Sourcing Management > basic performance management benchmarking

This SIG buy-side member from the finance industry is interested in how you manage routing contracts through Legal. 

Please indicate when answering if you are or are not a financial services organization. In addition, if your organization name cannot be given, please indicate the size of your organization (example: asset size, employee size, Fortune 500 etc).

  1. Who negotiates the legal aspects of your Procurement Agreements?  In-house legal department, imbedded legal within Procurement, outside legal counsel or other?  What is the average contract workload per attorney? 
  2. How long does it take to negotiate a moderate to complex Procurement agreement?  Do you have SLAs on turnaround?  If so, what are they?
  3. Does your organization have a centralized procurement function?  Do all Procurement engagements go through a legal review?  Please feel free to explain the details.
  4. If you are a financial institution, do your high risk engagements get approved by upper management?  If so, what is the process?
  5. Does your Procurement Department or Legal Department have and use their own Procurement templates?

 

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