Missed Renewal & Expiration Dates every time? Missed no more with CMX Contract Experience!
CMX Contract Experience professionals love framework contracts. The ones that serve for 36 or 48 or more months. And it is certainly very useful, you arrange a tender already and then you just execute the contract for times.
But seldom we got used to a secured supply chain, regular, recurring deliveries and we ignore about expiry dates. Even if suppliers remain to deliver and invoice you, going without a contract is unsafe for the following obvious reasons:
- You might miss the discounts applicable to other buyers, because you did not re-tender, renew or renegotiate your contract
- You cannot claim or report any complaint if you are unhappy with the delivery (remember, you have no agreement)
- Any auditor will see you continued to work without a contract
- You might miss new product lines
So, how to watch the expiry dates? With a simple Contract Monitor Excel file that shall assist you by warning you, should the expiry date come? All you must to do is enter the expiry date once. Color-coded cells will automatically notify you of the approaching deadline:
- Red – your contract is at risk and will expire soon.
- Yellow – you need to start your tendering or renewal process
- Green – you still have time
CMX Contract Experience monitored over 100 e-contract solutions and announced them on its website, though, compact and plain Excel files seldom are fairly helpful and valuable.