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Third-Party Contract Benchmarking in Outsourcing: Going Beyond Cost optimization to Drive Transformation | Blog

Everest Group

This ensures that the organization is getting the best value for money, without compromising on quality or strategic alignment Informed decision-making : Outsourcing contracts often involve complex and multi-faceted arrangements. Consequently, contract benchmarking is evolving to measure these broader outcomes. 

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Reimagining CLM’s Role in the Biopharmaceutical Space

SirionLabs

Keeping this in mind, our flagship contracting platform – Sirion – has been designed from the ground up to heavily automate enterprise contracting and leverage intelligence from past contracting data to lower risk, secure better outcomes, and most importantly, reduce the cost associated with contracting and negotiation delays.

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Reimaging CLM’s Role in the Biopharmaceutical Space

SirionLabs

Keeping this in mind, our flagship contracting platform – SirionOne – has been designed from the ground up to heavily automate enterprise contracting and leverage intelligence from past contracting data to lower risk, secure better outcomes, and most importantly, reduce the cost associated with contracting and negotiation delays.

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Contract Compliance Audit: Overview, Benefits & How AI is Helping

SirionLabs

For example, companies usually schedule annual or quarterly compliance audits to examine: Agreement parameters: Clauses, contractual obligations, service level agreements, payment terms, project milestones, deliverables, etc. Supplier audits can also complement third-party contract performance assessments.

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Third Party Risk and the Contractual Life Cycle

SIG Speaks

The third part has good assessment tools. Using software or information from security rating services makes sure the individuals responsible for Third-Party monitoring can assess the third party. . The last phase of the lifecycle is the end of the contract renewal process.

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Frictionless M&As using AI-Led Contract Intelligence

SirionLabs

As a result, companies often find themselves grappling with a labor-intensive manual review process that requires significant time to identify key risk elements in contracts. In addition, the inability to compare third-party contract clauses to standard enterprise clause language and position increases risk exposure.