Contracts directly impact the health and wealth of every organization - from revenues, risks and reputation to rights and responsibilities. Yet for all their importance, on average, contracts suffer more than 9% value erosion. Streamlining the contracting process offers perhaps the biggest ROI opportunity currently available.
So why are so few doing it? The answer is that there is no owner, no one accountable for pulling together the disparate needs and fragmented resources that stand in the way of improvement.
In KPMG Law's* hard-hitting report with World Commerce & Contracting the authors share a bold solution: the creation of an Office of contracting.
* KPMG Law refers to joined global services. KPMG Acor Tax can assist with a broad range of services and solutions within contract management and contract processing, delivered by our Legal Transformation team.