In the current environment of increased globalization and supply chain networks, effective contract management has become a key business competence in managing risks and promoting business success.
Today’s business landscape is filled with uncertainty. Turning uncertainty into opportunities is the first step into sound contract management. Businesses are exposed to risks ranging from complex regulations, through sophisticated global supply chain networks, and into contracts. Simple supply or commodity acquisition has been much less prevalent in recent years, with businesses instead opting for strategic contracts in order to build more resilient supply chains.
As such, contract management is now key to manage business risks. Be it strategic, operational, compliance, financial, reputation or legal risk – effective contract management means knowing how to turn uncertainty into identifiable risks in order to improve top line performance and bottom line profitability.
KPMG is glad to share its knowledge and experience in this area with you. That is why we drew up a Fact Sheet, providing insight into achieving greater contract optimization and outcomes through establishing a framework and implementing techniques to manage and mitigate contractual risk. You can download the pubication on this page.
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