Contracts Database and Repository

A frequent finding of internal and external audit groups is the lack of signed contracts, or worse still not being able to locate a contract at all.  

The contract reflects the commercial and legal terms agreed between the parties – the lack of a contract could therefore lead to a number of problems from an inability to validate invoices through to poor cost management.  

We use the spend analytics capability to work back through the organisation and assess what type of commitment has been made against each spend line. We notify you of spend lines not covered by a contract and if required, we can work with you to put contracts in place.  

We then take all contracts and upload them into our contracts database and this allows us to track expiry dates and give you timely notification of when a contract is about to expire. Change notices are filed with us allowing us to monitor that the relevant documentation is signed off – we then file the physical hard copy and electronic version with the contract to which it relates. Contracts and change notices can be drawn down by your organisation, at any time, via the internet.