Huron Consulting Group specializes in contract management. Consultants work with businesses to ensure that terms of individual contracts are met, and to revise overall contract management processes.
Risk management, regulatory compliance and cost control are the goals of all contract management services. For Huron Consulting Group that process begins with consultants meeting with client representatives to gain background information on current contract management processes, as well as on future company goals and initiatives. Key representatives from a client’s legal, sales, procurement, finance and compliance departments meet with Huron Consulting Group staff in the initial phases to help them glean a total picture of the company’s contract management process. For companies that desire a deeper understanding of their contracts, Huron Consulting Group offers discovery services that provide an analytical summary of the performance of legacy contracts. From there, Huron Consulting Group sets out to the customize contract management with new tools and processes that are designed to promote organization and control.
Huron Consulting Group also offers a contract review service. It functions as a cost recovery program and focuses on revising the terms of business contracts that are no longer being enforced and finding areas where obligations that are not being met can be leveraged to increase revenue. Huron Consulting Group also monitors terms and conditions of existing contracts to ensure that ever-changing regulatory requirements are met, and to ensure that contractual obligations are being met in an efficient way. Huron Consulting Group also analyzes best industry practices and consults clients on how their contract management processes compare to those standards.
Huron Consulting Group also offers its clients contract drafting services. It’s an application that allows a contract drafter to generate a business contract from anywhere with a mobile phone. These contracts can be customized with the application, and provides a solution for companies that need to generate contracts on the go, or on short notice. It eliminates the need for verbal agreements or lag time between an agreement and the execution of a contract. The application can be integrated into existing systems and embedded into a company’s intranet.