With the ever-increasing volume of business contracts encountered by organisations on a daily basis, effective contract management remains a concern for many organisations. Organisations struggle to manage and understand the legal implications of their contracts and struggle to manage the large volume of contract data inherent to their contract base. This lack of transparency, accessibility and oversight poses significant risks for organisations, yet, most organisations are only able to manage this reactively as and when issues occur.
Group professionals assist clients with understanding the requirements for effective contract management, understanding the contract data vital for management and financial reporting, developing policies for contract management, standardising organisation contracts and more.
The group also has access to a custom developed contract management system which can be implemented for use by clients to support the management of their contract data and which provides milestone and task notification and tracking, data extraction, document repository and detailed reporting across all organisation data. The system provides an effective software tool for clients to manage their contracts.