Conductiv ContractsTM simplifies GPO contracting, bolsters spend analytics and unites members with qualified, vetted suppliers to accelerate time to savings
Conductiv®, the leading third-party spend optimization provider and a consolidated subsidiary of Premier, Inc. (NASDAQ: PINC), today announced a new technology-enabled contracting solution for members of its group purchasing organization (GPO). Through an automated platform and data that identifies contracting opportunities with vetted suppliers, the Conductiv Contracts™ platform provides its GPO members with complimentary access to accelerate cost savings decisions and increase revenue streams with ease.
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The new platform is available at no cost to Conductiv Contracts members and leverages the company’s purchasing trends and member spend to analyze and recommend contracting opportunities. The Conductiv Contracts platform delivers a user interface for purchasing professionals that both simplifies and elevates the GPO experience. Rooted in industry best practices, its newest features create significant benefits for members:
- Streamlined price activation enables members to select from Conductiv’s catalog of existing contracts or easily kick-start bespoke sourcing activities, facilitating reduced negotiation cycles, and increasing time to cost savings and activating revenue streams.
- AI-powered recommendations based on Conductiv’s 20+ years of experience and $566 Billion of analyzed spend helps members identify opportunities for shifting spend onto a GPO contract.
- Expanded network reach unites buyer members with pre-vetted, in-network suppliers and affords members the flexibility to bring their choice suppliers on-contract with bespoke sourcing.
- Diversity indicators and measurements reveals opportunities to source and engage diverse suppliers, giving members more control over their diversity, equity, and inclusion strategies and goals for third-party services.
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“Since our inception, Conductiv has led the digital transformation for purchased services sourcing,” said Conductiv CEO Chris Gormley. “We have a passionate team that’s eager to improve the sourcing lifecycle for healthcare and other verticals that have complex supply chains, a variety of stakeholders, and unique sourcing needs. Conductiv Contracts is a long-awaited automated solution that seamlessly integrates with the Conductiv Platform in an intuitive, scalable way, and enables members to access savings almost instantly with overarching strategies, like diversity, equity and inclusion being top of mind.”
Organizations can increase their purchasing power with Conductiv Contracts, which offers specialized expertise in negotiating third-party service agreements, through its catalog of ready-made contracts and locally-initiated agreements and compliments any existing GPO relationships that a company may already have in place. Membership is free and includes access to the new platform.