At the pre contract stage if you are selling or procuring services this usually deals with the scope of the contract that parties wish to enter into as well as producing the relevant paperwork. Following signature of the contract, during its life until contract termination is referred to as post contract through contracts management governance. Managing this from end to end is the contracts management lifecycle and managing contracts.
Whether your business deals with a customer contracts or supplier contracts either at presales, point of contract, at contract renewals or as per examples below a contract is going to come up.
This big deal need to be signed it is to be top of your list only to find it’s not a done deal. By zoning in on the orders as per the priority which will actually close for that quarter end.
Engrossed in day-to-day activities and hundreds of customer contract or supplier contract renewals just don’t happen hitting your bottom line. It does not take long to get organised with your renewals.
We don’t really use much of the supplier services but we’ll keep on paying those fees, this may lead to getting less value for the money. There are opportunities for savings with a contracts renewal strategy.
The services below are either dealing with a business implementing new contract management function, support existing new business or managing any part of an existing contractual risk is contract management governance.
This consultancy service is for those businesses wishing to manage pre contract with correct scope and agreements. We will consider some of the following components:
Initial conversation: Ensuring there is presales coverage prior to disclosing any commercial or sensitive information with a non disclosure agreement.
Presales support: Review of any terms during presales and potential risks to new business.
Negotiate a deal: Mapping requirements in contract statement of works, review of fees, service delivery, service credits and KPI’s review of terms and produce responses. Whether external specialist is required.
Business case: Engaging the key stakeholders to gain approval on contract risk and the deal prior to contract signature.
This managed services below are dealing with business requiring continuous post contract support for some time with contractual risk in addition to any of the above.
Contract changes: During the contract management lifecycle there may be changes with addition or reductions this can be catered for with a change control or amendments.
Termination: Discuss with the business whether to continue with the service or terminate with a letter of termination.
Contracts renewal: Stay on top of contract to avoid a non renewal or further delays.
Benchmarking: To engage a third party and carry out a market review on supplier contract fees.
Savings: Consider the opportunities to introduce savings in line with for example the renewal strategy.
We provide expert consultant(s) with a number of years of industry experience having negotiated previously service agreements and master services agreements. Some of our benefits include:
Initial audit and gap analysis
Improvement plan and priority
Regular summary
Approval by leadership
Demonstrate governance
Your business may have support requirement in one or more area why not talk to us and see if can assist with your contracts or introduce savings with our consultancy contract management service by emailing info@certaintysolution.com or request a proposal from us.