Our client had a longstanding relationship with a vendor that had expanded one hospital division at a time, leading to 50+ disparate contract agreements that lacked standard terms or pricing.
We were hired as contract managers tasked with performing a relationship review and optimization process.
Our team led an RFI project to validate that the client was partnered with a vendor who met its business requirements.
Our project manager interfaced with legal, marketing, technology, and vendor stakeholders to transition and consolidate all agreements into our client’s standardized legal templates. This resulted in a reduction in the number of contracts, from 54 contracts to 6.
Our team also negotiated 75 Service Level Agreements to hold the vendor accountable for contract delivery. We established a process where Service Level Agreements were continually revisited in Quarterly Business Reviews, strengthening the relationship on both sides.
Consolidating contracts and implementation of a Quarterly Business Review process for Service Level Agreements resulted in $4M in cost savings across the organization.