How much will TRAC add to your bottom line?
Answer 5 questions in just a minute of time to see how fast your TRAC investment turns into results.
There’s no doubt that there are clear benefits to supporting contract and supplier management processes with dedicated software.
The question however is: How much better could you be doing in realizing savings, avoiding costs, reducing risks, improving service quality and optimizing service provider relationships, when using technology to support your third party governance efforts.
How fast can you reach ROI? We’ll show you how quickly the payback adds up when using TRAC.
Simply fill in the empty fields in the right hand column to start the ROI calculation. We’ve included market average default values to limit data entry, but you can adjust them depending on your specific situation. The ROI calculator provides and initial estimate and is provided for information only. Results are not guaranteed and depend on your particular circumstances. With that being said, we would welcome to meet with you for a deep dive into your potential savings and share how TRAC can improve your sourcing governance practice, how we live up to our commitment to delivering results and how we implement in a matter of just a few weeks.
Quotes regarding contract management software ROI:
|Unrealized value is estimated between 17 and 40 percent due to ineffective governance of third party contracts.
|Goldman Sachs estimates that companies spend almost 5% of their reveneu to track agreements after signing a contract. Companies using contract management software can reduce annual contract management expenses by 20% - 50%.
Source: Goldman Sachs
|The IACCM estimates that 9.2% of an organization's revenue is potentially lost due to poor contract lifecycle management. They add that commercial and contractual issues are the primary cause in over 70% of troubled relationships with buy and/or sell side vendors.
Source: International Association for Contract & Commercial Management
|Value leakage in outsourcing contracts can have significant consequences – as much as 30% - 50% of total spending.
Source: Everest Group
|PriceWaterhouseCoopers has found that 12% of a company's total annual costs may be devoted to contract management and administrative tasks.