The core of spend optimization is all about enhancing value. How can that be accomplished? Through contracts, of course, and the Value Cycle: a simple process that helps maximize those benefits from contracts.
The Value Cycle is made up of three components:
1. Assessing how contracts deliver value.
2. Ensuring those contracts are cost-efficient.
3. Managing contracts throughout their lifecycle.
To find out more about the Value Cycle, watch this Whiteboard Wednesday video below.