Ensuring that business partners deliver on their obligations can maximise revenue, protect your brand, improve operational efficiency and reduce cost. Third party relationships are prevalent and important in the value chain, but have frequently escaped validation and verification. Often third parties – outsourcers, suppliers, joint venture partners, distributors and licensees – self report their performance. We are seeing organisations increasingly wanting to verify, as well as trust, their business partners.
Our Contract Risk & Compliance professionals have experience of hundreds of third party reviews across a range of partners and industry sectors.
In respect of outsourcing, supply arrangements and joint ventures, we can establish whether third parties are compliant and delivering expected benefits. We can also help organisations understand if they are managing their own obligations effectively. In the distribution channel, rebates, special pricing, discounts and other complexities can result in error and value leakage. Routine monitoring of business partners can result in improved visibility and value for both parties. In licensing and royalty bearing arrangements, certainty over the accuracy of reporting is crucial as brands are developed, markets explored and products are distributed. Across the spectrum of third party relationships we have the tools, experience and knowledge to deliver value.
In today’s business world, organisations don’t do business alone. They are taking greater advantage of numerous forms of business relationships such as outsourcing, licensing, and alliances to help them operate as efficiently as possible.