Contracts are the foundation of business relationships and companies invest significant time and resources negotiating terms to align with corporate objectives. Verifying subsequent compliance with the terms agreed to by both parties is also important. Proactive, periodic audits of contractual relationships provide valuable insight and assurance while strengthening the relationship through increased transparency and accountability. This session will present a framework for implementing a successful contract compliance audit program and highlight the key financial and non-financial benefits achieved by performing periodic, in-depth reviews of your supplier relationships. Learn how to identify potential audit opportunities and risk assessment factors, acquire organizational alignment and support from key stakeholders and leverage audit results to enhance processes and strengthen contract language.

Contributors: SC&H
Categories: Summit Presentations
SRC Type: Contract Management, Sourcing Management