Contract Management
All business is based on contracts. Up to 80% of business transactions are governed by contracts or agreements. They provide vital details about how a company interacts with its partners, suppliers, customers and employees. Contracts grow as business grows. It becomes a challenge for a company to manage and track them.
If all of the in-house legal department's time is spent reviewing contracts, they will never have time to perform crucial operational or strategic responsibilities. Contract management services will help your teams because repetitive administrative tasks can consume up to 30% of their time.
When contracts are not monitored and managed over the course of their useful life, there is a high probability that money will be lost, costs will increase, deadlines for legal and regulatory compliance and other obligations will be missed; there will be more potential for litigation, etc.
- An increase in contract revenues of 1% to 2%.
- Reduction of incorrect payments by 75-90%.
- Renewal revenues increased by 30%.
- 70% reduction in legal fees.
- A 90-100% ban on automatically renewing contracts.
- A 90-100% increase in compliance with law, regulations and policies
- 50% faster settlement discussions.
- Operating and processing costs are reduced by 10% to 30%.
- 10-20 % reduction of the main account or increase in productivity
- A 3-5% decrease in procurement costs can be achieved with integrated contract management capabilities.
The following contracts fall within a specialized area of expertise for Trevosma CAP, and we have developed a novel approach to support its ongoing commercial engagements.
- Sales division.
- Purchasing Department.
- Legal Division.
- Lease Agreements.
- Confidentiality agreements.
- Software license agreements.
- Service contracts.
- Acquisitions and mergers.
- Master service agreement.
- Master subscription platform agreement.
- License agreement.
- Master License Agreement and Software Support.
- Framework Agreement.
- Statement of work.
- Supplier agreements.
- Resale contracts.
- Working agreements.
