Preserve The Value Of Your Contracts
Third party and supplier relationships are vital for achieving core business objectives. These relationships rely on contracts to define responsibilities, contain costs, and mitigate risk. Well-crafted contracts define responsibility, compensation, and risk, but without a monitoring process, the existence of these terms will not guarantee compliance. Many companies find that management of third party agreements can easily fall victim to competing priorities and misunderstandings between stakeholders. Complicated agreements can be particularly difficult to manage if the company lacks industry-specific expertise required to recognize performance issues in real time.
- Develop effective governance and oversight throughout the contract lifecycle
- Proactively monitor contract compliance in real time
- Ensure the effectiveness of operational and financial controls
- Prevent financial losses and mitigate risks related to contract non-compliance
- Promote transparency, accountability, and trust among third parties
Well-crafted contracts define responsibility, compensation, and risk, but without a monitoring process, the existence of these terms will not guarantee compliance. Since many organizations lack verification resources, non-compliance oftentimes appears only after financial loss or other damages occur. Proactive, third party contract audits can detect important compliance issues before they affect earnings, confuse contract terms, and jeopardize key supplier relationships.
We Increase the Effectiveness of your Team
SC&H Group’s Contract Management professionals work as an extension of your existing team to develop and implement process improvements to better ensure compliance with third party agreements.
We offer support at all stages of the contract lifecycle. Whether you are seeking to develop effective service level agreements and key performance indicators, or if you simply need to create more efficient invoice review processes for your management team, our experts are ready to assist.
Our deep industry and category experience empowers stakeholders to:
Achieve strategic objectives
Increase shareholder value
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