Solutions
for the Contract Administration Process
Contract Administration - business process
Management of all aspects of the contract life cycle
The Contract Administration process involves management of all aspects of contracts, spanning the entire life cycle from negotiation through final expiration. Effective administration of contracts can directly contribute to risk mitigation, identifying potential opportunities and ultimately increased profitability. Because contracts exist in every functional area of the company (operations, finance, marketing, HR, etc.), centralized administration offers the greatest efficiencies.
Contract Administration Processes and Systems
Processes and systems to efficiently manage contract administration are critical to success. Key elements include:
- Avoiding risk / penalties by managing key trigger events
- Identifying potential opportunities
- Adhering to corporate governance policies (SOX)
- More than simply document management (imaging)
- Providing a common platform to consolidate key contract terms identified in the contract documents
- Analyzing and understanding logical grouping of contracts
- Addressing unique requirements to specific industries, such as energy
- Facilitating deployment of standardized contract language as approved by legal department
Contract Administration Software Solutions
Quorum has experience in the Contract Administration process in design, implementation and support of configurable, sustainable, scalable information technology solutions to manage business activities efficiently and cost effectively. In addition to consulting services, we provide a full range of software solutions specific to the Contract Administration process, including:
Quorum Enterprise-wide Software Portfolio for Contract Administration process |
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| E&P | Midstream | Pipeline | LNG | LDC | Renewable Energy | Natural Resource | Energy Marketing | ||||||||||||||||
| Contract Admin | |||||||||||||||||||||||
| Reporting & Business Intelligence | Multi Dimensional Reporting & Business Intelligence (BI) Solution | ||||||||||||||||||||||

