Effective contract management with a contract register
Elevate your contract management with our Contracts Register service. Implementing effective contract management systems using a dedicated register streamlines negotiations, oversees lifecycles, helps avoid cost increases from expired contracts, avoids rolling contracts, ensures compliance, and mitigates risks seamlessly. Gain a robust framework that optimises your contract processes, fostering efficiency and risk reduction within your procurement strategies effortlessly.
How it works
-
needs assessment
We conduct a thorough needs assessment with you to understand your specific requirements, goals, and challenges related to contract management. We identify the scope of services needed, such as contract negotiation, compliance monitoring, and performance tracking.
-
data gathering and contract inventory
We collect all existing contracts and related documentation from your organisation. This includes contracts with suppliers, vendors, and other stakeholders. We create a comprehensive contract register, detailing key information for each contract, such as terms, expiration dates, obligations, and parties involved.
-
system implementation
We implement a contract management system to organise and centralise the contract register to track and manage contracts efficiently.
-
data validation and cleanup
We review and validate the accuracy of the contract information in the register, identify any discrepancies or missing details and work with you to rectify them. We clean up and organise the data to ensure it aligns with industry standards and best practices.
-
contract categorisation and prioritisation
We categorise contracts based on their type, criticality, and strategic importance. Then prioritise contracts based on factors such as renewal dates, financial impact, and risk levels.
-
reporting and analysis
We provide regular reports to you on the status of contracts, compliance levels, and any identified opportunities for improvement. We conduct periodic analysis to identify trends, risks, and areas for optimisation.
With our Contract Management service, you can effectively manage your contracts
- We bring specialised expertise in contract management. Our knowledge of industry best practices, legal requirements, and market trends ensures that contracts are managed efficiently and effectively.
- Expert contract management helps identify and mitigate risks associated with contractual agreements. This includes compliance risks, performance risks, and potential legal issues, reducing your organisation's exposure to various forms of risk.
- Outsourcing contract management with a well-organised contract register enhances overall efficiency. Streamlined processes, automation, and effective use of technology contribute to increased productivity in managing and monitoring contracts.
- Our contract register ensures timely renewals and compliance monitoring. Automated reminders and a systematic approach to contract tracking prevent oversights and facilitate proactive management of contract obligations.
- Our contract management can include strategies for effective supplier relationship management. This ensures that relationships with suppliers are nurtured, leading to improved collaboration, better communication, and a higher level of value derived from these partnerships.
- Our contract register provides transparency into the status and performance of contracts. Regular reporting enables your organisation to assess the effectiveness of contracts, track key performance indicators, and make informed decisions.
No simpler way exists to transform your organisation’s procurement than with our services.
We provide different packages granting access to expert tools and guidance, enabling you to achieve procurement maturity faster.
Our services cover Procurement Maturity Assessment, Spend Analysis, Strategic Procurement Strategy, Policies & Procedures, Sustainable Procurement, Contract Management, and more.
Choose from our subscription plans – Rapid (£5,300/month) or Boosted (£7,999/month) – offering a range of services and benefits.
Get started today and witness your procurement practices reach new heights, effortlessly.
