Scout Contract Management Case Study
Scout's Objectives
Reduce risk - ensuring contracts do not expire without knowledge, resulting in costly auto renews
Meta data against contracts to easily search and find when needed. Taxonomy needed across all contracts
Need for helicopter style visual analysis to reduce resource time gathering contract information
eSourcing
Need of centralised contract repository with a standardised format and document storage
Audit trail - a change log against each contract, documenting every change to a contract with a timestamp
Automated notifications to keep employees up to date with contract key dates
Scout approached oboloo in June 2021 to improve their contract visibility, reduce resource currently spent on contract management and to remove potential risk.
Prior to oboloo being introduced, Scout were relying on an excel based contract register and shared drive to hold contract documents potential resulting in costly contract auto renews and missed negotiation opportunities.
Solution
Implemented oboloo's contract & supplier management modules
Creation of a customised visual analysis dashboard, focusing on the metrics that are most important to Scout
Built additional automated contract notifications as well as a custom notifications function
Training users on oboloo's contract platform as well as the basics of contract management
Results
- As of Oct 2021, 84 contracts are hosted on oboloo
- Clear opportunities for cost savings have been identified for a number of contracts due to visual analysis
- Suppliers can now upload their own documentation to their contracts, with Scout users in full control of their approval
- The number of missed renewals since using oboloo is currently zero
- Achieved a holistic view of their supplier compliance against contract performance, linking contract records to suppliers
- Time savings, allowing users to access the contracts they should be accessing freely, no longer putting strain on Procurement & Legal teams to pull this information for the business
- Custom notifications – oboloo can send notifications against a contract to a user with a custom alert on a specific date and time
Contracts uploaded, resulting in increased visibility since implementing oboloo
Supporting documents uploaded against contracts