Do one Google search for contract management and you’ll see McKinsey listed as the expert authority almost every time. According to their recent research, “Companies are overlooking a significant source of value: suboptimal contract terms and conditions combined with a lack of effective contract management can cause an erosion of value in sourcing equal to 9 percent of annual revenues. For Fortune’s 2016 Global 500 companies, this 9 percent would have equaled $2.5 trillion in value.” ¹
$2.5 trillion. It’s no wonder today’s top sourcing and procurement leaders are shifting their focus towards ripe opportunities, like contract management and vendor relations: both major themes of this year’s SPARK, the only enterprise conference to put Sourcing Center Stage.
At SPARK, guests will access resources needed to make global commerce faster, less risky, and more transparent. No matter your background (Sourcing, Finance, Legal), SPARK will set the stage for take-aways to tackle advancements across process and automation, cost management, skill development, data awareness, and supplier engagement. So, let’s see what’s in store for contract management strategy at SPARK:
Unlock New Negotiation Techniques
Today, fostering a seamless and collaborative experience with your valued vendors significantly impacts success during an agreement process. That’s why we’ve invited some of the world’s top negotiation experts to speak about their experiences, their lessons learned, and their success stories.
For one, McKinsey’s Teresa Liptak will be joining us at SPARK for The Untapped Power of Dynamic Negotiation: See the World from McKinsey’s Perspective. A co-leader of the management consulting firm’s Source-to-Pay and Digital Procurement Services Lines, she’ll speak to lessons learned from hundreds of negotiations, covering billions of dollars in spend. You won’t want to miss this session, considering McKinsey is a global leader on sourcing transformation projects, dynamic negotiation, and supplier relationships.
Plus, Indirect Sourcing Leader of Sleep Number, CJ Anderson-Johnson, will discuss lessons learned in the field as an expert negotiator and walk through her collaborative approach to indirect negotiation that’s making waves throughout the enterprise.
Scout Contracts Deep Dive: Obligations Management, Transformed
No matter if you’re a Scout customer or curious about innovations in technology, we invite you to play around with Scout Contracts at SPARK. We’ll have demos headed by our Customer Success team, as well as first-hand customer testimonials, and a Q&A session. If you want to get your feet wet, we invite you to play around with the platform too.
So, come see why PayPal, Joann Stores, Okta, and Anaplan all rely on Scout Contracts to identify, track and manage their obligations to stay ahead of the curve.
Last but Not Least: Meet Like-Minded Peers in Your Field!
Over 400+ sourcing and procurement peers will be attending SPARK next month, including contract management professionals from all industries. From New Relic to the University of Texas at Austin to Dupont, you won’t want to miss networking opportunities with leaders who have similar experience and beyond.
There’s no question that SPARK’s sessions and keynotes will be incredible, but the guests and spontaneous hallway conversations will be the event’s true takeaways. So, register today and join us February 26-27, 2019.
We hope to see you at SPARK next month!
- “Contracting for performance: Unlocking additional value.” McKinsey&Company. https://www.mckinsey.com/business-functions/operations/our-insights/contracting-for-performance-unlocking-additional-value. Accessed Jan. 22, 2019.