Manage your contracts effectively with
Ernst & Young’s methodology
Luxembourg, 1 July 2011
In a challenging economic environment, boosting revenues and optimizing outgoings through better contract management can help companies and institutions differentiate themselves more than ever from their competitors.
On 30 June at Ernst & Young’s Munsbach premises, Brice Lecoustey, Senior Manager, and Virginie David, Manager, of Ernst & Young Luxembourg advisory services, presented an innovative methodology to industry professionals - including CEOs, CFOs, heads of internal audit, treasurers, heads of procurement or purchasing, and legal or IT managers - to efficiently manage their contracts and, more specifically:
- To generate additional revenues by identifying the right opportunities
- To minimize their costs but retain quality through a pertinent analysis of their contracts
- To achieve greater transparency and secure their relationships with their partners or suppliers
- To provide better transparency with adequate controls on their contract management process
Key examples enabled participants to better know how to get the optimum out of their costs, boost their revenues and achieve higher transparency through effective contract management. Also covered were questions detailing why it is so important to perform an efficient review of their contracts, to identify quick and easy costs savings and revenue opportunities, to effectively monitor their risks and to ensure that procedures in place are the most appropriate in a contract management situation.
Posted on 1 June 2011