Case Study- Contract Savings
A Fortune 500 luxury brand corporation headquartered in New York City struggled to maintain its warranty, license, subscription, and maintenance contracts. With the number of contracts in the thousands, the firm could not keep up with expirations or renewals.
NAKA was selected to implement a global Lifecycle Management system for the firm.
With assets spread out among more than 50 worldwide facilities, the first task was to conduct a corporate-wide survey to identify all hardware and software associated with existing contracts. After determining which assets were no longer in use, the NAKA team negotiated releases from those obligations. Additionally, some critical warranties and maintenance contracts had expired.
The NAKA team conducted cost-benefit analyses to determine the value of reinstating subscriptions and then negotiated favorable terms. The team further identified opportunities to reduce the number of contracts and streamline document management.
NAKA’s Lifecycle Management team consolidated the firm’s thousands of subscriptions, licenses, warranties, and maintenance agreements into five global contracts, all co-termed to one renewal date. Any new purchases fall into one of these umbrella contracts.
In addition, the NAKA team produces monthly reports showing all obligations, key dates, location of assets, and other actionable metrics.
NAKA also helps the client budget for next-generation upgrades and refreshes. As a result, the client has saved millions of dollars through multi-year agreements and NAKA’s negotiating power.