Stanwell Corporation automates proactive contract compliance management with Open Windows CONTRACTS
The ChallengeStanwell Corporation Limited is Queensland’s largest power generator with the capacity to supply more than 45 per cent of the state’s peak power needs. In the midst of all the demand schedules and critical payment schedules to suppliers, Stanwell realised that a proactive Contract Lifecycle Management solution was required to manage their paper based operation.
The SolutionStanwell implemented Open Windows’ Contract Lifecycle Management solution in 2003, and it has become a critical part of Stanwell’s compliance process. Open Windows Contract Lifecycle Management solution has helped Stanwell become more proactive enabling;
- Notification to multiple stakeholders of impending trigger points – Meaning staff attrition and leave are no longer issues in missing critical dates
- Enforcing key dates – Timely notifications of contract deliverables and compliance items that may otherwise have been missed, allowing them to take action when required.
- Minimising contract risk – Nomination of quantities for large supply contracts are critical to meeting demand in revenue generation. The failure of organisations to meet deadlines in purchasing can run into millions of dollars of lost revenue on a single contract. Missing renewals on leases and ‘right to operate’ agreement result in severe consequences.
The ResultsValue delivery in Stanwell procurement is driven by visibility into group relationships provided by the system and the proactive nature of milestone notifications, knowing what could potentially happen, before it does, allowing staff to act sooner, and ensuring that obligations are fulfilled and deliverables received prior to payments.