Enterprises can now leverage cognitive technology and optimized workflows to mitigate supply chain risks and deliver up to 30 percent more value from their outsourcing spending with ISG GovernX 2020, the newest version of the ISG digital supplier and risk management platform by Information Services Group (ISG).
ISG GovernX 2020 automates the management of the entire end-to-end contract lifecycle and provides a complete, customized “single pane of glass” view of the user’s contract and supplier ecosystem to improve supplier performance, decrease spend and reduce third-party risk.
ISG GovernX 2020 users now can easily manage new contracts and proactive renewals, make timely amendments and handle contract terminations – all on one platform.
To strengthen crisis response, ISG GovernX clients are able to review providers’ business and IT continuity plans and procedures, validate they meet requirements and ensure service delivery performance will remain consistent even if continuity plans are invoked.
ISG GovernX 2020 aims to maximize value
ISG GovernX 2020 digitally stores all contract deliverables and obligations, key clauses, and other meta data. Users can retrieve key information, manage each version of every contract and document via the document library, and stay current on spending and delivery. Automated alerts and interactive dashboards allow immediate responses to delivery risks and ensure no deadlines are missed.
To maximize the value in supplier relationships, the platform uses advanced predictive analytics to identify and act on key supplier performance and cost metrics, while also assessing supplier delivery against schedules, regulations and specific contract requirements. Enhanced automation also validates invoices against contractual baselines and flags discrepancies, identifies exceptions and tracks savings, delivering up to 30 percent more value from outsourcing spend.
ISG GovernX 2020 is built on the ServiceNow platform, with easy integration to other enterprise applications and connections to ISG tools and insights, such as benchmarks, assessments, research and total-cost-of-ownership evaluations.