In complex, multi-vendor data center environments, a contract management policy is an essential control tool used to minimize the risk and maximize the benefits of vendor contracts to the enterprise. Adherence to the policy will unify procedure, reduce contract management costs, increase visibility of individual contracts, and improve the analysis of contract performance.
Here’s a template from Info-Tech Research you can use.
This policy includes:
- Contract initiation
- Contract creation
- Contract execution
- Contract compliance and analysis
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