and resolved off-contract spend and vendor non-compliance.
Uncovered sourcing opportunities
I uncovered opportunities to leverage buying power and negotiate more favorable terms.