ISG GovernX®

Turn complexity
into clarity.

Third Party Management
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10k

Third-Party Contracts Managed

1.3m

Deliverables and Obligations Managed Annually

350m

of Accumulated Savings USD for our clients
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On average, companies do not track 75 percent of their deliverables and obligations due to ineffectively managed contracts.

Without transparency, you’re likely missing out on cost savings, access to innovation, compliance, deliverables and obligations. You need a single source of truth to realize the full value of your third-party portfolio.

Change the way you manage your third-party relationships

ISG GovernX® is the first third-party management platform that allows you to proactively optimize the value of your supplier relationshipsmitigate risks and manage the contract lifecycle with speed and agility.

Get control of your third-party environment, improve supplier performance and decrease spend. Leverage ISG’s knowledge and insights borne from more than $460 billion worth of enterprise client-supplier transactions.

 

Get a comprehensive view of market intelligence and supplier performance in a single lens.

Reduce risk and complexity in your third-party relationships.

Automate the entire lifecycle of third-party risk management. Minimize exposure to financial, reputation, operational, and identify risk exposure from your third parties. From onboarding, assessments, and remediations to performance monitoring and reviews, gain efficiency by automating your workflow, integration, and on-going notifications.

Reimagine the way you manage your supplier portfolio.

Maintain insight and oversight of your third-party portfolio. Orchestrate and manage your complex environment of third-party relationships in one easy-to-use dashboard. Automate the day-to-day activities of supplier and contract management to free up more time to spend time on strategic initiatives.

Discover how procurement can enable innovation.

Build more strategic relationships with your suppliers. Govern, prioritize, organize and deliver on the full promise of your supplier portfolio. Perform meaningful analysis on real-time governance data through interactive dashboards that drill directly down into transactional data elements.

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Technologies & Integrations

Leverage the right technologies to be more strategic and efficient in governing all of your contracts and avoiding third-party risk.

Technologies

ISG GovernX® is an innovative managed services and lifecycle management platform leveraging the latest technology from ServiceNow, Automation Anywhere and IBM Watson.

Dashboard

A customized single pane of glass into spend, performance and risks across the organization allows you to drive key business insights, quicker decisions and proactive actions.

Easy Integration

ISG GovernX® is designed with an API-first approach, so it integrates easily with your enterprise environment.

ISG GovernX Features

contract workflow

Contract Lifecycle

GovernX makes it easy for businesses to realize the full business value of their supplier relationships throughout the entire contract lifecycle.  By providing stakeholders with visibility into to all relevant contract, performance and financial information businesses can proactively manage relationships to keep them aligned with the changing needs of the business.

Contract Portfolio

GovernX provides AI-enabled contract data extraction and automated workflow management which are fast, efficient, and provide deep visibility that enable better supplier relationships, risk mitigation and value realization across the entire portfolio.

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governx service levels dashboard third party management

Service Level Performance 

GovernX automatically tracks performance against contracted service levels.  GovernX will automatically validate service levels and computes service level credits and earn backs.  GovernX integrates with client enterprise systems such as ERP, service management systems, and other performance platforms, to enable source performance data intake. 

Invoicing Vendors

GovernX eliminates invoicing errors and discrepancies through automated validation of the invoices against the underlying rates and resource consumption data.  GovernX can upload resource consumption data across services through API integration within the client IT ecosystem.

Invoices
deliverable & obligations

Deliverables & Obligations

GovernX will ensure that all stakeholders are held accountable to their commitments by tracking performance against the contract in real-time through workflow automation that drives proactive review and monitoring of all relevant contract deliverables and obligations.

GovernX® Packages

  EssentialsContract LifecycleThird-Party Risk
Data & InsightsExtract and manage contract meta data & documents   
Analyze contract data, rationalize for savings   
Provide insights on compliance, spend, performance & risk   
ManageEnsure contract compliance and administer change   
Validate and optimize spend, minimize value leakage   
Confirm delivery performance, maximize value of relationship   
Author contracts, proactively manage renewals & terminations   
Assess risk through questionnaires & mitigate risk   
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Want to know more about GovernX®?

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How Well Do You Know Your Suppliers?

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As your supply chain grows and you rely more and more on third-party relationships to meet your objectives, the job of monitoring and managing these relationships grows. Visibility begins to shrink – and it becomes increasingly difficult to know your true exposure to risk. But managing the risk posed by your suppliers and the value they generate to your business is more crucial than ever. It is essential to your organization’s effectiveness and protecting its reputation.

Headlines of ransomware attacks, massive data privacy breaches, supplier governance inadequacies, and social injustices, such as modern slavery practices buried deep in a supply chain, are calling into question the reputations of well-known brands. More often now, the line between a positive headline and a negative one can be tracked to a single event resulting from an overlooked supplier control.

The key to effectively managing your supplier relationships is information. Unfortunately, most organizations lack a complete view of their third-party relationships and cannot afford the time and resources required to maintain the information necessary to manage these relationships. The information necessary to effectively manage a supplier relationship should include:

  • Supplier controls and contractual commitments regarding the products and/or services being provided.
  • Supplier performance, including the ability to meet business expectations and maintain risk controls over the lifespan of the relationship.
  • Supplier risk profile, including risks inherent to the relationship and the adequacy of supplier controls that have been put in place to mitigate these risks.

To manage the complexity and dynamics of a supplier ecosystem, enterprises need for a holistic third-party lifecycle framework. This is the one of the most critical tools an organization can use for monitoring and managing a supplier base. It not only provides analysis of internal and external information sets, but allows you to turn the information into actionable intelligence to address potential problem areas before a negative event occurs.

ISG GovernX® is a comprehensive third-party management framework. It supports a practical, holistic supplier management approach by:

  • Using AI to extract key obligation and risk profiling information from your contracts
  • Gathering risk profiling information from stakeholders who are best positioned to understand the supplier relationship
  • Identifying potential high-risk areas and gathering the necessary information from suppliers to determine the adequacy of existing controls
  • Automatically tracking supplier performance against contract obligations and service levels
  • Reviewing the accuracy of invoices for service agreements
  • Enabling executive insights and benchmarking key commercials against the market

ISG GovernX® gives organizations everything they need to maintain insight and oversight of their third-party portfolio. With real-time transparency into suppliers – enterprises can mitigate risks to performance, sustainability, information security, labor standards and other regulatory requirements.

See for yourself how ISG GovernX offers a foolproof way to manage risk across the entire lifecycle of your third-party relationships. Or contact us today to discuss how ISG GovernX can help you.

About the author

David offers over 25 years of experience in information technology outsourcing with extensive experience in vendor management, change management advisory services. David has provided outsourcing advisory services for a number of clients supporting RFP development, provider selection retained organization design, vendor governance and obligation management. David has been with ISG for over 6 years. Prior to ISG, David had Account Management responsibilities at EDS and was a Business Process Reengineering consultant at A.T. Kearney. David has extensive international ITO experience and spent more than 11 years in Asia where he led numerous business transformation and IT transition projects.

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Meet Our ISG GovernX® Team