Nividous' performance management solutions
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A global outsourcing management consulting firm sought an IT solution to reduce leakages in outsourcing contracts, identified as 2-5% of total contract value due to inadequate performance management. Nividous provided a comprehensive governance solution with performance management tools and integrated contract management, using advanced analytics and automation to enhance oversight and compliance. The solution significantly reduced contract leakages by over 90% and improved overall contract performance visibility and governance.
Nividous' performance management solutions
- 1. For more information on how organizations in the other industries are using Nividous platform visit: https://nividous.com/case-studies#others A five-star, global outsourcing management consulting and advisory firm focused on transforming the power of technology into great business strategies was looking to plug leakages using a relevant IT solution. The firm specializes in offering digital and IT transformation, sourcing advisory, global strategy, governance services, delivering high-value engagements through industry focused innovation and flexible client based solutions. Recognized as ‘World’s Best Outsourcing Advisors’ by the International Association of Outsourcing Professionals (IAOP) for seven consecutive years, the client was keen on offering IT solution to its customers to plug leakages in outsourcing contracts. Nividous’ Performance Management Solutions Plug Leakages in Outsourcing Contracts Organization Challenges The client specialized in offering outsourcing governance services to end customers that involved auditing of service level management and monitoring of business processes. The audit required analyzing hundreds of existing contracts along with monitoring of performance of thousands of SLAs. Identifying significant value leakages ranging from 2-5% of the total contract value owing to lack of proper performance management. Looking forward to finding a proper IT-backed solution for improving visibility in performance management, the end customer engaged Nividous to plug leaks through relevant IT solutions. +1 (442) 444 2767 Solution Nividous designed a complete governance solution providing necessary performance management and analytical tools for simplifying license and services contract management and enabling strategic decision making in the organization. The IT solution designed by Nividous consisted of an integrated system of modules that enabled full lifecycle management of licenses and services contracts for various types of sourcing transactions. Using ultra-advanced integration of different platforms for various functions, the solution enabled managed governance services across the organization. The solution used analytics based on Pentaho BI, governance process automation based on jBPM and contract repository based on jack-Rabbit. With highly-configurable analytics dashboards, slice and dice feature to monitor contract performance and remedial actions by vendor manager using reports, the IT solution served as a complete package for the client. Some of the features of the IT tool included: Benefits Reduction in contract leakages >90% Improved visibility of contract performance 80% Improved compliance with detailed audit trail 85% Comprehensive issue, risk and action item management and governance features based on task and roles Contract repository and document management system for all contracts, financial/performance data and documents Audit trail feature to manage compliances Quick and easy access to vital sourcing contract attributes Highly-configurable analytics, dashboards and reporting systems Configurable and automated vendor management and governance process workflows with alerts and notifications contactus@nividous.com www.nividous.com