Track and manage all your contracts from bids and tenders within a single dashboard with the added benefit of competitor intelligence.
All contract data in a single place
Automatic price overrides detection
Detailed contract competitiveness KPI
Problem
Our client, a life science company, is actively and regularly participating in thousands of government bids and tenders for the supply of patient care products. As such, they have accumulated large amounts of data about all the won bids and tenders. However, this data was scattered across multiple ERP systems turning contract management into an uphill battle. Our client found it impossible to see all the completed contracts from bids and tenders in a single place, and a lot of manual work was required to acquire more in-depth details. On top of all of that, it required even more work to collect and consolidate information such as revenue by contract category or to categorize contracts based on different criteria. This made it near impossible for them to grow their operations in terms of government bids and limited their ability to employ data-driven decisions.
Solution
We created a comprehensive dashboard that collects all our client’s data from several ERP systems and introduces many advanced analytics algorithms to help with their current processes. Our solution provided our client with access to information that was previously thought to be impossible to acquire. When the company wins a bid, the contract is immediately added to the dashboard, and the revenue and other important information is also extracted and visualized. All won contracts can be seen, filtered by type, revenue, and date, and ranked based on various criteria. The dashboard also tracks contract status and lets the user know if a contract has been renegotiated or if a new contract with updated terms has been signed.
The dashboard also takes into consideration unique situations, such as price overrides. For example, when a product has been delivered but has not been invoiced for a long time, and once it is being invoiced, the contract has expired or has been renegotiated. Then our solution takes the details from the expired contract, compares them to the new contract, and the price is adjusted to the initially negotiated amount from the original contract. In this way, custom contract terms are easy to track and nearly impossible to miss.
Another handy feature of this dashboard is the competitor intelligence and the contract competitiveness evaluation. Visual KPIs quickly highlight to the user all the contracts lost to competitors and who those competitors are. It also provides the user with reasons why the bid was lost – whether the price was too high, slow manufacturing, or something else.
Success
Due to the dashboard’s many functionalities, it is actively used by higher management, bids and tenders teams, sales teams, and regional directors. Access to information is quick, easy, and, most importantly, comprehensive. Never before has the company had so much information and control over contracts at its fingertips. It makes it easy for data-driven decisions to be taken and for operations to be expanded. More contracts are won now since management knows the reasons for losing certain bids and contracts. Business-client relations are at an all-time high since the number of disputes is significantly reduced.
