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Contract Management

Improve speed to market, prevent supply chain disruption and maximize commercial value with effective contract performance management.

Contract Management

Contracts are the foundation of an effective digital procurement process. Contract management has evolved to enable successful leaders to look beyond traditional contract processes and performance metrics to integrate and scale AI-enabled services, manage delivery risk, and drive measurable outcomes

Additionally, companies are seeking greater visibility into obligations and operational resilience from the ever-growing list of third-party relationships and supply chain disruptions. With the assistance of AI tools, procurement is driving standardization with templates and defined clauses to be able to perform contract operations with increased speed, agility, and efficiency.

The benefits

  • Reduce value leakage: Focusing on “cost” as well as “value beyond cost” through a structured Contract Management framework. For example, reduction of invoice and credit memo errors and other redundancies.
  • Prevent disruption: Prioritizing assessments and mitigation with the right risk-based clauses leading to addendums which address risk upfront based on the relationship being established with the third party.
  • Improve speed to market: Building a centralized and standardized library that can reduce the time to contract. In addition, defining a structured workflow with risk-based review in mind improves the overall review and external negotiation time, leading to reduced time to signature.
  • Enhance contract performance management: Identifying obligations and SLAs that provide visibility into the performance of the contracts reduces value leakage we see today and enables procurement to better predict the probability of failure instead of reacting to events.
  • Reduce cost to serve: Driving self service capabilities during contract request intake, authoring and negotiation. Establishing automation that guides the user, simplifies the support, and reduces the need for intervention to get a contract to signature.

How KPMG can help

KPMG has developed leading practice technology and AI tools to fast-track companies on their contract management transformation journey. Our services and professionals can help you establish an effective supplier management organization that delivers value to business in the following ways:

  • Conduct health check reviews and assess the current Contract Management capabilities across the organization
  • Drive Contract Management strategy and assessments to develop a cross-functional and holistic strategy at the enterprise level
  • Develop a roadmap for the future based on a defined vision that includes the case for change, detailed implementation approach and change management plan
  • Enable AI-enabled solutions for Contract Management through a functional transformation lens
  • Drive insights and actions with Contract discovery and analytics using cognitive capabilities and intelligent automation

The benefits

KPMG has developed leading practice technology and tools to fast-track companies on their contract management transformation journey. Our services and professionals can help you establish an effective supplier management organization that delivers value to business in the following ways:

1

Conduct health check reviews and assess the current Contract Management capabilities across the organization

2

Drive Contract Management strategy and assessments to develop a cross functional and holistic strategy at the enterprise level

3

Develop a roadmap for the future based on a defined vision that includes the case for change, detailed implementation approach and change management plan

4

Enable technology solutions for Contract Management through a functional transformation lens

 

5

Drive insights and actions with Contract discovery and analytics using cognitive capabilities and intelligent automation

Explore more

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Powering enterprise-wide contracting excellence

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Meet our team

Image of Toby Yu
Toby Yu
Principal, Procurement and Outsourcing Advisory, KPMG US
Read bio
Image of Toby Yu
Toby Yu
Principal, Procurement and Outsourcing Advisory, KPMG US
Read bio

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Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. KPMG LLP does not provide legal services.

The information contained herein is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

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