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Contract value leakage is the single biggest opportunity for modern organizations to turn agreement practices into dollars and cents. In the second instalment, we are going to apply that simple approach to the causes of value leakage and then examine how to look at the opportunities and risks that arise from those causes. An understanding of where value leakage occurs is a starting point but doing something about it in a sustainable manner requires both focus and investment
This is where the rubber hits the road In part one of this article, we examined the causes of value leakage, reflecting on the importance of keeping that analysis as simple as possible In order to minimize value leakage and maximize business value realization, the business relationship manager can act as a transition advisor to their business partners
The brm must be an ambassador for good value management practice, and work with their key stakeholders to overcome these challenges and establish a value optimization.
Contracts can lose their value over time in a process known as contract value leakage Learn how to prevent it. Contract value leakage may be affecting your bottom line See how you can improve processes to prevent leakage and protect your agreements.
Learn how to reduce the amount of value lost over the life of a contract due to missed deliverables, unclear language, and unacceptable costs Find out how contract lifecycle management software can automate and optimize the contract process and minimize value leakage. This minimizes disruption and maintains contractual obligations, thus reducing the risk of leakage due to unforeseen circumstances How much does it typically cost to implement robust contract value leakage prevention strategies?
Preventing contract value leakage requires a holistic approach that spans the entire contract lifecycle
In this blog post, we'll be discussing key takeaways on how to identify and prevent contract value leakage By implementing these strategies, organizations can enhance the value derived from contracts and strengthen their overall business relationships.
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