it's all about relationships
You're up and running, growing by the day and life is good. Except for all those contracts with your clients and suppliers that you have to negotiate and manage which is taking up so much time and effort and you don't even know if you're doing it right.
Effective contract negotiation and management will not only save you time and money, it will also create the right behaviours between parties, increase the chances of project success and help to deliver a project on time and within budget. Most importantly, it will create strong foundations for your relationships, create clarity so you all know where you stand and protect you if they ever go bad.
The importance of a contract
You find a supplier that you like and want them to deliver your software development project, product design or strategy approach. To ensure the success of your project, it is imperative that you have the right contract in place.
Contrary to what many people think, contracts are not a just a mild annoyance that everyone needs to go through before they can start working. Contracts are the backbone of any commercial relationship. They create clarity and certainty, motivate the parties to behave in specific ways and provide a safety net for when things go wrong.
Different types of contracts
Contracts are not a 'one size fits all'. There are several types of contracts and each project will need an appropriate contract structure to maximise its chances of success. For example, if you're employing an 'Agile' methodology, your contract will be quite different compared to if you had a 'waterfall' methodology. Are you ensuring appropriate levels of risk so both parties have enough 'skin in the game'? Are payments structured against specific deliverables or milestones so that the supplier is motivated to deliver and the client is incentivised to pay on time? Agreeing on a day rate might sound sensible, but is it suitable for the nature of the project and what happens if the supplier exceeds the original cost estimate?
With years of experience managing multi-million pound contracts, we can help negotiate, create the processes and manage your contracts and delivery so you can concentrate on what you do best.
Negotiating an agreement can be tricky. Lack of experience or emotional involvement can hinder the best outcome. What's even worse, is going into a negotiation unprepared and unsure of what results we want to achieve.
We can help every step of the way. From breaking down a proposal to see where efficiencies can be gained, to creating a negotiation strategy, explaining different commercial models and coming up with an approach before the negotiation even begins.
During the negotiation, we can either lead or support to make sure matters are kept on track and that both parties conclude the negotiation feeling like winners.
Effective contract management
After a negotiation is concluded an the contract is signed, we can help put the right processes in place to ensure that SLAs and KPIs are adhered to, any changes are submitted in line with the contract and that you have an appropriate governance structure in place to ensure that you can meet your obligations and successfully manage those of the other party.
If you're carrying out on-site projects, then we can help you manage not only your contracts, but more importantly, your relationships.
Unfortunately, disputes are natural in any project life-cycle and when you go through one, it can be stressful, emotionally draining, expensive and time consuming.
We can help whether you're the client or the supplier and have extensive experience with helping resolve disputes within a range of industries, including the aerospace sector, software development and implementation, media and design and FMCG.