Contract Management

ContractsA much overlooked aspect of Compliance Management is the area of Business Agreements. Requiring inputs from multiple departments and affecting others such as finance, legal, marketing, and operations, even a minor mistiming can prove an expensive oversight. FastTrack.net handles all aspects of Business Agreements including: Panel Agreements Joint Venture Supplier Agreements Banking & Securities Confidentiality Agreements Licences Service Level Contracts Contract deliverables or obligations can be recorded against a contract and allocated to key personnel. Automatic reminder emails are scheduled for these deliverables, and key personnel are notified when due. You will obtain a full report of all the obligations due for each contract and establish which deliverables are still outstanding.

When managing multi-million dollar contracts, administration delays and oversight breaches can cost organisation big dollars. Also saving Legal and senior Finance staff’s time allows for greater focus on better contractual outcomes.

  • Tenders and Quotes
  • Contract Milestones, Review & Expiries
  • Insurance & Certification Tracking
  • Obligations and Legal Requirements Register
  • Workflows for Approval & Variations
  • Interfaced to Risk for prioritising Contracts & Tenders

Contracts Business Agreements

The Business Agreements function monitors all contractual commitments that result from legal documents. Document Control and Approval Workflows cover the initial probity issues while Diary Tracking and Contract Variation processes monitor ongoing contractual commitments.

When managing multi-million dollar contracts, administration delays and oversight breaches can cost organisation big dollars. Also saving Legal and senior Finance staff’s time allows for greater focus on better contractual outcomes.

Contracts.BusinessAgreements

Features:

  • Agreements, Contracts, Licences, Guarantees
  • Contract Milestones, Review & Expiries
  • Obligations and Legal Requirements Register
  • Contract Documentation
  • Workflows for Approval & Variations
  • Interfaced to Risk for prioritising Contracts & Tenders

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Contracts Requirements

Contractual Requirements tracks individual commitments embodied in contracts entered into. Periodic and one-off commitments are scheduled, diarised, reminders sent and escalations raised on overdue commitments.

Two way linking provides lists of contracts per commitment as well as commitments per contract. This provides information for consolidation of resources and negotiation collateral for product and professional insurance cover.

Features:

  • Email Reminders and escalation on overdue commitments
  • Commitments Matrix
  • Schedules of Clause Requirements by date
  • History of commitments and actions
Contracts.Requirements

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Contracts Templates

Contracts Templates is a Document Control function for contract schedules and correspondence. It carries out change management through automated workflows, version tracking, publishing, distribution and disposal of internally developed Quality and Technical documents, all within a comprehensive security model to ensure integrity and published information.

Generating Contractual Documentation from formal version controlled templates not only save time in preparing contracts but can prevent expensive mistakes from the inadvertent use of out of date documentations.

Contracts.Templates

Features:

  • Version control & change history
  • Workflow of revisions, review & approvals
  • Email referral with diary reminders
  • Revisions marking and comments
  • Multiple editors and reviewer

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Contracts Tenders

This function tracks the preparation, holding, and recommendations of Tenders & Quotes. It takes inputs from Submissions and outputs contract negotiations for monitoring. Using Risk Assessment processes for rating responses and maintaining a database of Tenders provides a future purchasing intelligence.

By formally managing the whole Tender process, due diligence, probity and transparency of each Tender can be assured.

Features:

  • Electronic Tender Approval Workflows
  • Assessment Criteria, Guidelines & Questions
  • Assessment Review Scheduling
  • Online & Offline Assessment Submissions
  • Response Evaluation, review & rating
  • Risk Assessment & Rating
  • Summary Reporting
Contracts.Tenders

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Contracts Workflows

Contract Workflows is a Task Management function utilising electronic workflows to manage and coordinate responsibilities. Allows for attaching supporting documents and sending reminders for outstanding actions.

The automatic workflow notification, reminders, and escalations ensure contracts and related tasks are completed in a timely manner. With the Workflow including reassessment of the Risk, Fast Track creates an environment for Continuous Improvement and Mitigation.

Contracts.Workflows

Features:

  • Workflow with email reminders & escalation
  • History of activity, correspondence, workflow
  • Attachment of case notes, & related files
  • Scheduled review
  • Comprehensive security module for access

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