Knowledge of Contract Expiry
Education Buying’s contracts register tool enables schools and trusts to monitor contract expiry dates proactively, avoiding hasty decisions and providing ample time to explore alternative options.
Enhanced Supplier Relationships
A centralised contract repository enhances communication and record-keeping between schools and suppliers, fostering stronger relationships and ensuring all parties remain aligned.
Compliance and Risk Management
The tool supports compliance and risk management by tracking adherence to contract terms and maintaining a detailed, auditable record of all contracts and any amendments, thereby protecting against potential legal and operational issues.
Time for Alternatives
By preventing automatic contract rollovers, the centralised register gives schools sufficient time to consider and evaluate alternative options, leading to more informed decision-making aligned with their strategic objectives.
Auditable Record
Transparency and accountability are ensured through the tool’s provision of an auditable record of all contract actions, facilitating easy review and oversight.
Benchmarking and Spend Analysis
The tool offers capabilities for benchmarking contracts and analysing expenditures beyond existing contracts, contributing to more strategic financial planning.
Renewal Automation
Automated renewal notifications within the tool help identify upcoming contract renewals, saving time and ensuring continuity by preventing missed deadlines.
