Contract management is one of the most important aspects of procurement, yet it is one that is often overlooked.
On many occasions, organizations invest a lot of time and money into running their tendering process, but then lack the resources to follow up post-award and ensure the supplier delivers on its promises.
Completing a tender is just the first stage when it comes to getting best value for money out of your contract. The next step is to manage your chosen suppliers for the duration of the agreement, to drive quality and performance, and to make sure you are getting the service that you paid for!
Why choose Wiz Tech for Contract Management Services?
Contract governance and process standardization
We can help you create an overall contract governance framework in your organization. This involves: Defining governance, including delegation of authority, policies and procedures around contract management. Standardizing contract templates/ service levels applicable for your organization, after benchmarking with global standards.
Contract Life Cycle Management and Administration
We can support you in the entire contract management process which includes: Pre-contract services like contract review, template review and update, negotiation and approval services, and Post contract services like management of various contractual obligations (tracking of SLAs, commercial terms, expiries, addendums etc.).
Contract Analytics
We leverage our analytics and technology lab to offer you contract analytics and data review services. Identification and extraction of key contract information from contracts present in different formats and stored at different locations for reporting and analytics. Evaluation of contracts of a target Company to identify inherent risks in clauses during any specific risk based on management’s request.
Technology enablement and automation
Our contract automation practice can help you automate your end to end contract management process (including contract compliance management). Our in-depth knowledge of sector, complexities, challenges and leading practices provides us the unique ability to service complex contract lifecycle management tool implementations and migration of legacy data.
Helping You Manage your end to end contract lifecycle and compliance risks
Wiz Tech’s smart contract management solution combines contract management expertise, multi-lingual, and AI/ML (artificial intelligence/machine learning) capabilities to deliver best-in-class services. We help organizations digitize, automate, and transform various aspects of Contract Lifecycle Management (CLM), utilizing optimum AI/ML solutions to achieve operational as well as financial efficiencies. Our team of contracting experts and consultants, certified in CLM implementation, help bridge the gap between technology teams and the legal function.
