Contracts and Vendor Management
End Hidden Costs & Missed Contracts, with IT Vendor Management
Take control of contracts, supplier performance, and cost optimization with Serviceware Financial. Streamline vendor management, eliminate silos, and make better decisions with one platform.
Contracts scattered across teams
Performance visibility is patchy
Without standardized tracking, underperforming suppliers go unnoticed, eroding service quality and value.
Procurement is disconnected
Vendor complexity blocks decisions
Diverse suppliers, overlapping services, and shadow IT make it harder to act decisively.
Compliance blind spots
Vendor data silos hinder audits, increase risk exposure, and make it difficult to track true-ups or comply with changing regulations.
Serviceware’s 2025 ITFM Trend Report shows that improving financial visibility can reduce cost-related queries by 95%; yet most CIOs still struggle to integrate vendor and contract data across the enterprise.
Read the report
Helping enterprises bring vendor chaos under control
Fabian Mieloch
Product Strategy & Solution Engineering
Contract Management
- Problem: Contracts scattered, renewals missed.
- Solution: Central workspace for contract terms, renewals, and dependencies.
- Outcome: Prevent missed renewals, avoid duplicate spend.
Vendor Performance
- Problem: Limited visibility into service quality and compliance.
- Solution: Standardized scorecards powered by the Digital Value Model®.
- Outcome: Identify underperformers, raise accountability, improve outcomes.
Procurement Support
- Problem: Sourcing decisions disconnected from IT and finance.
- Solution: Shared data and dashboards for negotiation and consolidation.
- Outcome: Smarter sourcing, stronger leverage, lower costs.
Cost Optimization & Avoidance
- Problem: Overlapping contracts and shadow IT drive overspend.
- Solution: Portfolio analysis and scenario simulation.
- Outcome: Reveal hidden contracts, save up to 5% of contract spend.
Cross-Functional Visibility
- Problem: Vendor data siloed in different systems.
- Solution: Connect contracts with service catalog, finance, and procurement.
- Outcome: Audit-ready transparency across the IT value chain.
Plan smarter with AI-assisted forecasts and orchestrated workflows
Product Tour
See how Serviceware Financial turns budgeting chaos into a streamlined process. The video walks through building a central planning model, replacing Excel with governed workflows, and using AI to auto-suggest forecasts. You’ll see how to plan by cost center, project, or vendor, compare scenarios in real time, and cut weeks from planning cycles, all while keeping Finance and IT aligned.
Key Takeaways:
- Replace Excel chaos with one platform
- Align top-down and bottom-up planning
- Test scenarios before you commit
- Use AI to forecast with confidence
- Shorten cycles by weeks
Integrations
See how modern IT vendor management works in practice
In 20 minutes, we’ll show you how to track contracts, evaluate vendors, and uncover savings potential.
ITFM Webinars
Frequently Asked Questions
Centralized oversight ensures vendor management and contract data directly inform IT investment, budgeting, and optimization while improving audit readiness and compliance.
This ensures every IT service is backed by contractual agreements and SLAs, preventing shadow IT and making service costs auditable.
Vendor details, contract terms, SLAs, renewals, compliance docs, and usage metrics. Typical integrations: ERP, finance, vendor management, IT service catalog.
Real-time analytics on vendor management performance, compliance, and spend. Transparent reporting of renewals, compliance gaps, and cost impacts.
Typical outcomes include ~10% IT spend reduction, doubled transparency and shorter cycles. Forrester TEI found 270% ROI and <6-month payback.