Solution
Vendor & contract accountability
Renewals, spend and promised value, held in one place.
The problem
The contract was approved on a business case. Nobody examines the business case again until renewal, if then.
Contracts sit in a document system, payments in finance, service levels in someone’s inbox and the renewal date in the vendor’s calendar. When the automatic renewal arrives, the organization pays for another year of a promise nobody measured.
Contract terms on a timeline, a renewal approaching, and spend measured against contract value.
How Renevell addresses it
- One record per agreement
- Vendor Contracts holds the lifecycle, owner, funding, payments, obligations, compliance documents and renewal terms for every contract, with a reference back to the signed document.
- Promises checked rather than filed
- Service levels, phase gates and expected return are recorded at signature and tracked as the work lands, and each vendor’s scorecard is built from that record.
- Increases held to a benchmark
- Annual escalators are measured against indices such as CPI, so that above-market increases are visible before they are accepted.
- Renewals with lead time
- Decision and notice deadlines are tracked, and warnings reach the people who decide early enough to renegotiate or exit.
Who it is for
Technology leaders, vendor managers and procurement teams accountable for a portfolio of contracts and the value each was expected to return.
Finance partners who need committed, paid and delivered to agree without a quarterly reconciliation exercise.