The Lifecycle Index

At Procurement Services, Lifecycle have developed a unique diagnostic tool called the Lifecycle Index. It provides organisations with an assessment of their contract management capabilities. Using our proprietary service, it provides a measure of the amount of focus an organisation should be spending on each third-party supplier contract, based on a combination of risk, complexity and value. 

Identifying challenges and opportunities:

• We assess each contract against the ten activities that contribute towards contract management quality. Our intelligent tool makes this process seamless for every contract.
• The outputs from the Lifecycle Index process act as benchmarks to show where you are today across all your contract spend, and across different parts of your organisation.
• We analyse these results to identify (at both a contract and an organisational level) issues that need attention, and how these should be prioritised across the ten areas of assessment.

It will identify both quantified opportunities and the required resources to achieve the benefits on a contract-by-contract and organisational basis.

For more information on how the Lifecycle Index transforms your approach to contract management, please email Joanna.donohue@csltd.org.uk