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Contract Management
SYNOPSIS
• INTRODUCTION• DELIVERY MANAGEMENT• RELATIONSHIP MANAGEMENT• CONTRACT ADMINISTRATION• CONCLUSION
INTRODUCTION
Contract Management is the process of handling contracts from vendors, partners, customers or employees. The business world is changing. New ways of driving revenue are forcing companies to create the way they manage the customer life-cycle- making contract management more important than ever before.
• In order to get a hold of this concept more clearly and in more holistic way, let’s dive into it! Category management activities can be broadly grouped into three areas-
• Delivery Management• Relationship Management• Contract Administration
Delivery Management:• Ensures that whatever is ordered, gets delivered in the conformance with the
contract in terms of quality and performance. Delivery management may include checking with the nature, quality and quantity of:
• goods supplied• works carried out• services provided
Relationship Management:
• Seeks to maintain the healthy relationship between the Vendor and the Contracting Authority with the aim of resolving or easing tensions while identifying opportunities for improvement. Relationships must be entirely professional throughout the cycle.
Contract Administration:
• Covers the formal governance of the contract and any permitted changes to documentation during the life of contract.
Challenges of Contract Management
• Manual contract management introduces bottlenecks into the sales cycle• When the contract has to be managed manually, the contract management
gets bottle-necked.
• Manual contract management introduces manual errors• If the legal team will not catch mistakes, then the following errors may occur• Non compliance• Revenue leakage• Extended sales cycle times• Jeopardized customer relationships
• Conclusion: When you manage the relationship properly, you reap a variety of benefits.
CormSquare is cloud based procurement platform targeted for small and medium enterprises (SMEs) and bulk purchases. CormSquare is native end-to-end procurement software with private market. CormSquare automates procurement process, greatly reducing time. It also helps find right suppliers at lower price. CormSquare saves procurement cost and ease of procurement.
www.cormsqaure.com
Our Customer Relationship Officers (CROs) can assist you with finding suppliers, supplier competency assessment and supplier audit. Based on your requirement, our relationship officers can find local, national or global suppliers.Our Customer Relationship Officers (CROs) can assist in raising RFQs, RFIs, receiving quotes, compare technical and commercial quotes, purchase order management, delivery/document tracking and payable processing.Our Customer Relationship Officers (CROs) can analyses your procurement data and provide actionable intelligence.
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www.cormsquare.com
• Assisted Purchase – buyer receives customized quote from cormsquare’s procurement professionals.
• End to End E-Procurement Suite on cloud, that helps buyers in managing enterprise purchase.
• Seamless Responsive Interface which works across devices. • Digital B2B Store front for supplier with digital catalogue, ePayment and
eProcurement Services • Mini CRM Tools and Digital promotion assistance to our stakeholders. • Collaboration with supplier to assist in Customer acquisition, engagement. • Helping manufacturing and Buyers to master the transformation of their business.
Contact Us
Contact: +91 9108992330, 080- 4165 5407 080- 4204 9707
www.cormsquare.comwww.facebook.com/cormsquare
Regional Office #131, 2nd Floor, 7th Main, JayaNagar 4th Block, bangalore – 560011.
www.cormsquare.com
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