Business management is all about information management. Most good business managers can point to good information management as the secret of their success.
The people who really need us most don’t know we exist.
They don’t know we exist because the information isn’t reaching them. They are buried under an avalanche of information that they either don’t have the capability or time to process. The way to dig oneself out from under this avalanche is to turn that information into something more manageable … data.
Open Windows has created a suite of business management systems which are designed to make you more productive and efficient as a business manager by assimilating, storing, processing and reporting your information. They are browser-based, which means it’s like you have your own private internet focused on your business.
Contract Management … Project Management … Tenders Management … Fleet and Equipment Management … do any of these sound like your particular information avalanche?
With an Open Windows Business Management system handling your information, you will have more time and resources to focus on what is really important to you and your business. These systems fit to your distinctive needs, not the other way around. They learn the way you like to do business, or help you find a better way.
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The spending watchdog’s latest report, Commercial skills for complex government projects, said the public sector lacked commercial capability in areas including contract management, commissioning and risk management.
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This Report discusses the risk of supplier failure increasing because of the financial climate and the ongoing risks faced by buyers through not monitoring contractors and contractor risk pro-actively.
“The report recommended a number of measures to help government buyers improve contract management. These include stringent controls surrounding supplier behaviour, better risk management over the life of a contract rather than just at the start, and introducing systems that provide an early warning of suppliers who are struggling.”
We all tend to become better economic managers in the tough times out of necessity. The real challenge is maintaining this type of good governance over agreements and contractor relationships in the good times as well.
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In its most recent semiannual report to Congress covering October 2008 to March 2009, the National Archives and Records Administration’s Office of Inspector General (United States) listed Contract Management in what it considers the 10 most significant challenges that the agency faces.
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ARN has picked up the story on Open Windows’ recent win at RMIT.
The article has focused not only on RMIT and the Education sector but also the fact that the need for contract management systems is highlighted by falling revenues. We all must drive value in current agreements and expenditure to positively impact the bottom line. This should be the rule, rather than the exception. Organisations tend to get lazy when times are good.
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This is not new, but Gartner said today that firms ”focus too much on the operational level of outsourcing, and not enough on the strategic management of contracts.”
As I always say, “you can outsource the process but not the accountability!”
The article talks about aligning sourcing actions with business goals and the importance of the competencies of strategic sourcing. This is clear, you must focus on outcomes. You must get it right when you put the agreement in place or you will pay for it during delivery. It’s much more expensive to correct errors after you have let the contract.
Gartner research director Frank Ridder said “Many organisations struggle to develop an effective and efficient sourcing environment, which is necessary to achieve positive sourcing outcomes.” Effective contract lifecycle management systems like Open Windows Contracts pro-actively automate the sourcing process for organisations. They provide education on how the process should be performed, as well as accountability and auditability.
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Public companies considering not having a good system in place to manage contracts are facing a huge burden everytime they make an aquisition and add to the due diligence cost on both sides of a transaction.
One of the first questions asked in the process is, ‘what contracts do you have?’ Well, what contracts do you have and how quickly can you give me a summary into risks and exposure at a contract level?
Putting in place a contract lifecycle management system ensures operational contract management that simply rolls up into reporting.
Many companies I know embark on a massive data gathering expedition each and every time somebody asks a question.
Are you prepared for your next transaction?
No Comments | Tags: Contract Management, Contract Management Software, Contract Software, contract lifecycle management
Contract Management jobs are on the rise, particularly in IT contract management says AbsoluteIT Director Grant Burley in New Zealand, “There are more complex deliverables that are having to be met, and with a need for monitoring and clarity as to what is delivered, we’ve seen growth in these roles.”
This is the case across all areas of contracting, and as either the complexity of agreement being managed, or sheer number of agreements reaches a critical point, increased contract management effort including better systems and contract management software, is required.
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Although a full shift to the cloud a decade away, interesting article on cloud services, the shift away from hands on technical IT. Garner says “within enterprise IT, there will a growing job emphasis on managing contracts with the service providers. ‘You’ll see more positions in supplier relationship management and coordination,’ says Gartner’s McDonald.”
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So what’s the best way to negotiate?
Face to face of course. I’ve seen too many people trade comments for comments over weeks and weeks, and getting nowhere fast. The key is to first go through the agreement and note any comments or issues in a clear and systematic table format. Then organise a time when you can go through the list and discuss each point prior to sending the list through, even send it through so that both parties have it in front of them for reference.
Purely sending a list of issues through to the other party without discussion is open to interpretation by the other party, and it’s difficult to convey the reasons why an issue exists, and what your preferred outcome might be. Plus the negotiation of a single clause may involve three or four passes prior to being agreed. On the phone or face to face you can do this very quickly, whereas in writing it can literally take weeks going back and forth.
I know it is really very tempting to just get the issues down and be done with it, but it’s really the coward’s way out. In the interest of getting a better mutually beneficial result, and faster, talk it through.
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