At Buyers Edge, we like to make sure you’re making the most out of all of your purchasing decisions. That’s why we offer reports specific to what you buy and that can show you in real-time cost savings opportunities. Our contract renewal report is one way you can take a deep dive into how your purchasing habits line up with your contracts. Each report shown you where you can make changes that will significantly impact your bottom line.
The contract renewal report is run whenever a contract is up and showcases the areas where a client may want to review, cancel, or change what’s in their contracts. Using our software and contract expertise, we show the client what they are buying compared to their contract deals. By seeing the data behind the quantities and total purchases they are making throughout the contract lifecycle, they can make smarter decisions when re-upping their deals.
The report includes:
- A summary at the top of the report that shows the quantity and dollars of how many of their purchases were covered by the contract.
- A detailed list of what the client is purchasing, but doesn’t have on contract.
- Items that are on contract but aren’t being purchased
- Private-label items that the client is buying.
The list of what they have been purchasing that is not on contract gives them the opportunity to extend the contract’s coverage to include those items. In the same vein, items that aren’t being purchased may be something they want to remove.
As an additional benefit to our clients, we highlight private-label items that they are already buying. These items won’t be contracted and the client might be able to find a better deal with a branded product and we’re happy to help start that search.
Are your contracts up for renewal soon? Contact us today to get access to your renewal report.