Contract management

Intelligent contract management

Intelligent contract management allows you to manage all contract activities systematically and efficiently. This will increase operational and financial performance, and, at the same time, minimise risks.

Are you having trouble finding a contract? Do your contracts contain a variation of terms and conditions? Are you paying too much for contract services? With intelligent contract management, you will have the tools and processes you need to address such issues – and manage the entire contract life cycle more efficiently.

Increasing value throughout the contract life cycle

Working strategically with contract management offers a number of immediate benefits: improved data management, optimisation of time, higher quality of contracts, increased compliance and business ownership to all contracts. In the long term, it helps you to develop a more mature, professional organisation creating impact internally while also helping create efficient vendor relationship management.

At Implement, we have helped a number of clients in a variety of industries increase the value of their contract life cycle activities. We apply the following principles:

  • Measure maturity level – to establish the starting point for your contract management approach.
  • Use best practice contract management systems and tools – to avoid struggling with the basics or reinventing the wheel.
  • Train your contract managers in realising the benefits of a good contract – to make sure to do this early in a tender and contract negotiation process.
  • Get contract stakeholders to use the contract correctly and communicate frequently  to make sure the contract is known and used at all levels.
  • Establish contract governance procedures – to define roles and responsibilities, evaluate performance management and support risk and compliance monitoring
  • Establish a feedback loop – to keep the contract owner informed and alert to any actions he/she needs to take.
  • Build a repository for standard contract templates – to use them as guidelines for new contracts.
  • Adopt a long-term perspective – to use contract management to define future performance measures and compliance strategies. Or use it to generate a link between strategic sourcing and operational procurement.

If you want to learn more about contract management and how your company can benefit from our approach, please contact Nicolai Brehm Suhr or Nicole Bording.

 

Featured clients

DONG Energy Wind Power
More wind energy at lower costs
DONG Energy Wind Power is the market leader within offshore wind energy and has the largest portfolio of offshore wind farms in Northern Europe. By reducing costs, improving quality of delivery and ensuring optimal time frames, DONG Energy Wind Power has managed to substantially improve their offshore wind farm agreements.