Why Contract Analytics

Enterprises are relying more and more on third-party suppliers, resulting in increased operational complexity and effort to manage contracts. They are spending significant time and effort in crafting third-party contracts, however, the rigor in properly managing these contracts is usually missing. The inability to have an effective contract management process can result in value leakage up to 40% of the contract value.

The significance of contract analytics goes beyond the cost management to support one or more of the key strategic objectives including risk minimization, improved regulatory compliance and increased speed to market.

Realizing True Value of Your Contracts

Hex’s Contract Analytics Services can help you manage risk arising from the third-party relationships while optimizing the portfolio spend through the contract life cycle. We can leverage technology to efficiently extract contractual terms and conditions in a structured format, analyze / benchmark those against contemporary market to identify optimization opportunities.

Active governance of the contracts is key to ensure that an enterprise derives the intended value from its contracts.