Contract Management Services
Is Your Energy Contract Management Solution Working?
Energy contract negotiations, implementation and follow-up are all important considerations when it comes to your company’s success. On the other hand, inefficient energy contract management can cause a breakdown in vendor relationships, disrupt vital energy supplies, and even lead to lost revenues and legal action. Since 1987, UMC Solutions has been showing clients who compete in diverse markets how to minimize their exposure risk and maximize their profits with our reliable energy contract management services.
The Importance of Vendor Relationships
In layman’s terms, contract management is the administration of contracts between a company and its many vendors. Continuously managing your energy contracts is essential to your company’s bottom line because it helps maximize vendor performance, which minimizes your financial and operational exposure. In other words, the stronger your energy sector vendor relationships, the more likely it is that your business will be successful.
The 3 key areas of managing a vendor relationship are:
Contract administration: Is your supplier adhering to all the terms found in the original contractual agreement?
Service delivery and performance: Are your vendors delivering the price, performance and quality they promised during the service contract negotiations?
The relationship itself: Is the relationship mutually constructive and trouble-free?
As you can see, effective contract management can be time-consuming and challenging. That’s where UMC can step in and ensure efficient contract management so you can focus on more pressing issues at your company.
Our Contract Management Strategy
At UMC Solutions, we focus on these critical phases of an effective contract management process:
Creation. This starts by submitting a Request-for-Proposal (RFP) or Request-for-Quote (RFQ) to the energy supplier based on their reputation, prices and service capabilities. Most importantly, do they have what you need to meet your company’s overall energy procurement objectives?
Negotiations. Once UMC has your approval, we start negotiations on your behalf to ensure the most favorable terms and prices possible within an ever-changing energy market.
Compliance. This involves constant contract monitoring and follow-up to ensure all negotiated terms are being met by your energy suppliers. To do so, Service Level Agreements (SLAs) and Key Performance Indicators (KPIs) are put in place to monitor the day-to-day performance of your vendors.
Managing change. As problems arise, for example one of your sites needs to increase its electricity usage, UMC will help you communicate and effectively manage those changes with your utility provider.
Documentation. We’ll make sure those agreed-upon service changes are put in writing and forwarded to you for approval.
Analysis. Thanks to the capabilities of our powerful BILLPAY service, your energy consumption and billing information can be continuously monitored by our energy analysts. In addition, any rebates or other benefits that you’re eligible for through the energy supplier will be documented and brought to your attention.
From beginning to end, rest assured that UMC’s robust contract management process will help you minimize your exposure risk and maximize your profits!
Reliable Energy Contract Management Solutions for Businesses
At UMC Solutions, we provide businesses big and small with reliable, cost-saving energy contract management support. For over 30 years now, we’ve been changing the status quo, and restoring our clients’ peace-of-mind, with our full-service utility bill management solutions. If we can help your company improve its bottom line, call UMC today at: 601-948-2360, or contact us by using our convenient contact form now!
