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So, how can you avoid additional costs associated with services provided by your outsourcing partner? At SMC2 we find that many Global Insourcing Center RFPs ask for hourly rates as a selection criterion to support costcontrol or optimization. listen now. .
Improved compliance: A well-managed contract management lifecycle reduces the risk of non-compliance with legal, regulatory, and contractual obligations. Better costcontrol: With the help of contract management tools, organizations can gain a better understanding of their spending patterns across contracts.
– Contract monitoring and management: This involves reviewing and monitoring the contract to ensure that the vendor is meeting their obligations. – Riskmanagement: VCM helps identify and mitigate risks associated with vendor contracts, such as cybersecurity threats, data breaches, or financial instability.
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