What do you do if your Vendor Relations team is struggling to manage contracts with clients?

Some ideas as below 1.Begin by identifying the specific challenges or issues your team is facing. Such as understanding contract terms, ineffective communication with clients, lack of proper documentation, or difficulty in resolving disputes. 2.Ensure that your team has the necessary resources, tools, and support to effectively manage contracts. This includes access to legal expertise when needed, guidance on handling complex negotiations or disputes. 3. Encourage feedback from your clients regarding their experiences with contract management processes. Use this feedback to make continuous improvements and address any recurring issues.

The gaps need to be identified accurately prior to implementkng solutions. The pro lem is likely to yield multiple gaps such as - legal verbiage -contract periodic review process -Customer communication The approach would have a short term and long term solution. In the short term we take immediate corrections in the process to make it effective. The long term solutions will involve implementation of new tech platforms or reconfiguration etc.

Si mi equipo de trabajo está teniendo dificultades para gestionar contratos con los clientes, primero sería útil identificar las áreas específicas que están causando problemas. Luego, podrían implementarse medidas como la capacitación adicional, mejorar sus técnicas comunicación asertiva, la simplificación de ciertos procesos que no permitan tener mayor efectividad en las diligencias, el uso de herramientas de gestión de ciertos contratos o la asignación de roles claros dentro del equipo. La comunicación abierta y un equipo colaborativo pueden ser clave para encontrar soluciones efectivas en menor tiempo.

Make sure all the key stakeholders involved in the contract management have been carefully identified and well recorded in your CRM. Then ensure the needed relationship is established and maintained between your organisation and these key stakeholders

Establish Clear Roles and Responsibilities: Define roles within the team and clarify responsibilities related to contract management. Assign specific tasks and duties to team members based on their strengths and expertise. Foster a culture of accountability and teamwork to ensure smooth collaboration.

It is very important for team members to know their roles and responsibilities. A clearly stated role and responsibility will give the team direction on how to deal with issues.

Try to have win win approach and long term association. Transparent and effective communication shall improve relationship and trust on the business.

Communicate Effectively with Your Clients: Maintain open and transparent communication channels with clients. Regularly update clients on the status of contracts and address any concerns or queries promptly. Foster strong relationships built on trust and mutual understanding.

Communication is the most important tool that establishes the fundamental approach towards contract management. 1. Vendors are partners and allies who can make or break a project . It is therefore important to accord that respect during communication 2. Being firm and transparent and not Changing your stand will demonstrate a strong will to drive progress. 3. Assertive communication helps in understanding mutual benefits in achieving successful contractual milestones so that there is no tolerance for lapse. This tone and approach will be respected

Modern communication channels suggested here (email, phone, video calls) are often not as performing as a real "face to face" communication that leaves more space for small talks and body language interpretation. Prefer face to face team to team communications, especially for conflictual situation solving, and make sure team roles are assigned to lead discussions, take notes, and build up a post meeting action list with responsibles & deadlines in the MoM. (Minutes of Meeting)

A contract that is well balanced is a contract that has a better chance to last and therefore produce recurrent and sustainable value generation.