Many businesses will use the experiences and lessons learned from the COVID-19 crisis to build more resilience within their contract management practices.
In an interdependent, volatile global economy, contract performance can be largely challenged by uncertain and unpredictable forces. In order to maximize their potential, businesses need to reflect on their current contract management strategies and find alternate ways to leverage the full value in contracts – through appropriate contract terms and conditions, more allocation of risk and improved governance and performance standards.
Increasingly, realizing the full economic value from contracts is a chief concern for today's businesses – especially when cost-efficiency and cash preservation are core to survival and competitive advantage. As such, contract management has fast become a key business competency for driving enhanced business outcomes and strategic solutions for future success. From identifying ways to reduce commercial leakage practices, to supporting contract growth and performance, into capturing incremental savings or revenue. For many, seeing contracts as a legal administrative burden rather than a source of value is a major pitfall of businesses that fail to overcome complexity.
KPMG is glad to share its knowledge and provide insights into the critical competencies your business must build to remain resilient and competitive going forward. Our publication discusses three distinct ways to improve contract performance. From understanding and deploying techniques to manage contractual issues faced in the short term, to focusing on building a more relational contracting approach over the medium term, into embedding best practice methods to unlock economic value in contracts for long term business success.
You can download the publication on this page or contact us for more information.
Please contact Patrick van Hardevelt for any further information.