Being in control of contract coverage helps drive savings, reduce risk, and improve procurement decisions. However, many organizations struggle to see how their contracts align with actual spending, leading to missed opportunities and unmanaged supplier relationships.
Ignite connects your contracts and spend data, making it easy to identify coverage gaps, track off-contract purchasing, and ensure spending stays within preferred agreements. With clear visibility by total, category or business unit, you can optimize costs, strengthen supplier relationships, and get more value from your procurement strategy.
📑 Mastering Contract Coverage
Ensuring control of contract coverage requires both visibility into agreements and control over the spend. We break this challenge into two key parts:
1. You need to identify gaps in contract coverage
Before optimizing contract usage, you need to understand where your spend is not covered by formal agreements. With Ignite, you can link spend data to contracts, quickly spotting gaps and identifying suppliers without agreements. This helps reduce unmanaged spending and ensures procurement aligns with negotiated terms.
2. You need to be in control of contracted spend
Once gaps are identified, staying on top of contract compliance is key. Within our various overviews you can track contracted spend by category, business unit, or supplier, ensuring purchases stay within preferred agreements. This visibility helps control costs, strengthen supplier relationships, and improve overall procurement efficiency.
Together, these two parts of the Contract Coverage feature help you maximize contract value, reduce risk, and drive smarter procurement decisions.
Are you ready to start tracking contract coverage?
Click the button below to learn about how you can start doing so!