BlueCross BlueShield of South Carolina
The ROI of Contract Management - Part One
This is a very interesting topic "The ROI of Contract Management." I have thought numerous times as to how to quantify the merits of Contract Management to my peers who exist outside of the contract management world and have always had to revert to operational metrics : cost savings, cost avoidance, and a whole plethora of hypothetical scenarios of potential contractual landmines that were avoided because either my team or myself were able to navigate the transaction on behalf of the business. As I search for new approaches to sell the merits of contract management to the business I wonder has anyone had any success in identifying what I like to term as the "phantom metric" that the business will recognize on a primal level like direct cost savings or improved operational efficiencies. I think in a lot of cases we have to educate the business to help them recognize the gaps that contract management addresses in the first place which takes both time and an embrace of visionary ideals by the business.