It really takes two to tango. Managing contracts was never meant to be within the four walls of your enterprise. Collaborative contract management today offers organizations opportunities to mitigate those countless risks that haunt supply chain operations. During this session, contract management professionals share their experiences with how working in tandem and on a real-time basis with their counterparts has helped them to identify and address compliance leakages, supply chain risks, and savings opportunities.
Best Practices for Implementing an External Recruiting Partnership
Unlock True Contract Management and Maximize Return on Investment | Ariba LIVE Rome
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Unlock True Contract Management and
Maximize Return on Investment
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Speakers
• Sundar Kamakshisundaram – Ariba, an SAP Company
• Irina Ovsiyevitsj – Ariba, an SAP Company
• Peter White – Ariba, an SAP Company
9. 9Confidential
VALUE OF A CONTRACT MANAGEMENT SOLUTION TO LVSC
Controls Tool to ensure compliance to the contracting process
• Global system of record (SOR) for all LVSC contracts
• Ensures that Legal and Sr. Management approval workflows are followed
• Facilitates the appropriate signature through eSignature capability and
automatic storage of signed document
• Access control that allows users to see contracts related to their areas
of responsibility
• Develop and quantify process improvements
10. 10Confidential
GLOBAL SYSTEM OF RECORD (SOR)
Global System of Record (SOR)
Contract Management system that has:
• Standard processes
• Easy access to contracts details and analytics
• Allows for compliance audits
Legal Entity or
Property
Date of
Deployment
Contracts
2012
Contracts
2013
Contracts
2014
Corporate April 2012 276 444 123
Bethlehem May 2012 64 98 12
Las Vegas June 2012 325 885 116
Marina Bay Sands August 2012 287 1,087 160
Macao June 2013 1 848 403
Yearly Totals 953 3,362 814
Totals 5,129
Contract Data as
of February 27th
Contract Data as
of February 27th
12. 12Confidential
REQUIRED APPROVAL WORKFLOWS
• Required Approval Workflows
3 Types of Approvals are used at LVSC:
Contract Request approval by Department Vice-President
Legal review of the contract
Sr. Management approval of tentative contract
- Legal review completion is a predecessor to Sr. Management approval
• Approval routes can be built on many factors such as dollar amount, General
Operations vs. Capital Expense, etc
• Approvals can be completed by email; email can be configured with
document/summary information
• Active Approval report in analytics allows for approval follow-up