Contract Sentinel is a groundbreaking new cloud-based contract management platform that enables total monitoring of service agreement performance and cost, and presents all the information in an easy-to-use, single-view dashboard.
This unique automated system is a game changer because, unlike most contract management systems which are merely repositories for information, Contract Sentinel is dynamic, intuitive, intelligent and able to continuously capture and analyse performance and cost, show how multiple contracts are linked, and provide real-time data throughout the entire contract lifecycle. Contract Sentinel chief technology officer, Richard Savage, says: “Contract Sentinel is the missing piece of the jigsaw, and we believe it’s the future of contract lifecycle management.
“Delivery of multiple service contracts is becoming more and more scrutinised and complex in terms of cost, performance, security and compliance, so our aim was to create a system that could help both clients and suppliers to meet these ever-increasing demands.
“Many companies running service contracts struggle to deliver effectively because of the sheer quantity of elements they need to manage. Their paper contracts are filed away, data is kept on spreadsheets and isn’t up to date, and there is no simple way of reviewing contract status or renewal dates, which can be very costly if they roll over without review. Nothing links up, nothing is secure and key aspects are easily overlooked. There is a real pain factor with this scenario that many companies will relate to.
“Contract Sentinel is the solution to this problem because it delivers total tracking – linking and managing every aspect of a contract so you can see the bigger picture in terms of compliance, cost and performance, for its whole lifecycle. Hard data is presented in real time, in a one-view format on a computer screen, laptop or smart phone, so all stakeholders, suppliers and clients can see one single version of the truth. It’s totally secure too, which is a vital factor for many businesses. “The overall benefit of Contract Sentinel is a massive ROI. If you assume your contracts are managing 85% compliance against SLA today, Contract Sentinel can improve this to 99%, which is worth £1.4m for a £10m contract business.
“The system is cloud based, so there are minimal set up and maintenance costs, and it’s a simple, affordable plug-in solution which can be tailored to specific users.”