Do you need to Reduce your Exposure to Supplier Risk?

19th February 2018

Businesses of all kinds need to reduce and manage risk, yet risk management can sometimes seem like a long dark tunnel with no light at the end of it, and as a result many companies never get started and risk continues unchecked.

If you are currently using spreadsheets and emails to maintain contracts, or you are looking to eliminate errors and improve efficiency, then we can help you to centralise your contact register and provide a platform for greater productivity.

Contract Management can help get you started on the journey to manage risk and to help cast some light on the sometimes daunting and overwhelming process of risk management.

The solution can help you with the following:

  • Avoid missing deadlines for reviews and renewals…

Contract Management automatically generates alerts for common tasks such as reviewing or renewing a contract, along with the ability for user to add their own tasks with email and pop-up reminders, meaning that you don’t need to set multiple alerts across multiple systems.

  • Improve visibility of contractor performance…

KPI scorecards can be set up to record periodic service levels for Suppliers on key contracts, with the option of internal staff or Suppliers completing these, which can then be made visible to everyone in your team.

  • Identify and reduce supply-side risk…

Each contract in Contract Management has a Risk Register and Issue Log allowing you to record every current or potential problem or complaint, which is them summarised on a corporate Risk register so you can continually keep track.

Contract Management will save you and your team time by automating routine tasks such as distributing management reports or starting contract renewals on time. And it provides the perfect platform, when you’re ready, to introduce performance and risk management, and tools to track savings, benefits and procedural compliance.

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