The list of contracts, procurements and supplier agreements your school needs can seem never-ending. From utilities to Wi-Fi, computer systems to sports equipment, each of the services or goods that your school uses likely come with a contract agreement from the supplier, making for a whole lot of paperwork and admin to keep on top of.

Having an accurate record and understanding of relevant contracts is essential to the smooth day to day running of your school – your staff may not be able to do their jobs properly if the Wi-Fi contract has expired or if an automatically renewed contract has exceeded your budget.

But there’s more to contract management than simply keeping track of contracts; with a precise awareness of what your school has in place, you can make sure each contract remains fit for purpose and the best value for money, which is now more important than ever in the face of ever-increasing cuts.

Here we’ve outlined the reasons why contract management is so important to your school.

What contracts do you have in place?

It’s vital to know exactly what contracts your school has in order to manage them effectively. Which are your most high-value contracts? Which have the longest tie-in period? Have any of them caused the school problems in the past?

Is each contract delivering?

Once a goods or service agreement is made, it can be tempting to just file away the paperwork and never dig it out again until the renewal comes around.

But by monitoring the terms and key performance indicators of the agreement against what the supplier goes on to deliver, any discrepancies or problems, or indeed anything that constitutes a breach of contract, will be highlighted immediately rather than after it is too late to rectify.

Not only that, you’ll be fully aware of the school’s responsibilities within each contract too, meaning that any tasks that fall to you are fulfilled.

Is each contract on budget?

Most long-standing service agreements involve routine ‘roll over’ cost increases over time, even if there’s no change to the service itself. Keeping track of contract renewals, extensions and price hikes prevent any nasty surprises affecting your budget and gives you enough time to find a new supplier if necessary, before your existing contract ends.

There may also be opportunities to review and condense your school’s contracts which can lead to considerable savings. It very rarely pays to stay in the same contract year after year without making any changes, so managing your contracts can encourage you to shop around for the best possible deals.

How can asset management software help?

Investing in an asset management system to manage your school’s contracts makes this time-consuming and onerous process a breeze. The contract management software in our asset management system provides instant access, comparisons, alerts and records of even the minutiae of each contract and service agreement, so you can easily stay on top of things and make improvements wherever possible.

What about MATs and federations?

is capable of both local and centralised contract management, so whether you are responsible for overseeing the contracts of a single school, a multi academy trust or federation, our asset management system can help.

And we can save your school money – a trust of 20 schools with 20 different utility contracts in place could save tens of thousands by consolidating their agreements with a single supplier and making the most of a deal. When you consider that school funding is to be cut by 7-8% in real terms by 2019-2020, effective contract management is a must.

If you want to learn more about how our asset management software can help your school manage its contracts, click here to contact us now.

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Over a decade of collaborative feedback from IT technicians, premises managers, to finance directors in academies and MATs has resulted in a system that helps you share resources, stay compliant, manage contracts and prevent unnecessary expenditure.

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