Contract Toolkit

In our experience, money is lost post-signature due to a failure to monitor the Contract. We can provide tools that will eliminate such issues, help you increase profits, and enhance governance with minimal administrative overhead. For example:

• We start by focusing on what the board wants to know. Answer: nothing, unless it’s going wrong, then everything goes wrong. We provide a dashboard that shows reality in real-time, with the ability to click through to an item if it turns “red,” for example, and view all information related to that escalation.
• We are agnostic about systems; we will review your software stack and suggest how you can achieve the visibility you need with what you already have.
• We aim to make the working relationship of a large, complex contract more effective by having the parties share a single, accurate version of the truth.
• We are prepared to base some of our payment on the results; that is how confident we are in our approach.

What Does the Toolkit Consist of?

• In the obligation register, we break down the Contract into metadata. We then crowdsource the obligation checking, so the most appropriate person checks the clause, irrespective of which organisation employs them. One version of the truth in real time for you, your supplier, or customer
• The change control register is a simple log that enables the board to see where they are with Change controls.
• It comes into its own, for example, at the end of the year when they can see how many proposals are out for approval and which ones could be delivered before the year-end. They could decide to offer 5% discounts to get those over the line and into this year’s numbers, for example. When viewed across the organisation, questions arise, such as, “Why is X client rejecting so many change controls?” Should they raise the issue at their next executive meeting?
• In the Claims and Disputes Register, we record and monitor all disputes and claims, as well as their progress toward resolution. Enabling management to make strategic decisions, particularly when seeking to maintain good relations, is crucial as a new major bid approaches. This ensures there are no surprises and nothing is overlooked.
• The “goodwill” register is beneficial for recording those little extras one does for each other in a relationship. We have seen examples where 30% of the contract value was given away as goodwill to a client. One client received £28 million of goodwill in a year.
• When you sign a contract, there are often questions over the interpretation of a clause or task. A decision is made, and people proceed accordingly. Something happens, and the analysis changes. This log aims to capture these points, agree on their meaning with the parties, and document them. Thus, subsequently, in any future confirmed copies of the Contract, the interpretation can be included.
• A Calendar of Events to ensure nothing is missed, for example, a rate increase. We have seen examples of the team not being aware that a rate increase was permitted under the Contract because it was specified in the terms and conditions (T&Cs), and they only read the schedules. That cost the client £1 million because the customer would allow them to claim it going forward, but not in retrospect. Where calendars are aggregated, it helps plan work more effectively.
• Issues Log: You had a negotiation plan, and you got most of what you wanted, but not x, y, and z. Quite often, people forget such items; we don’t; we put them on the issue log and, in future negotiations, seek to include them.
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