Deliver Continuous Value in Third Party Management

Opportunity

Opportunity

A global tech major had de-centralized vendor management operations and had significant contract leakage, high turn around time on contracting, side arrangements and low compliance on contractual commitment.
The company set up running each Business Unit as an individual innovation center with own funding and tools, unique work culture and the need for community buy in through Proof of Concept and adoption was a challenge with Change Management.
Imagining IT Differently

Imagining IT Differently

ISG assessed governance maturity, change management impediments and implemented a phase approach of Proof of Concept, followed by tower-wise and geographic-wise roll out for centralized support model and robust governance operations.
ISG implemented centralized review of spends for consumption, performance and applicable charges. ISG was able to save more than $1 million in hard savings in year 1 along with increasing support base to over 30 vendors from 10 and implement Service Level checks, Vendor Performance scorecards and data issues within the company.
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Future Made Possible

  • ISG identified gap in industry best practices to internal processes and implemented robust controls to continuously increase maturity.
  • ISG saved in excess of $8 million in hard savings to date and drive robust vendor onboarding, proactive issue management and reduce turnaround time of contracting processes.
  • ISG identified top defaulters through scorecards and worked on “Go to Green” plan to improve vendor effectiveness, reporting and overall compliance against contractual commitments.
  • ISG implemented “Process Excellence” initiatives to improve data quality, implement end to end automation on Company systems and continue to drive improvement.