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
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.