MANAGING CONTRACT REVIEWS

Contracts underpin the organisation of businesses across the globe – they are living legal documents that can be an asset or a liability.

Contract renewal should be a time of opportunity:  

* For negotiating better contract terms
* Reviewing process
* Ending poor contracts
* Appointing suppliers under contract who provide better value and    performance.

The Problem:

These opportunities are often lost simply because contract reviews and renewals come and go unnoticed – because contract management SYSTEMS are lacking.   Contracts are likely to be stored in filing cabinets – out of sight, and with no active reminder system is in place.

The Solution:

Contract management software helps companies create structure and be proactive with renewal opportunities.  Contracts reviews aren’t overlooked because:

* Contract management software scans & stores all documents in a single repository
* Contract management software assigns responsibility to named individuals for each contract
* Review dates are programmed into the contract management software
* Automated reminder alerts are sent by email to those named persons, at intervals by the contract management software – actively managing the process and alerting managers in time to act.
* Email alerts solve the issue of contract visibility and missed reviews

Contract management software assists bottom line profits by:

* Reducing costs
* Creating control
* Improving compliance

EPI’s own contract management software can be trialed for FREE for 12 months and the following link www.contractsinthecloud.co.uk.  To find out more about it follow this link to our explainer-video https://www.youtube.com/watch?v=rZfHB-OEynA