Manage Service Contracts RCM

Strong procurement and contract management practices help organizations control costs, improve vendor oversight and reduce compliance exposure. This RCM, focused on managing service contracts, provides a practical framework for evaluating risks and controls across key contract management activities, including bid documentation, vendor selection, approval requirements, legal review, contract monitoring and periodic audits. Download this tool to assess whether your organization’s current service contract processes include appropriate documentation, authorization and review procedures and help your internal audit, compliance, procurement and finance teams develop more consistent vendor relationship practices.

Key Features:

• Strengthens vendor evaluation through documented bids, selection criteria and sole-source justification.
• Clarifies approval expectations for significant purchases, related-party transactions and major capital expenditures.
• Promotes stronger contract oversight through legal, management and independent review processes.
• Supports ongoing monitoring through periodic audits, vendor performance reviews and pricing verification.