Contract Management

What is contract management and why we should manage a contract?

The answer to this question is Contracts are to be methodically managed in order to ensure that financial and operational risk is minimized and vendor performance is maximized. A simple misplaced comma can alter the contractual term of a company and sustain another. There are various instances for the same.

The three main areas:

• Contract Administration: This is the formal nuts and bolts, small and fine print management of the physical contract and adherence to the sections and aim of the contract
• Delivery: It ensures that they meet the service performance and quality that is required.
• Relationship Management: This ensures the relationship between the company and the service provider is constructive and problem free

 

Contract Management is a suite of management activities to ensure that your relationships with the vendors/clients are efficient and profitable.

Our team will vet and will help you to manage the contracts effectively thereby reducing the risk of contractual violations and allow the organisation to deal with its vendors/clients in a safe and secure environment.