Contract lifecycle

Contract lifecycle management consulting

In our experience, effective contract lifecycle management is, first and foremost, about achieving ’good contracts’. But an organisation will only realise the potential in their contracts if they actively manage them.

Most organisations recognise they have difficulty achieving this objective, but very few understand why, to what extent and / or how to improve their approach to contract lifecycle management.

Our contract lifecycle management consulting solutions include:

Contract lifecycle management diagnostic

We help you identify how well you perform throughout the contract lifecycle (see diagram above), any gaps or areas for improvement, and how mature your contracting model is against organisations that achieve the objectives of good contracting.

We conduct a full diagnostic of your current practices and provide you with an improvement plan based on input from your people, including a set of recommendations which are both fit for your organisation and achievable. The improvement plan will detail the necessary steps to achieve good contracting practices at a place that is both realistic and justifiable.

State of Flux has developed a diagnostic tool which can be tailored to your organisation’s requirements.

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Contract lifecycle management improvement implementation

We facilitate and manage your implementation initiatives to help you achieve the objective of good contracts, from building and executing comprehensive implementation plans, to supporting the implementation of your own plans.
Either to improve the current approach or to create one from scratch, we help you build and implement a comprehensive contract lifecycle management programme. We use a flexible yet simple approach that involves a clear process supported by robust policies, up-skilling your people, and the effective deployment of tools and technology to enable the process.
Alternatively, we support improvement initiatives to specific stages or pillars of the contract lifecycle, addressing particular needs or gaps within your contract lifecycle management approach.

Our key areas of experience include:

  • Review and authoring of policies and procedures
  • Mapping, design and conceptualisation of contract lifecycle management processes
  • Definition of cross-functional roles and responsibilities
  • Review of individual job descriptions and competency framework
  • Delivery of training programmes
  • Data model design and system configuration
  • System selection and implementation

A robust change management initiative is developed in conjunction with implementation programmes to support internal buy in and increase compliance to the new approach. In our experience, successful improvement plans have been accompanied by a thorough stakeholder engagement and communication plan.

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Contracts data cleansing and loading

Even though most large organisations have heavily invested in a contract management system, many are unable to maintain a complete and accurate contract database or locate a large number of their supplier contracts. State of Flux has worked with FTSE 100 organisations to improve visibility of their contracts.

We help you locate contracts; extract meaningful and accurate metadata; and load them onto a centralised online system to provide visibility of all your contracts and easy access to contract information. We support all the necessary steps to ensure your system is accurate, complete and contains meaningful information – helping to achieve a return on the investment in your system.

Our approach to contract data cleansing and loading includes:

Our approach to contract data

Our people have the skills and expertise to provide you with data you can trust to be accurate and complete. The extraction process is completed by a team of paralegals to ensure high quality and accuracy levels, re-enforced by a thorough quality assurance process conducted by one of our experienced consultants.

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Contract lifecycle management ongoing support

Most organisations recognise the need for good and effective contract lifecycle management and have invested, in one form or another, in improvement initiatives. The challenge is to maintain the momentum and sustain acceptable levels of compliance in the long term to ensure return on investment. If you are not getting the return on your investment in systems, processes or other improvements, you risk losing all the benefits of good contracting, but also you may need to invest in the initial improvement exercise again.

We can provide you with an ongoing support service that helps you achieve return on investment, and realise sustainable and ongoing improvements in contract lifecycle management:

  • MI and reporting review and design (e.g. contract calendar and contract statistics)
  • Data quality and audits on the use of technology, including checks on the completeness and accuracy of your contract management system
  • Recurring mini diagnostics and audits, including reporting of non-compliant behaviours and recommendation of remedial actions
  • People performance, skills and capability assessments
  • Training, coaching and / or mentoring
  • Management of your contract management system, including system administration (in line with system administration rights), contract data loading and reporting

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