Contract management is the process of managing contract creation, execution, and analysis to maximise operational and financial performance at an organisation, all while reducing financial risk.
Our Contract Toolkit is about stopping the 9.2% of profit the World Commerce and Contracting (formerly IACCM) says is lost through poor process. If your contracts are sitting in an unvisited filing cabinet, how many renewal opportunities have you already missed?
How much unrecorded goodwill have you given away? Is your contract in compliance?
Contract Toolkit turns contracts into real-time meaningful data that drive lower risk and higher profit from every contract.
We can work with one large contract, several or all your contracts. A whole-world view enables senior managers to target problems and sweet spots alike. Share one version of truth with your client.
Savings depend on your organisation. We have seen a range of 6.2% - 30%
It is easy to upload large complex contracts and convert them into manageable obligations, no matter how big the document. The obligations are allocated to the right person (in-house or at a third-party, e.g. a supplier/customer) for review, action and update on a tracked basis.
Record Change Controls; Claims; Disputes and any Goodwill items against the relevant section to continue to provide a full and accurate record of the contract. Record the agreed interpretation of the contract by the parties and retain one version of the truth over the life the contract.
From the global view of all contracts for the CEO/SRO, right down to a single contract for a single Contract Manager, the dashboards provide a meaningful view of contract performance. The ability to drill-down to the lowest level means process errors and inefficiencies can be identified and remedied in good time.
It is easy to upload large complex contracts and convert them into manageable obligations, no matter how big the document. The obligations are allocated to the right person (in-house or at a third-party, e.g. a supplier/customer) for review, action and update on a tracked basis.
Record Change Controls; Claims; Disputes and any Goodwill items against the relevant section to continue to provide a full and accurate record of the contract. Record the agreed interpretation of the contract by the parties and retain one version of the truth over the life the contract.
From the global view of all contracts for the CEO/SRO, right down to a single contract for a single Contract Manager, the dashboards provide a meaningful view of contract performance. The ability to drill-down to the lowest level means process errors and inefficiencies can be identified and remedied in good time.
1. Contract terms & negotiations focus on real issues
Protects economic benefit & prevents weaponisation of contracts
2. Clear scope & goals for all parties
Reduces the incidence of claims & disputes
3. Wide stakeholder involvement
Facilitates crowd-sourcing to obtain best inputs
4. Contracts are easy to use & understand
Users see how they contribute to business success
5. Contracts & Legal Teams are involved early on
Correct form of contract is used without delay
6. Streamlined negotiations
Cashflow acceleration
7. Contracts are flexible & have sufficient focus on Governance
Enables blame-free performance management
8. Responsible collaboration with customers & suppliers
Crowd-sharing in real-time shared workspace
9. Strong handover from deal team to implementation team
Commitment & obligations are visible and attributable
10. Strong post-award process & Goverance
Value protection
1. Contract terms & negotiations focus on real issues
Protects economic benefit & prevents weaponisation of contracts
4. Contracts are easy to use & understand
Users see how they contribute to business success
7. Contracts are flexible & have sufficient focus on Governance
Enables blame-free performance management
2. Clear scope & goals for all parties
Reduces the incidence of claims & disputes
5. Contracts & Legal Teams are involved early on
Correct form of contract is used without delay
8. Responsible collaboration with customers & suppliers
Crowd-sharing in real-time shared workspace
3. Wide stakeholder involvement from the first step
Facilitates crowd-sourcing to obtain best inputs
6. Streamlined negotiations
Cashflow acceleration
9. Strong handover from deal team to implementation team
Commitment & obligations are visible and attributable
10. Strong post-award process & Governance
Value protection
Good reporting is everything. The CEO needs an overview, a Contract Manager needs detail and both are part of the same version of the truth. Your system will manage alerts and escalations so that nothing drops through the net.
Cloud-based systems enable open and transparent client-supplier collaboration. This forces good governance and traceability thus driving better values for all parties.
Many hands truly do make light work. Ensure that all issues are handled by the right person whether that's one of your own staff or a client or supplier.
Goodwill Registers enable you to record what you give away unnoticed. Whether it is uncharged time, training support or anything else 'free', keep a record and let your customer know how fantastic your service truly is.
Add new controls to your own systems to monitor and highlight issues before they become disputes. This will drive new ways of working as the system does the heavy-lifting.
