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Concentrix
2019-04-21 15:57:41
Whats the best way to ensure all Contract Terms are being complied with ?
We are an IT service provider.I am researching on best way to provide reasonable assurance top management on Compliance status against Contract terms.
This requires us to check if all Obligations,Milestones,Commitments etc are being met both at our end and any commitments from customer as promised in contract. Idea is to identify and fix deviations from contract terms , Reduce revenue leakage or Cost/Scope creeps. My strategy is (a) Review contracts before signing and call out Important terms to stakeholders (b) Assist proper handover of contract from Sales to Operations teams identify Owners to terms (c)Conduct Compliance Audits on Key accounts to assess compliance (d) Share lessons learnt back to Sales/Operations etc. (e) Use Self assessments by Operations where we can't reach them due to bandwidth issues
Any Suggestions on how this can be made better ?
This requires us to check if all Obligations,Milestones,Commitments etc are being met both at our end and any commitments from customer as promised in contract. Idea is to identify and fix deviations from contract terms , Reduce revenue leakage or Cost/Scope creeps. My strategy is (a) Review contracts before signing and call out Important terms to stakeholders (b) Assist proper handover of contract from Sales to Operations teams identify Owners to terms (c)Conduct Compliance Audits on Key accounts to assess compliance (d) Share lessons learnt back to Sales/Operations etc. (e) Use Self assessments by Operations where we can't reach them due to bandwidth issues
Any Suggestions on how this can be made better ?
