Vodafone Procurement Company (VPC) manages around 1000 high-value contracts as part of the 50,000 overall contracts, and procures more than 60,000 items involving more than 5000 suppliers, serving 30 local markets. And these numbers are expected to grow in the future.
The VPC team used to identify high-value contracts and manually update the contractual terms which were time-consuming and vulnerable to human errors. Contract processing also involved identifying and preventing value leakages, which was again manual and time-consuming, accounting for almost 30% of their time. This created bottlenecks in the processing of contracts and affected future planning Another challenge faced by VPC was that they and their suppliers maintained multiple versions of the same contracts during the negotiation and reconciliation processes, which resulted in longer contract lead times and value leakages. To manage all these processes there was no digital pricing repository and, the cataloging process was highly manual and labor-intensive.
Another major problem that is faced by the Vodafone Procurement Company (VPC) is that they along with their suppliers maintain multiple versions of the same contracts, during the negotiation and reconciliation processes which results in longer contract lead time and value leakages. To manage all these processes there was no digital pricing repository and the catalog process was highly manual and labour-intensive.
