The contract management process can be complicated and time-consuming for construction companies, often distracting the business from its core pursuit of delivering projects on time and within budget.
After several years in the industry, construction contract specialist Cameron Staude, Director and Co-founder at NSDV has seen repeated contract mismanagement and its adverse financial implications, particularly when it comes to the claims process. “Many companies lose claims on technical contractual errors and it’s completely avoidable,” says Staude.
Whilst contractual errors can translate into more billable hours for legal specialists, NSDV has a different approach and is focused on increasing profitability and success on behalf of their clients.
“We’re so passionate about assisting our clients that we take on risk to align ourselves to their success. It’s our win-win philosophy and we wanted to use the status quo as an opportunity to create an outsources solution that is fair and in favour of construction companies,” adds Staude.
By outsourcing the necessary contract establishment, management, and claims processes, the firm provides a marked increase in successful claims which will significantly impact on profitability.
“Each tier in the contract management process has a material impact on the next, and we ensure that every phase is handled correctly so that claims are successful, and the bottom line is protected. Last year we managed to save one of clients 20% of their project budget which they would have spent on legal fees by implementing NSDV’s contract management solution,” comments Staude.
Something as simple as a pricing error in the tender phase can negatively impact a contractor’s profitability and NSDV assures clients of three expertly delivered contractual services, all of which are pivotal to the successful claims process:
- The careful establishment and maintenance of contracts, developed with you and your team
- Strong contract compliance throughout its duration
- The collation of a comprehensive but navigable document and audit trail
Submitted by NSDV