Why Use BVA Services?
Brooklyn specialises in providing platforms & accelerator services essential for vendor management.
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The Risks Of Limiting Vendor Management
When organisations underinvest in vendor management and contract development, they overlook a significant value source. World Commerce & Contracting states that "suboptimal contract terms and conditions combined with a lack of effective contract management can cause an erosion of value in sourcing equal to 9-15% of annual revenues.". The combined revenue of The Fortune's 2021 Global 500 companies equates to between $2.8 and $4.7 trillion in lost value every year.
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Data Enrichment
Ensure that all vendor and contract records are complete and accurate.
Due Diligence / Risk Assessment & Periodic Refresh
Coordination of Risk assessment, coordinating activity between the buyer and supplier with a regular refresh.
Contract Compliance & Key Term Extraction
Contract scanning, compliance check and extraction of all critical terms such as obligations, SLAs and key clauses.