Encourage Informed Contract Renewal Decisions
Renewal Management
By providing quick and easy access to current and historical information, framework helps Procurement Departments to cut contract negotiation cycles in half, reduce contract administration costs and prevent contracts renewing automatically.
Each contract within framework has a start and end date, to signify the period for which the contract is currently agreed. In addition to these two dates, it is possible to specify a cancellation date and a review date.
Our contract management software uses these dates to generate automatic email notifications to relevant personnel. These notifications encourage the review, allowing the cancellation of contracts where appropriate:
Improve Supplier and Contract Negotiations
Using an automated contract management application helps user's to cut contract negotiation cycles in half by providing quick and easy access to information such as quotations, tenders and proposals.
framework provides the information necessary to negotiate beneficial contract terms, ensuring that if one part of the organisation negotiates a good rate with a supplier, all groups within the organisation can take advantage of these special rates.
When an organisation has multiple locations, sharing information for a tender can significantly reduce the costs when comparing this to starting and an important tendering process from scratch.
framework can also store contract and supplier performance information, so user's can quickly see if there is a need to renegotiate costs based on the contracts performance or service delivery.
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Identify Under-Utilised Assets
Many assets or services do not provide a sufficient return on investment – either because they were never fully implemented or because business conditions have changed and the asset is no longer needed.
framework enables the proactive identification of these assets and their associated costs, so that organisations can retire, redeploy or renegotiate as appropriate.
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Manage Contract Milestones
This automated solution will put Contract managers in control of contract renewals, sending email notifications of cancellation deadlines.
In addition to contract renewal deadlines, organisations practicing proactive contract management processes will usually conduct contract reviews during the contracted period to assess various factors including service delivery, risks and performance.
framework will send an email to the designated person(s) when the contract is due for review. Having received the notification, the system will automatically direct users to the relevant contract, associated reports, notes or documents, when they next login. This significantly reduces the time taken to perform contract reviews and increases procurement leverage.
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Monitor Savings
Rationalising suppliers and renegotiating contracts can yield significant savings and reduce year on year costs.
framework logs the savings you have made from renegotiations. Reviewing these logged savings can help to justify future spend.
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Renewal Management 
