Contract Management Solutions that Maximize Contract Value

With Vendor Centric’s contract lifecycle management solutions and consulting services, your organization can adopt a more streamlined, transparent, and practical approach to contract management, addressing current challenges and proactively preventing future ones.

Some of the significant contract management challenges we help our clients tackle include:

• Policy and procedure standardization
• Role clarity and alignment
• Process efficiency, digitization, and automation
• Vendor performance improvement
• Contractual risk mitigation
• Regulatory compliance

Our tailored vendor and contract lifecycle management services will resolve your most demanding challenges so you can optimize contract performance, mitigate risks, and lower costs.

Yes. Our vendor contract management services cover all areas of contract lifecycle management operations, including contract management policies and procedures, vendor management technology, resourcing and training. We help you identify improvement opportunities and implement them, so you can quickly and efficiently improve speed, scale and compliance within your contract management operations.

No, we do not sell CLM software. However, as an expert in contract lifecycle management, we possess in-depth knowledge of the marketplace and maintain collaborative relationships with many leading providers. As part of our partnership, we offer unbiased expertise, comprehensive insights and practical guidance, empowering you to select the most suitable solution precisely aligned with your organization’s needs and goals. 

Yes. As experts in the industry with strong insights into many of the leading providers, we are uniquely positioned to guide you through this software selection and implementation process. We start by helping you create the right CLM solution strategy, aligning stakeholders and documenting your software requirements. We then advise you on viable CLM solutions in the marketplace and support you through an efficient evaluation and selection process.

We don’t stop there. We also provide project management support to help you implement the CLM solution and drive adoption across your organization. Our project management approach is agile and dynamic, emphasizing speed while also ensuring the solution aligns with your procedures and compliance requirements.

We provide insights into best practices for establishing standards and metrics for contract performance management. We help you establish performance standards and Service Level Agreements (SLAs) and incorporate them into your contract management processes, Master Services Agreements, Statements of Work and other contractual templates. We also help you create contract performance metrics to evaluate vendor performance across all of your contracts, ensuring vendor services meet required standards and remain cost-efficient.

Yes, we specialize in improving your entire contract management operations, establishing a holistic approach and creating more robust governance, oversight and continuous improvement practices.

Yes. While most of our clients are based in the United States, they work with vendors worldwide.  We help them establish and maintain a vendor contract management infrastructure to meet the unique challenges of managing vendors domestically and internationally, ensuring they apply consistent policies and standards while complying with varied regulatory requirements.

Our services are not limited to specific industries. In fact, one of the benefits of working with Vendor Centric is that we partner with organizations across various sectors, including highly regulated ones. This enables us to bring you insights and best practices from each, allowing you to adopt an informed approach tailored to your unique needs.

As a leading vendor contract management company, we’ve established a structured yet personalized, four-phased approach that’s been tested and refined over the years.  

Operational Assessment: We assess your end-to-end contract lifecycle management operations to identify opportunities to improve policies, procedures, technology, resourcing and governance. Our assessment is aligned with the current best practices and industry-specific regulatory requirements.

Improvement Roadmap: Our contract management consultants then work with you to prioritize the opportunities and create a detailed roadmap for implementing improvements and generating ‘quick wins’ along the way.

Implementation of Operational Improvements: With the improvement roadmap as the guide, our contract management solutions experts roll up their sleeves to support you in implementing your improvement recommendations.  We’ll streamline and document your policies and procedures, define your resourcing strategy, clarify roles and responsibilities and support the implementation of new technology.  We’ll also create and deliver training materials to prepare your staff for a successful rollout of the improvements. 

Optimizing Ongoing Operations: Once your improvements have been operationalized, we provide ongoing support to help you optimize contract management operations. We can address all aspects of continuous process improvement, including technology optimization, cost reduction, compliance management, vendor performance enhancement and risk mitigation.

We use various tools and methods to identify and implement your contract management improvements. These include project planning and governance, source document review and personalized workshops.  We also integrate tools such as process maps and RACI charts to break down processes and clarify roles and responsibilities.

Project management is also an integral part of our process.  We use project dashboards and regularly conduct project status meetings and project steering meetings with your team.  Our consulting methods are designed to understand your business, engage stakeholders, and provide personalized recommendations that are right-sized for your organization.

During our planning process, we work with you to create a set of Key Success Indicators for your project, including ‘quick wins’ you can achieve throughout the project.  We then have regular project management meetings with you to monitor progress and address and remediate roadblocks and issues as they arise.  Regular project meetings ensure timely, transparent communication so we can work collaboratively to achieve success together.

Our contract management consultants take a personalized and practical approach to assessing and improving your contract lifecycle management operations. Unlike larger firms who rely on theoretical knowledge and a one-size-fits-all approach, we spend time understanding your business goals, needs and constraints to develop tailored recommendations that work in the real world. You get specialization, speed and big-firm expertise without the big-firm costs.

Choosing Vendor Centric means partnering with a firm that digs in and helps you do the heavy lifting you’ll need to optimize your contract lifecycle management operations.  We provide strategic advice and tactical, hands-on support, ensuring you have trusted resources you can count on through every step of your journey to optimize contract lifecycle management. 

Working with Vendor Centric is easy.  We have a 3-step onboarding process and are flexible in using your contracting vehicle or ours.  Schedule a scoping call with one of our specialists to complete the process today!