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Contract Management

Contract Relationship management is a business practice that allows an organisation to continually review an existing business agreement or contract , evaluate contractor performance over the contract term and to create a culture of continuous improvement.

So what does this mean in reality?

A successful procurement process has been conducted. Prices and terms are significantly better than what you have previously enjoyed. Quality of the product or service has even been enhanced. This should mean fantastic savings for your company. 

Well those savings may not be realised if you have failed to put in place at the start of the procurement process an effective contract management strategy, properly resourced and with people with the correct skillset to manage it.  

Too often we see savings being lost or failed to be realised through little or no thought being put in to effective contract management.

Starting with contract governance through to establishing and managing meaningful Key Performance Indicators that drive value for money and drives innovation and continuous improvement, Spend Solutions can support you. Where required we can undertake this crucial aspect of the procurement process for you.

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