Moving from an agreement on project terms with a contractor to a signed contract requires special skill. If not managed effectively, the process can drag on for months. And the longer it takes to finalize the contract, the longer it will take the project sponsor to realize the contract’s value and benefits.MEC help compress the time from an agreement in principle to a signed contract, reduce contract risk and ensure you get the best possible terms.
MEC supports the seamless execution of supply agreements, master agreements, statements of work and NDAs by working directly with the procurement and legal teams, freeing up category managers to address more spend, and driving deeper savings in the process. MEC Contract management solution provides the following benefits:
- Saves time
- Eliminate costly errors
- Enhance bargaining position
- Help make better management decisions
- Respond to contract issues faster and with less expense
- Improving contract compliance and avoid unnecessary litigation
- Create line-of-sight throughout the entire contract management cycle.
- Reduce costs and achieve compliance in all contract-related activities
- Turns complex contract management challenges into an efficient and structured process