Contract Management - your contracts are your business
Did you know that 90% of enterprises view effective creation, monitoring and management of contracts as either "very important" or "critical" to overall business success and that 81% of companies report that locating a contract is problematic? (IACCM survey of 2000 companies).
Organisations spend a lot of time and money negotiating contracts. All the effort undertaken through the pre sales negotiations, acquisition planning and supplier evaluation process is of little value unless the intended benefits are actually realised during the period of the contract. The key to effective contract management is having a clear set of contract outcomes and actively working to ensure the delivery and achievement of these requirements. Managing the contract and monitoring the performance of the delivery to the customer or from the supplier is crucial to achieving the intended objectives of sales and procurement.
Without a contract management solution organisations and managers across an enterprise can, over time develop their own sets of rules with respect to contract creation and management. A well run contract management system helps drive internal compliance by providing effective reliable controls and systems for key financial processes.
Take a minute to consider how contracts are managed in your organisation.
- Can you see all your contracts, the consumption and or spend against each contract and the relevant expiry and renewal dates?
- Can your organisation manage their contact related obligations and entitlements with any degree of reliability?
- Would you like to reduce your contract administration costs?
- Can you find your contracts at any point in time?
- How much did you spend against any specific contract last year?
- Do you have full visibility of agreed service levels?
- Are your suppliers invoicing accurately based upon the contracted pricing?
- Are your purchase orders raised prior to the contract being approved?
- Can your organisation gain efficiencies through process standardisation?
- Do you want to reduce contract negotiation timelines?
- How easy is it for you to update all contracts with a single clause?
TAMS can deliver a Contract Management Solution using standard SAP that can solve these issues for you. The TAMS Contract Management Solution covers all contract types including, but not limited to, sales, procurement, marketing, HR and internal contracts (for example project approvals). The solution we deliver covers the entire contract management business process:
During the entire contract business process your organisation has complete contract visibility and awareness to ensure you achieve optimal results from your contracts. The solution allows you to create a library of standard contracts and contract clauses to standardise contracts throughout your organisation. All your contracts are stored in a central repository for easy access and reporting.
With our solution you will be able to: standardise processes, increase organisational efficiency, reduces cycle and processing times, enable the management of contract performance and compliance and ensure all legal and regulatory requirements are met.
How much is your organisation losing by not implementing the TAMS solution?
This solution can be implemented in approximately 3 to 6 months so your organisation will receive a quick return on your investment. TAMS can also provide assistance and KPI reporting to ensure your identified business case benefits are delivered maximising the returns on your SAP investment.
If you would like to learn more about how our Contract Management Solution can streamline and standardise your contract management processes as well as save you money we can come to your organisation and deliver a free half day Contract Management Workshop. Request a Contract Management Workshop, or simply contact us.
solutions, not just software