Contract Management Services

Streamline, Simplify, Succeed: Contract Management Made Effortless!

TEAM Solutions Group’s Contract Management Services (CMS) is part of their overall Technology Asset Management (TAM) capabilities and involves the process of creating, executing, and overseeing contracts between parties, as well as ensuring compliance with the terms and conditions outlined in the contract.

TEAM’s contract management involves various activities such as drafting contracts, negotiating terms, monitoring performance, tracking key dates and milestones, and resolving any disputes that may arise out of reducing, documenting, and controlling total IT costs.

Here are some key activities and benefits of our contract management program:

1.    Contract Creation: This stage involves drafting the contract, defining the terms and conditions, and ensuring legal validity. It may include collaboration between legal teams, business stakeholders, and other relevant parties.

2.    Negotiation: Once the initial contract is drafted, the parties involved negotiate the terms to reach a mutually agreeable agreement. This stage may involve multiple rounds of negotiations, revisions, and discussions to address concerns and finalize the contract.

3.    Execution: Once the contract is agreed upon, it needs to be signed and executed by all parties involved. Execution can be in the form of physical signatures, electronic signatures, or other legally recognized methods.

4.    Storage and Organization: Contracts should be securely stored and organized in a centralized repository or contract management system. This allows for easy retrieval, access, and tracking of contract documents.

5.    Performance Monitoring: Contract management involves tracking and monitoring the performance of the parties involved to ensure compliance with the agreed-upon terms and conditions. This may involve regular audits, performance reviews, and reporting.

6.    Renewal and Amendments: Contracts often have expiration dates or may require periodic review and renewal. Contract management includes keeping track of important dates and proactively initiating renewal or amendment discussions when necessary.

7.    Risk Management: Contract management aims to identify and mitigate potential risks associated with contractual agreements. This may involve identifying contract-related risks, implementing risk mitigation strategies, and maintaining appropriate insurance coverage.

8.    Dispute Resolution: In the event of a dispute or disagreement, contract management may involve initiating dispute resolution processes, such as negotiation, mediation, or arbitration, as outlined in the contract.Hardware Acquisition: Selecting the right equipment for the company's operations based on factors like purpose, capacity, efficiency, and cost.

Our Contract Management program mitigate risks, maintain legal compliance, and maximize the value derived from contractual agreements.