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Analytics: Improve Rather Than Manage Contracts

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Himanshugupta
User Rank
Supply Network Guru
analytical techniques
Himanshugupta   3/25/2014 1:34:42 PM
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Contract management sounds really an exciting field. What analytical techniques do you use for the software program. I know that it might be a trade secret but i just wanted to know whether these techniques are well known techniques or you have IPs protecting the software tool.

HaileyMcK
User Rank
Blogger
Big savings
HaileyMcK   3/25/2014 12:29:47 AM
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I read with interest a report from the Supply Chain Council that said:

Accounting for an incredible 60 to 90% of overall expenses, supply chain costs can be a significant lever for driving bottom-line performance. In fact, it's estimated that a 5% reduction in supply chain spending can increase net income by over 40%.

It seems that better use of analytics makes capturing this sort of reduction.


TaimoorZ
User Rank
Supply Network Guru
Integration is the key
TaimoorZ   3/24/2014 12:19:29 PM
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"Stand-alone analytics platforms lack the system expertise and data structure understanding required to easily develop and modify reports and dashboards"

@Joe: I agree with you on this. An integrated analyics platform built into all kinds of systems (including the CLM system) is the key to success in the market. While you may have analytics tools that exist in isolation, I don't think they give the required speed and flexibility that companies need. What's needed is seamless integration and interconnectivity.






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