Business Challenge
Improving contract management process for partners
An Asian road based logistics services provider wanted to improve the contract management with its warehousing partners and reduce costs.
Situation
Non streamlined contract with partners
The client had operated with a number of distribution partners for its warehousing requirements and had various types of short and long term contracts. The client wanted a solution which could streamline its contract management process with all partners and bring them at par, so it could identify the best partners, detect issues, proactively manage renewals, and improve overall contract profitability.
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Solution/Approach
Contract data management with statistical modeling, cost analysis and predictive analytics
We mined all the historical and real time contract data, and used statistical modeling, cost and spend analytics, predictive analytics analyze all contract information. This was used to improve contract management, predict upcoming renewals and create consistent SLAs for contract management.
Impact
Improved partner management, reduced spend and improved cost savings
The client improved the management of its contracts, identified common soon contracting issues, received updates on expiring contracts and contract renewals. Based on the simplified contract management, the client was also able to identify its best partners, and developed long term partnership strategies thus improving contract profitability.
