Digital Contract Services
Harnessing the potential of digital contracts
As businesses scale, the dependency on cross-functional coordination becomes of paramount importance to achieving business goals. Teams have a lot going on—contracting, compliance with numerous regulations, industry standards, cost pressures, performance management, handling issues and disputes, as well as visibility of agreements spanning various functions, geographies and business units.
Five top reasons that result in complex contracts:
- Digital transformation: SaaS, PaaS, GenAI and cybersecurity
- Value-driven outsourcing: Value creation and outcome-based
- Multi-vendor ecosystem: Hybrid sourcing and onshore vs offshore
- Increase in regulatory and compliance risk: GDPR, DORA and HIPAA
- Introduction of service levels and complex pricing models: SLAs and KPIs link to credits
Maximising value through digital contracts
When it comes to contracts, digital contracting creates a single source of truth for all contracting activities, such as visibility to contracts under negotiations, structured document repository, risk and compliance management performance tracking and financial management. Organisations have now started looking at CLM as an independent source of records, such as ERP, CRM and HRMIS.
The Deloitte India difference
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Our digital contracting solutions assist organisations with providing a structured governance framework to manage pre- and post-contracting activities to minimise risks and manage supplier performance and financials. This helps clients reduce cycle time, build a culture of data-driven decision-making, take advantage of AI capabilities to reduce manual efforts and minimise value leakage.
Anthony Crasto
