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Contract Management best practices can be achieved by implementing spend control. A successful company generates profit but also knows that it must keep cost lean. Spend control is one of the easiest ways of helping an organisation maximise efficiencies.
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Perception and reputation are two things that take commitment to change. Don’t start by promising the world and under deliver. Instead, make a simple pledge to do things better with a one-page summary outlining your strategic vision.
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- Contract Governance
- Performance Management
- Contract Management
- Contract Change Notice
- Managing Issues
- Escalation Process
- Novations
- Supplier Resilience
- Business Continuity Plans
- Disaster Recovery
- Service Reviews
- Supplier Performance Metrics
- KPI Metrics
- Continuous Improvements
- Post Implementation Review
Contract Management & spend control and transparency: The first goal of any procurement organisation is to make sure it has a complete and accurate picture of its spending, that all information is continuously maintained and the database is accessible for procurement professionals across the organisation. Bringing full spending visibility under one roof leads to higher rates of compliance, to the point that maverick spending becomes almost extinct.
How does procurement impact the bottom line?
Be natural. When a new requirement comes up offer your support and begin undertaking some competitive sourcing to help you stakeholders meet their goals. Most companies run a hybrid approach of centralised procurement and devolved activities. Where it is devolved make sure your templates are up to scratch. Where it is centralised your templates need to be near perfect. Remember though, you are more than a template. You add value by walking your client through the process whilst maintaining your position as the commercial “go to” person. Your role is not to sit there and regurgitate words for the tender pack, your role is to lead and advise.
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