Top 5 Third-Party Risks for Organizations
Any use of third parties introduces an increased level of risk, a risk that needs to be managed on an ongoing basis.
You've put major time and resources into choosing the right suppliers and crafting complex agreements. Now you have to make sure you're getting the performance and service quality you're paying for. Inadequate contract management can lead to serious deterioration in both. We call it value erosion, and it can cost you as much as 15% to 30% of total contract value.
We not only help recapture this lost productivity, but also uncover more value in your supplier relationships, working with you to supercharge your vendor management organization and free your teams up to do what they do best—focus on strategic opportunities to expand and enhance your contract portfolio.
Learn more about our Vendor Management Office as a Service capabilities.
It can be tough to coordinate the processes, systems and people you need to manage a large portfolio of contracts. Many businesses need outside help with this.
ISG provides a unique combination of business services industry knowledge, contract expertise and automated technology. We aim to help you optimize every aspect of your supplier and contract management life cycle.
We know about contracting and the complexities involved with managing a multi-supplier ecosystem. We have seen a lot in our 20 years of sourcing and managing $475 billion of enterprise-supplier transactions.
Our unmatched, hands-on experience gives us insight into supplier relationships and contract management you can't get anywhere else. It's our mission to use that experience to
ensure you get complete clarity and full value from all your sourcing relationships.
How do we deliver it?
ISG’s Supplier & Contract Management solutions are supported by GovernX, our world-class, end-to-end managed service and lifecycle management SaaS platform. GovernX provides our analysts and your teams with the real-time, AI-powered data necessary to manage complex contract portfolios effectively, and get the greatest value out of your supplier relationships.
ISG is a leader in proprietary research, advisory consulting and executive event services focused on market trends and disruptive technologies.
Get the insight and guidance you need to accelerate growth and create more value.
Learn MoreGeopolitical tensions, fluctuating energy demands, environmental concerns and the increase in renewable energy sources have posed multiple challenges for the traditional fossil fuel sector. Despite the shift toward sustainable energy sources, investments are ongoing, especially in the upstream segment, to meet the expected peak oil and gas demand in the 2030s. North America records the highest investments, accounting for more than one-third of the global investments. Despite price volatility and environmental nd production concerns, the region’s shale oil and gas production has transformed it into a major energy exporter.
Banks are undergoing digital transformation to improve efficiency, meet evolving customer demands, and create resilient systems to become market-relevant and gain a competitive edge.
Global enterprises fear a possible economic slowdown but are also curious about the possibilities of the latest generative AI technology. These fears and enthusiasms impact the approach to workplace technology investment decisions for large organizations and SMBs. The workplace technology landscape has multiple areas that impact the employee experience and the organization’s outlook. This report dives deep into two important areas: front-end technologies that are employee facing and are the entry point for digital workplace and back-end technologies that IT administrators leverage to ensure uninterrupted, secured and cost-effective management of IT estate that delivers the workplace to employees. Both areas focus on employee experience enhancement in two different aspects and have different sets of technologies that interest a large organization versus an SMB.
Since 2020, the use of digital workplace services by U.S. state and local governments and educational (SLED) agencies has seen significant changes and advancements. This shift, in large part, is due to pandemic-driven impacts in work environments, widespread staff retirements and shortages, and most recently, the availability of substantial funds from the U.S. federal government to upgrade IT and increase the operational efficiency and effectiveness of associated projects.
When we analyzed the future of the work and workplace technology services and solutions market in 2022, we remarked that enterprise workplace leaders are at the center stage of the transformation. 2023 has experienced two significant developments so far. First, there is a growing concern about a possible economic slowdown. Second, there have been substantial developments in artificial intelligence technology. These developments, combined with the trends we observed last year, namely growing acceptance of hybrid working and increasing focus on sustainability and a tech-savvy workforce, are largely influencing enterprise workplace technology buying decisions.