Inprova
Unlock more value from your contracts
Download your free guide!
Poor contract management erodes value, increases risk and damages supplier relationships. This free guide shows you how to avoid those pitfalls and turn contract management into a driver of savings, compliance and performance.
Half of all third party spend is governed by contracts, yet many organisations manage them in an ad hoc way which loses opportunities for savings and increases exposure to risk. Research shows up to 75% of sourcing savings can vanish within 18 months without effective contract management. This guide explains how to structure, implement and maintain strong contract management practices that protect value, strengthen supplier relationships and ensure compliance.
What’s inside the guide?
Whether you’re new to contract management or want to sharpen your approach, this guide includes:
You’ll walk away with a practical toolkit, not just theory, that helps you manage contracts more effectively.
Why is contract management important in procurement?
Contracts govern at least half of all third party expenditure in most organisations. Without a structured approach, savings are quickly eroded by inefficiency, scope creep or poor compliance. Best in class contract management ensures value is protected and enhanced through
Better supplier collaboration and stronger long term partnerships
Early identification and prevention of risks
Consistent compliance with legal and regulatory requirements
Improved financial performance and cost savings
Regular monitoring and continuous improvement of service delivery
That’s exactly what this guide is built to help you do.
Who is this for?
This guide is designed for:
Procurement leaders seeking to deliver greater value from contracts
Contract managers responsible for supplier relationships and performance
Finance professionals looking to safeguard savings and reduce costs
Operational teams involved in managing service delivery under contract
Download your free guide today and start building a smarter approach to contract management.
Written by procurement experts
Packed with clear frameworks, best practice insights and practical tools, the guide will help you strengthen supplier relationships, reduce risk exposure and improve financial performance.
Contract management is the process of creating, implementing and monitoring contracts between an organisation and its suppliers or partners. It ensures that obligations are met, risks are controlled and the contract delivers the intended value.
At least half of all third party spend in most organisations is governed by contracts. Without proper management, savings and efficiencies are quickly lost. Effective contract management reduces risks, strengthens supplier relationships, improves compliance and protects financial performance.
The contract management lifecycle includes six key stages. These are contract creation, negotiation and collaboration, review and approval, administration and execution, ongoing management and renewal, and reporting and tracking. Following these stages helps organisations maintain value and reduce risk.
Well managed contracts protect the savings identified at the award stage and prevent cost increases from inefficiency or non-compliance. By consolidating supplier performance, monitoring delivery and avoiding disputes, organisations can achieve measurable long term cost savings.
Poor contract management can lead to value erosion, service failures, compliance breaches and damaged supplier relationships. Research shows that up to 75% of sourcing savings can be lost within 18 months if contracts are not managed effectively.
Contract administration focuses on the day to day operational tasks of running a contract, such as record keeping and payments. Contract management is broader and more strategic, covering supplier performance, risk management, compliance and long term value creation.
Responsibility often sits with procurement teams, contract managers or operational leads. Best practice is to have a dedicated contract manager accountable for maximising value and ensuring compliance, supported by delivery teams and legal expertise where needed.
Technology helps organisations centralise contracts, track performance data and automate reporting. Digital tools make it easier to monitor compliance, analyse spend, identify risks and ensure all contracts are accessible and visible across the organisation. At Inprova, we have developed Quantum, our free to use tool for all public sector organisations using our frameworks, to help improve and streamline contract management.
The success of contract management can be measured through cost savings, compliance rates, supplier performance, risk reduction and alignment with organisational goals.
Supplier relationship management supports contract management by fostering collaboration, reducing risks and driving innovation, which increases value beyond the initial contract terms.
Contracts should be monitored throughout their full lifecycle, from signing until renewal or termination, with regular performance reviews to ensure value is maintained.
