Contracts have become increasingly complex from a legal, compliance and performance perspective. In today’s world, organizations have more to manage than just contract delivery. Recent trends have highlighted that companies have started recognizing contract management (CM) as a critical area to deliver value and demonstrate capabilities in the organization.
EY Advisory believes a better working world means addressing big and complex industry issues and opportunities to deliver outcomes that help grow, optimize and protect businesses. EY works with you to help build and deliver effective contract management capabilities to maximize value from your relationships, improve compliances, reduce leakages and enhance operational efficiencies.
EY’s diverse teams, combined with our global connectivity and understanding of your industry issues is the inspiration to ask better ask questions, to create innovative answers. EY aids you in achieving better outcomes and long-lasting results, from strategy to execution.
Is your contract management a strategic function in the organization?
EY helped a Fortune 500 company to design and implement the contract management function that is fully aligned with the business objectives, managing business risks and driving innovation and value from contracts.Contact us
How effective is your contract commercial excellence?
EY helped a Fortune 100 company to identify leakages in their indirect spend through an in-depth contract commercial review. EY then designed an integrated and analytics based Commercial Excellence Unit to avoid contractual leakages and continuously improve business processes.Contact us
Can emerging technologies help you deliver effective contract and vendor governance?
EY helped a US based Fortune 500 company design and deliver a Digital Contract and Vendor Governance function by optimizing processes, developing scalable operating model and leveraging emerging technologies.Contact us
- Why we exist
At EY, our purpose is to build a better working world for our clients, our people and our communities. We strive to help create a legacy of improved business performance, confidence and trust.
- How we do it
We team globally to create innovative answers for our clients. The distinctive and ongoing collaboration between EY consultants and our clients results in better working businesses.
We are a strong mix of experienced industry consultants and alliance partners who bring a combination of operational leading practices, real-world pragmatism and experience to your issues.
We choose the right people to help you deliver successful, measurable transformational change. We move seamlessly from strategy to helping companies implement their contract and vendor management transformations.
- What we do
We help our clients build and deliver effective governance over their contract and third parties vendors. We address our clients’ toughest challenges in each phase of contract lifecycle management.
We gain an understanding of your business purpose and different business segments around customers and products. We then help you redefine the end to end contract management to support these segments with a customized and a scalable solution.
Our solution includes:
- Build and deliver contract management function
- Contract management maturity assessment
- Technology enablement
- Contract analytics and insights
- Contract performance and health check reviews
- Contract digitization and abstraction
- Contract management as a managed service
We address big and complex issues and opportunities to deliver better working outcomes that grow, optimize and protect your businesses now and in the future.
Build and deliver contract management function
Define an integrated and scalable operating model, develop future state processes and deploy technology solutions for the new organization: Contract Management, Commercial Excellence, Vendor Management Office
Contract management maturity assessment
Assess maturity of CM function across people, process and technology and build a roadmap to implement improvement opportunities
Identify opportunities for process optimization and automation in the end-to-end contract lifecycle management and support management in its implementation
Contract analytics and insights
Build and roll out contract analytics and reporting framework across business segments, geographies and third parties
Contract performance and health check reviews
Conduct contract compliance, revenue assurance, health checks and cost recovery reviews and vendor site visits
Contract digitization and abstraction
Contract discovery, digitization, metadata extraction and summarization leveraging technology solution
Contract management as a managed service
Build and operate an effective Contract and Vendor Governance office as a managed service
Who we are
We are a diverse team of consultants and industry professionals with a global mindset and a collaborative culture. A multi-competency team including experienced professionals from legal, contract management, vendor management, supply chain, finance, third party risk management and outsourcing domains.
We work hard to understand our clients' issues and are driven to ask better questions in the pursuit of helping to make their businesses work better.
- How many contracts do we have?
- Where are those contracts?
- Do we have standard contract templates, clauses and SOPs?
- Are deviations from templates being reviewed and approved?
- What is there in those contracts – commitments, compliances?
- Are contractual obligations being fulfilled by third parties and us?
- Are we paying as per the contract?
- Are we getting the committed value from these contracts?
- Are contractual risks being identified, managed and monitored?
- Do we have visibility of spend across vendors in the organization?
- Is contract management a cost?