Complete Contract Governance
The Need For Effective Contract Governance Software
Imagine, you have recently taken over the management of a major service agreement from a colleague. Contract files and communications between the parties are incomplete, and records missing. Records indicate that performance standards are being achieved and customers satisfaction is high. Actual discussions within members of the contract management team suggest otherwise.
You have finally been able to locate a hard copy of the service agreement only to find that it had not been signed by the provider, and although the specifications included a number of key performance indicators, they did not contain any objective and measurable performance targets.
To make things worse, on closer inspection of the agreement you realise the option expires in three months time without any further unilateral right of renewal. This is particularly concerning to you because there is no obligation on the provider to continue to provide the services upon expiry, and there is no mechanism in the agreement to determine the schedule of rates beyond the existing option period.
In order to go to market and award a new contract, then to transition into the new contract, twelve months, would be required. As a result, you have little or no option other than to apply for exception circumstances to extend the existing contract for a period of eighteen months.
Exceptional circumstances is granted to extend the current is granted but it comes at a significant cost and additional risk to your organisation. Consequently, value for money is not achieved.
If this sounds familiar to you – Don’t let it happen again.
In a time where governments are increasing their reliance on providing services by contract arrangement s with external providers, the need for effective contract governance technology to be able to monitor performance and compliance has never been greater.
Are you getting the return on investment you deserve from your current contract management software!
TRACPro revolutionises how local government manage contracts with external providers. Leveraging the latest advancements in ‘cloud’ software softare, and designed on best practice principles, TRACPro provides internal and external stakeholders greater visibility and control over their contracts.
Some Key Features
Panel management made easy. Regardless whether the panel employs a rank, rotation or quotation method, you will gain better visibility over panels by being able to centralise and capture use, ownership and performance data ensuring more informed decision-making and greater compliance.
More Pro-Active Contract Management
Support more pro-active contract management from pre-award through to close-out by being able to schedule up to thirty different types of automatic reminders and notifications across all aspects of the contract management lifecycle.
Easy to Use
Improve user acceptance and engagement by implementing a system that is designed for public sector contract management.
Achieve better visibility across all aspects of a contract by creating a contract governance plan at a press f a button ensuring stakeholders can be kept informed about their roles and responsibilities, and compliance.
Avoid Duplication and Improve Statutory Compliance
Enter contract information once. No matter the state or territory you are in, you can now satisfy disclosure of contract requirements through generating the necessary forms directly from the system.