Back to top
product-landing-header-hero-bg-image

Transforming contract lifecycle management (CLM) for a global FMCG major

product-landing-header-hero-bg-image

Transforming contract lifecycle management (CLM) for a global FMCG major

Business Problem and Asks

  • A legacy system for contract lifecycle management was intended to be replaced with a custom contracting application to reduce the cycle time of contract management, improve user experience and first time right contracting
  • The team was challenged to manage the project end to end and do the product management to ensure the buyer’s journey is smooth and the necessary metrics for contract management are met and improved

Project approach and deliverables

  • Thoucentric helped in finalizing requirements both from the internal business users and end users and incorporated industry best practices in the product design, product management, training of the users, and deployment of the product globally. Several tools and techniques like voice of customer, interactive learnings using flash cards, etc were used for a successful user adoption and rollout of the product
  • Thoucentric also led the change management at on-site locations across the globe and managed the technical readiness and support team setup
  • Thoucentric helped in developing training modules and ensuring continuous learning support to new Buyers to ensure adoption rates stay high

Business Process Flow

 

Reduction of Forecasting closing time for FMCG major

Business Impact

  • Estimated reduction of ~50% of manhours due to the introduction of new tool
  • 50% Reduction in TAT for contract processing
  • 100% First Time Right (FTR) contracting
  • Sharp (95%) drop in master data errors while publishing to ECC
  • 100% user adoption with a CSAT ~4.5/5

Post a Comment

Subscribe to our newsletter