The Challenge:

Most companies find it extremely challenging to manage contracts globally across multiple vendors, tracking contract terms, expiration dates, and performance of the vendors related to those contracts. Not knowing when contracts expire typically causes the client to lose their leverage in the buying process. Loss of leverage for a business always leads to higher costs and unneeded services because often times contracts will automatically renew or monthly rates will significantly increase when a contract expires.

The Solution:

ICOMM’s Contract Module includes a complete inventory of assets and a contract module for tracking contracts. A central repository housing all details linked to service types and vendors. Custom alerts can be set by contract or service type for contract expiration notification. TMA can report on this based upon service type (12-month notification for a WAN service, 90 days for a POTS line, etc.). Once these timeframes are established, they are easily identified in the Contract Module view via color coding (black for active, green for approaching expiration, red for expiration but not inactive, etc.).

Reporting on this is part of the recurring weekly/monthly client review. These reviews include market rate benchmarking, technology assessment, and other optimization opportunities.

The Contracts Module allows for the direct attachment of each MSA, and all subordinate documents referenced. These link to every in-scope account, and to every in-scope service. This allows for easy rate validation, easy addendum updating, and centralized tracking for each contract document for compliance and audits.

How it Works:

This is a 3-Part Process:

1. We identify all contract rates for active / in use services, and then benchmark those rates against the current market. We leverage current contract status and terms to drive optimization and cost savings.
2. We explore vendor consolidation opportunities across all in-scope services, comparing a client’s size and current vendors to their services. Our deep understanding and relationships in the Technology Vendor Ecosystem creates tremendous buying power and economies of scale for our clients.
3. We develop a and service optimization plan with recommendations; this would include the standard voice-and data-plan optimizations in the wireless world, but also VoIP sizing, data circuit sizing, circuit quantities to employee populations and more.