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filler@godaddy.com
Signed in as:
filler@godaddy.com
Background
The client operated a number of businesses across Queensland, with no formal process for approving, signing or storing supplier contracts. As a result a number of legacy, site based contracts existed, which created a risk through lack or visibility & contracts with poorly negotiated terms. As they moved towards more centralised sourcing, they wanted an effective system to better manage supplier contracts.
Project overview
Spend Solutions was engaged to develop a system to manage the approval, signing & storage of supplier contracts. Given the client wasn’t a huge creator of supplier contracts, Spend Solutions proposed to create a low cost system using existing software, rather than purchase dedicated contract management software.
While the contract register formed the core of the system, it would not eliminate rouge contracts from being signed. Therefore a process to control how contracts were approved & signed, including policies, procedures & forms was developed. In addition, a guide to best practices for managing contracts was also developed to help stakeholders obtain greatest value from the system in the future.
Project Outcomes
A comprehensive contract management system was developed for the client with no software purchase costs. The system had a clear, formalised process for requesting, approving, signing, storing & managing contracts that the client was able to communicate to its staff.
Once all relevant contracts were entered into the contracts register, the best practice guide ensured that the client got the most out of the system & helped to manage changing or expiring contracts.
Overall, implementation of the contract management system created significant benefits including-
· eliminating unnecessary contracts.
· ensuring contracts were approved & signed in line within organisational requirements.
· Ensuring contracts had the opportunity to be reviewed & renegotiated if required prior to signing.
· visibility over all contracts in a central repository.
· Ability to identify & manage expiring contracts.