Relationship Management
The significant integration of third parties into your operations means successfully managing these relationships is critical to your business performance.
Neo Group Governance Support brings transparency into third-party relationships to ensure ongoing, successful partnerships through:
- Stakeholder communication support
- Supplier site visit planning
- RACI maintenance
- “Relationship Survey” administration and management
- Governance meeting administration
Performance Management
Although, third party performance is often closely tied to Service Level Agreements (SLAs), unfortunately many third-party SLA compliance failures go unnoticed.
Neo Group Governance Support consistently identifies compliance issues and converts them to value through:
- Service level performance reports
- Service level data and analytics
- Service level credit and earnback reports
- Transition milestones and contract deliverables tracking
- Contract conformance tracking
- Continuous service levels improvement
Resource Management
Resource shortages impact the enterprise’s ability to deliver. Effective management and deployment of talent must be an organizational priority for performance optimization.
Neo Group Governance Support contributes to effective resource planning, forecasting, and management thereby mitigating resource shortages through:
- Resource roster maintenance
- Key resource tracking
- On-boarding and off-boarding supervision
- Staffing schedule maintenance
- Transition and knowledge transfer planning
- Attrition and retention tracking
- Resource rolling forecasting
- Data collection for performance management
Contract Management
Today’s Global 2000 enterprise third-party contracts are too complex for manual contract management processes that result in value leakages and significantly increased compliance risk.
Neo Group Governance Support ensures that your diligently negotiated contract value is not lost after the engagement goes live through:
- Contract interpretation and summarization
- Contract maintenance
- Contract change management
- Deliverable and obligation validation
- Document library management
Financial Management
Sub-optimal financial management processes lead to significant value erosion when the underperformance in third-party contracts goes unnoticed.
Neo Group Governance Support benchmarks and institutes continuous monitoring to reduce this risk of underperformance and improve financial metrics through:
- Invoice upload and management
- Pricing table validation
- Invoice validation
- Consumption data verification
- Consumption Analytics
- Contract pricing adjustments/COLA/ECA validation
Risk Management
Compliance and governance failures at your third parties pose significant threat to your business, possibly affecting your operations, reputation, legal and financial health.
Neo Group Governance Support includes continuous risk monitoring that effectively mitigates your risks arising from third-party relationships through:
- Issue management
- Problem area and opportunity analysis and reporting
- Continuous risk monitoring and alerting through Supply Wisdom™
- Cyber scorecard reporting
- Risk scorecards and reporting
- Supplier risk reviews and assessments
