5 Components of a Streamlined, Best Practice Contract Management Process

Devin Meister

February 11, 2022

Reservation contracts are one of the most critical – and potentially complex – interactions recreation departments can have with patrons.

They’re critical because they provide great revenue opportunities for the organization while also introducing significant legal liabilities and responsibilities. But the potential for errors or mistakes due to all of the moving parts, slight variations in details, and complexity can make them a headache for staff, raise liability concerns for leadership, and create frustration for patrons who just want what they want. An integrated contract management solution streamlines the process and eliminates many of the negatives and associated risks. Following are five key items to consider in searching for an integrated contract management solution.

1. Facility Reservations

If you have more than one venue, chances are that no two are exactly alike. And there the discrepancies begin. Accurately noting, pricing, and reserving facilities for patrons is the first step to a successful contract. Making the booking information accessible to others across the organization is the key to creating a great user experience across your community.

2. Adding Inventory Items

The details are what help make events memorable, and in many instances, accessible to patrons. Having all of the items required or requested on the same contract simplifies the process for everyone and levels expectations from the start. Bundling facility reservations with the booking of rental items make your services much more marketable and easier to manage.

3. Contract Document Generation

Streamlining contract generation helps to ensure that all parties are aware of what is or isn’t included in the contract. The contract document should be completely customizable with the ability to have many iterations (all custom) to make it as accurate and comprehensive as possible. It makes it easy to make changes, get reviews or approvals, all prior to a final contract. Automatically generating a final contract ensures that nothing is left out and that it meets organizational standards.

4. Payments

Making business easy to do is always a good thing. Creating repeatable payment plan templates or custom-tailored payment plans can greatly simplify your processes. An integrated payment plan makes it easy to accept payments in the patrons preferred method, resulting in an excellent experience. For example, you could send invoices for payments due or automatically debit accounts or credit cards on file. Instituting comprehensive and consistent payment plans also ensures the accurate accounting and reporting of the funds received.

5. File Archives

No one likes doing things over unnecessarily. And with everyone’s budget pressed, parks and rec departments and organizations everywhere want to know how assets are being used and what their returns are. Archiving your contracts will enable you to look back at specific contracts to recreate them or look at them in aggregate to see trends and spot opportunities to increase usage, or justify future spending.

With everyone doing more with less, being able to quickly and accurately create accurate contracts helps you serve your community and frees up your staff for other tasks and interactions with patrons. Take a look at your current contract process to see where you could improve. If you can’t address any or all of the items listed above, it’s time for a contract audit. Contact us to schedule a custom consultation.

Learn more about Vermont Systems Integrated Contract Management

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