Manage risk with contora
Define the need, Manage the risk, Control project spend.
Contora focuses on spend risk management throughout the contract lifecycle, enhancing supply chain performance, reducing risk, and delivering earned value.
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Inert contracts add no value during execution.
Over 83% of Project Managers believe that traditional Statements of Work (SOW) cause delays during project planning, and add little to no value during the delivery and execution phases.
"Delays to project during drafting and review."
"Lack of operational value during execution phase."
"Only 'adds' value when the project has failed or is in dispute."
The effortless option.
For Project, Finance and Procurement Professionals looking to efficiently create and share detailed project scopes while ensuring governance during execution:
Contora places the contract at the centre of the project plan, keeps spending aligned with the Purchase Order, and ensures that everyone in the supply chain is operating from a single source of truth throughout the execution.
That means plans match budgets, works orders and fees match invoices for:
- Transparency and fairness across the supply chain with each partner giving and receiving their value.
- Avoiding unbudgeted project spend, reconciliation headaches, and approval workflow hangovers!
Standish Group - Chaos Report 2023
Are you controlling project risk?
Contora streamlines outsourced project delivery by ensuring everyone in the supply chain is operating in harmony and from a single source of truth.Â
We simplify everything from contract initiation, to sign-off, to PO reconciliation, ensuring your service procurement runs smoothly from start to finish.
No other platform can provide multi-tier contract visibility throughout the entire supply-chain while ensuring requirements remain consistent.
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the power of co-creation?
Register for a free 30-day trial, or schedule a Contora demo today and see the difference first-hand.Â
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Frequently Asked Questions
A SOW is a document that outlines the scope, objectives, deliverables, and timeline of a project or engagement between a client and a service provider.
A SOW provides a clear understanding of the project requirements, expectations, and responsibilities of both parties. It helps ensure that the project is executed smoothly and that all parties are aligned.
A SOW typically includes project objectives, deliverables, timeline, milestones, resources required, pricing and payment terms, acceptance criteria, and any specific terms and conditions.
SOW platforms provide a centralized and streamlined approach to creating, managing, and tracking SOWs. They offer features such as templates, collaboration tools, version control, and reporting, which help improve efficiency and reduce administrative overhead.
SOW platforms enable better vendor management by providing visibility into vendor performance, contract compliance, and project progress. They facilitate communication, document sharing, and performance tracking, ensuring that vendors meet their obligations.
Yes, some best practices include clearly defining project objectives, scope, and deliverables, using measurable metrics for success, setting realistic timelines, involving key stakeholders in the SOW creation process, and ensuring legal and compliance requirements are addressed.
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We’d be happy to answer any questions you might have.