CHALLENGES FACED BY CLIENTS · 2020. 7. 30. · IBM-Emptoris, Coupa, and Oracle-Q ... supplier in...
Transcript of CHALLENGES FACED BY CLIENTS · 2020. 7. 30. · IBM-Emptoris, Coupa, and Oracle-Q ... supplier in...
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LEGAL SERVICES OVERVIEW - CONTRACT MANAGEMENT
LSS CONTRACT MANAGEMENT SERVICES– KEY DRIVERS
EXL provides industry-specific technology solutions to legal clients, while also providing legal support services
Providing optimized solutions takinginto consideration:
• Client metrics and guidelines
• Client preferred positions
• Business and legal nuances and preferences• Optimal cost models that o�ers the potential
for savings
• Saves more for the client than the expenses incurred
• Creating virtual collaboration libraries and repositories for contract clause guides standard templates and negotiation playbooks for contracts
• Analyze and understand actual business expectations and benefits
• Transparent, real-time solutions that cut down turnaround time for contract executions
EXL vision of risk assessment in management renders following benefits:
• Minimizing business and legal risks
• Ensuring maximum business and legal protection
• Transferring and managing risks with other party’s concord
• Proficient in multiple legal bill review platforms- Legal-X, CounselLink and Passport
• Skilled in leveraging the latest contract management tools like SAP Ariba, IBM-Emptoris, Coupa, and Oracle-Q
• EXL’s proprietary tool MedConnectionSM can be tailored as per client’s requirements
Latest Technology and Infrastructure
Risk Assessment and Management
Comprehensive Approach
Rapid Turnaround Time and Speed
Best Practices
Reduced Cost
CHALLENGES FACED BY CLIENTS
Reduce legal spend on a sustainable basis
Reduction in contract execution cycle time
No standardized and centralized processes to prioritize processing of a contract
Need to improve timelines for contract executions
No tracking of deliverables& obligations as per each contract
Limited bandwidth to process significant volume
of contracts in timely manner
END-TO-END CONTRACT MANAGEMENTSERVICES FOR PROCUREMENT DEPARTMENT
(in case of denial)
• Contract abstraction (abstracting key terms)
• Contract indexing and summarization
• Contract deliverables and obligations (D&O)management
• Supplier SLA reviews - action and remedy for anydeficiencies observed in contract
• Analysis of scope or terms and conditions of contract
• Contract compliance
• Contract compliancemanagement
• Reporting
• Planning, authoring,development,implementation andcreation of contracts
• Contract rule book creation
• Routing contracts forsignatures, executionand finalization
• Setting up and registering thesupplier in customer contractsmanagement portal
• Supplier administration(information and status changes,insurance renewals- notificationand escalations)
• Contract review, revision and redlining
• Creating parent-child relationship
• Coordinate actions with internal procurement,business, risk assessment and legal teams as needed
• Contract negotiations with third parties
• Obtaining approvals from internal business, legaldepartment and other stakeholders
• Negotiation with vendor and business
BENEFITS AS SEEN BY CLIENTS
CONTRACTMANAGEMENT
LIFECYCLE
StandardTemplateCreation
PlaybookCreation
Authoring &Dra�ing
Negotiation with
Stakeholders
ContractApprovalProcessSupplierOnboarding
& P2P
ContractExecution
ContractAdministration
Obligation & Risk
Assessment
ContractCompliance and
Optimization
Reporting
High qualitylegal support
Cut down onturnaround time
Consistent and highquality work
Transparent,real-time solution
An extended arm to the client’s legal department
Parent-child nested relationship
Supplier pricing tracking
Clients can track suppliers’ performance
Contract compliance and timely renewal
Deliverables and obligation management (D&O)
Suppliers’ e�iciency analysis as per performance
Significant reduction in legal spend, while
reducing attorney case load
Tracking of amounts payable to suppliers as per contractual
obligations – ensuring surplus is not paid
Validation of SLA compliance and supplier benchmarking/
comparison (cost optimization and service credits and savings)
EXLSERVICE.COM | ©2020 EXLSERVICE HOLDINGS, INC. ALL RIGHTS RESERVEDFor more information go to www.exlservice.com/legal-disclaimer
Contact Us to Learn More
Chris Tidball
[email protected] +1.904.742.9031
Vice President, Sales and Claims Transformation
exlservice.com/insurance
https://www.exlservice.com/insurance