Contracting Management

Contract Management is rapidly becoming an area of improvement for all companies. In addition to automatic renewals at non-competitive rates, the lack of control of contracts leads to maverick buying.

We can manage everything from small business maintenance contracts to complex multi-site telecommunication service agreements.

Our software will make sure you never miss a renewal date or a commitment level. Our experienced team will be prepared to help you decide where to focus your negotiation efforts and/or when to find alternative vendors.

The key to transitioning from a Reactive Purchasing Department to a Strategic Procurement Organization is a pro-active approach to contracting management. The goals of a world-class supply management organization require that more long-term agreements be established with a fewer number of key suppliers.

Electool' partners are skilled in helping organizations transition to a pro-active approach to contracting management, through a combination of the following services:

Contract Inventory Assessment: We will perform a thorough analysis of a client’s contract inventory, with quantified assessment of Legal Exposure, Required Activity Ratio, Term Administration, Industry Fit, Expiration Exposure, Standardization, Expense Base Capture, etc.

Agreement Development Process: We will map a client’s contract development process against "best practices" to identify optimization opportunities, legal support fee reductions, & other areas of improvement.

Pro-Forma Agreements: Critical to success for today’s procurement organization is the possession of a concise set of pro-forma contracts to be used as a basis for negotiations. We will work with clients and their legal teams to develop concise, industry-acceptable, and comprehensive set of "pro-forma" contract documents. We will also help clients develop an optimum RFP document for use in a hard-copy or on-line environment.

Administration Techniques: Typical procurement departments lose amazing amounts of value through inattention…too many agreements expiring each year, agreements expiring at the same time, "evergreen" roll-overs with uncontrolled escalations, terminations without purchasing involvement, etc. We apply common-sense solutions to each client’s inventory.