Over $90 Million Per Year Reduction In Revenue Leakage From Implementation
Global Obligation Management System (OMS) Implementation
Fortune 500 IT Services Company
Challenges
- Manual management of obligations by over-stressed onsite CCMs
- No centralized obligation repository
- Missing contractual obligations
- Incurrence of penalties
- Under/ over performance of contractual obligations
- Revenue leakage
- Client dissatisfaction
Solution
- Introduced automated management of obligations via tool
- Mentored third-party service provider on obligation management process
- Worked with onsite CCMs to enforce importance and usage of OMS services tool
- Ensured all critical contracts were input into the tool allowing automated obligation management
- Trained and spread awareness of importance of performing obligations
Benefits
- Automated management of obligations
- Availability of time with CCMs to focus on high-priority activities
- Reduction in revenue leakage
- Well managed contracts, effective change control
- Improved revenue assurance
RESULTS & INDUSTRY STANDARDS
This Fortune 500 IT Services Company experienced over $90 million per year reduction in revenue leakage once integration of automated obligations management.
Industry Comparison: 10% of ACV reduction in revenue leakage and 100% improvement in obligation compliance