Contracts are the foundation of commerce, and they support the entire construction value chain including Engineering & Technology, Supply Chain & Procurement, Production & Operations, Human Resource Management, Partner Management, and Sales & Marketing. Contracts have a direct impact on the revenue and spend of an organization. But have you ever measured how well your contracts are performing for your enterprise?
- Suboptimal contract terms combined with suboptimal fulfillment can cause an erosion of value equal to 9% of a business’ annual revenues. (World Commerce & Contracting Association).
- Managing large capital projects dependent upon goods and services from a global network of suppliers, manufacturers, and agencies during a time of increasing geopolitical and macroeconomic uncertainty.
- Continued pressure on engineering, procurement and construction (EPC) companies concerning ESG, safety & operations, regulations and more, all while increasing top-line and bottom-line revenues.
- With contracts touching virtually every dimension of the Construction supply chain, how can companies ensure the intent of every agreement is fully realized as part of ongoing operations?