Driving greater value from your third party relationships
The scope and complexity of third party relationships have continued to increase as companies outsource, build capital projects, enter into joint ventures and invest abroad. However, the approach to contracting and third party risk management remains the same as it was many decades ago. Reliance on legal terms is insufficient when value is lost, risk is increased and service is compromised through poor relationships, contracts and management.
Most organisations face the ongoing challenge of maintaining value from contracts and transactions with third parties. This is especially true when the services, products and contractual terms involved are complex, difficult to understand and lack transparency.
Our Commercial Assurance team can enable your organisations to quickly identify savings opportunities resulting in greater value, and also reap the benefits of process enhancements, knowledge transfer and ongoing assurance needed to sustain value across the contract lifecycle. Our experience shows that there are significant financial and operational benefits from a structured approach to managing these critical third party relationships.
"An ecosystem of trust needs to exist between you and any stakeholder or partner who is making and keeping promises on your behalf"