Complex contractual agreements with numerous suppliers represent significant financial value to an organization, and the quality of contract language can impact exposure to risk. Our in-depth contract risk audits identify commercial risk levels while offering recommendations for improved language. By implementing industry-leading language and terms, the full intent of contracts will be realized – resulting in improved financial results as well as reduced risk.
Diligent Contract Administration of our clients’ contracts – from inception to closeout – allows us to align all stakeholders to contract details as we deliver ongoing, real-time verification of compliance with all terms and conditions. When errors are found, we identify root causes to ensure future compliance as well.
Our Contract Scorecards regularly monitor and communicate key supplier performance, while our Management Action Plans help to ensure that corrective action is being taken. Revenew’s contract compliance specialists interact with client and supplier stakeholders on-site, where recovery opportunities and corrective actions are identified in real time.
We enable our clients to achieve significant cost recovery and containment results – quickly and at a significant return on invested costs – with no impact on project schedules. Our engagement is low risk, improving supplier relationships while simultaneously recovering and containing costs.
Revenew’s review process often reveals opportunities for contract language risk management improvements. Frequently-used contract templates can be revised or expanded to provide more detail in the commercial terms, and greater transparency in contractual relationships. Our team works closely with clients to develop and implement stronger contract templates, which in turn deliver improved work processes and results.