Do you have all your current contracts in order? Do you know exactly when which contract expires? Or do you sometimes miss an important term and spend a lot of time looking up a document? Not having contract management in order costs your company extra time and money, while it can potentially yield a lot. The Contract Lifecycle from IDC Metri provides insight into the life cycle of IT contracts.
Many organizations have insufficient insight into the current contracts. This is partly due to the limited management of contracts and the phase in which these contracts are after the contracting. This increases the risk of extra costs, services that no longer meet the need, the quality that is not in accordance with the agreed agreement or services that are unnecessarily continued.
By setting up the Contract Lifecycle within your organization, IT expenditures and associated services remain optimally aligned with current needs. IDC Metri has an approach that makes it clear which actions need to be taken to continuously align the contracts with current needs. From strategy, selection and contracting to exploitation and extension/termination.
The Contract Lifecycle consists of two components.
Contract Lifecycle Management (CLM)
CLM supports organizations in the daily management of its IT contracts during the life of the contract. CLM takes into account all life phases of a contract.
Contract Management Design
The Contract Management Organization takes care of the organization of the required CLM elements, such as roles and descriptions, process, tooling and contract and consultation structures. Based on that, the policy and positioning of CLM will be drawn up.
The results of the Contract Lifecycle support organizations in managing their contracts throughout their entire life cycle. As a result, organizations are always provided with the information they need to take the right action on time so that IT services continue to meet business needs and market developments.