Contract Lifecycle Management
Modern contract management is based on life cycle thinking and continuous improvement, to what we refer to as contract life cycle management.
It is a proactive and method-based contract management.
It monitors the fulfillment of the objectives and obligations of the agreement throughout the term of the agreement, from the first discussions to the conclusion of the agreement.
Modern organizations and businesses do not operate in a vacuum. They are connected to many others and create added value for their customers. Each of these links has a set of agreements and expectations that are important to both parties. In support of this, an agreement is usually drawn up and signed by both parties.
Maintaining the relationship between supply and demand requires attention at strategic, tactical as well as operational levels. Because this relationship revolves around business results defined in contracts, contracts must be managed. This is far too important to leave to the Procurement and Legal departments.
Professional contract management helps you get the most out of your contracts. Inefficiency reduces supplier margin and subscriber utilization.
Lifecycle management of contracts is increasingly required by the customer or authority. The responsibilities are not limited to our own operations but extend to our own service providers.
The responsibilities associated with the service or product to be delivered are not limited to our own operations, but the responsibility must be taken from the entire ecosystem.
The lack of lifecycle management leads to the erosion of contracts, which do not yield the benefits originally agreed over time.
Contract erosion refers to the phenomenon in which existing contracts are not fully utilized. Not all contracted services will be delivered or purchased.
According to research, life cycle management has a potential for additional returns of 9.2%.
Although it is a management model, there are returns to be achieved through lifecycle management.
CATS CM® is a Dutch methodology developed for contract lifecycle management. CATS CM® strives to meet the most typical lifecycle management challenges and is software-independent as a method. The ins and outs of the methodology can be found at www.cats-cm.com
The methodology is a scalable, flexible, business-driven approach to contract management and is suitable for both subscriber and supplier organizations and can be used in both public and private sector organizations.
Its goal is to facilitate the adoption of contract lifecycle management policies and expertise in the organization, enabling the proactive management and execution of contracts, while focusing on the diversity of contract objectives and the need for change. In addition to the methodology description, CATS CM® provides tools for contract management practices and processes.
A large number of organizations have chosen CATS CM® as the standard for their contract management processes; in Europe, the methodology is widely used in the energy, logistics, ICT, construction and financial industries.
The introduction of management models requires
We have a wealth of experience supporting our customers on the path to change. Next to the development of management models, the lifecycle management of contracts is one of our key areas of expertise. We provide consulting, coaching and training in all of the above areas of change management.
Feel free to contact us to discuss how we can help.
Contract management with CATS CM® version 4: From working on contracts to contracts that work (Best Practice).
The book describes the key principles and best practices of the CATS CM® methodology.
The book is available in the Amazon bookstore or directly from our own stock – we provide fast delivery in Finland and quantity discount!
CATS CM® Core is an online course in the CATS CM® methodology. Completion of the course takes 8 to 12 hours. Together with the book, this e-learning provides you with all the information and background needed, to understand the core of the methodology CATS CM®, enabling you to bring your learnings further, take an exam and become a certified contract manager.
Access is available at the CATS CM Academy or through us. When there are multiple professionals from your organization to enroll, contact us for the multiple access special offer.
Rsult offers a few packaged solutions such as:
Ask more about the above and other learner services provided by Rsult.
CATS CM® Foundation training is a two-day classroom training in the CATS CM method.
After the training CATS CM® Foundation, you will receive a certificate of attendance and you have the opportunity to become a certified professional by taking the exam.
In the spring of 2022, Foundation trainings in Finland will be conducted in company-specific implementations and in English. Ask for more details about the implementations.
CATS CM® Practitioner is a three-day classroom training in the CATS CM® methodology, where your knowledge obtained through the CATS CM® Foundation will be put in practice, your own practice.
CATS CM® Practitioner includes an evaluation of your own contracts as part of the training.
In the spring of 2022, Practitioner training in Finland will be conducted in company-specific implementations and in English. Ask for more details about the implementations.