Contracts Review
Our risk-informed analysis empowers our clients with the information they need to make decisions that are strategically aligned with their organizational goals.
Risk Indicators
Organizations which ponder questions like these may benefit from an iMC Contracts Review engagement…
- Is our contract inventory adequate?
- What do we think we’re buying?
- Do the contractual metrics drive the intended outcomes?
- How well is the current contracting process working?
- Do the contract owners and managers understand how to drive value out of their contracts?
- Are we effectively managing our business critical vendors?
Our Process
Contract Identification and Classification
Contract Owner and Manager Interviews
Savings Identification
Process Improvement Recommendations
Review Outcomes
At a minimum, our Contracts Review process results in the following outcomes:
- Identify hard dollar savings
- Identify value added services
- Identify contracting process improvement opportunities
Case Study
iMC team members conducted a Contracts Review for a state government entity with 26 at risk contracts. Some of the results were…
- Agency spending $700K on a “training contract” that should have been a much less expensive web hosting contract
- Agency spending $410K with an ineffective family adoption vendor
- Agency spending $150,000 for a psychologist which never saw patients
- Agency 5 year contract with third party had escalating annual 5% increases
Net Result
$37 million in hard dollar savings and $137 million in value added services.
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