Alternative Resourcing in the Legal Sector
IMPROVING CONTRACT MANAGEMENT AT LEADING TELCO
Faced with multiple (and often inconsistent) contract lifecycle management (CLM) practices that had evolved over time, OMC’s client struggled to effectively manage its business contracts. Challenges in locating final form contracts, coupled with a lengthy, manual contract approval process, increased contract risk and introduced delay. Additionally, senior lawyers and procurement professionals expended significant effort in performing low risk activities, frequently at the expense of higher risk work.
Working with key legal and procurement stakeholders, OMC identified and prioritised the organisation’s CLM requirements, mapping and redesigning a range of end-to-end contracting processes which captured Best Practice CLM approaches and leveraged simple, existing technology solutions.
Benefits included reducing costs by up to 40%, refocussing senior staff effort on greater value add activities, improving contract consistency and control overall and – crucially – mitigating contract risk.