A 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
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.