4 Common Issues in Maintenance Contract Management and How to Address Them
Maintenance contracts are intended to assure organizations that assets essential to running their business operations are well maintained and supported. However, with a lack of maintenance contract management, contracts can easily become a risk for your organization. Proper maintenance and management for your contracts is crucial for your systems in order to ensure reliable operations, compliance, security, and cost savings. While maintenance can be the main expense for ownership in some types of IT equipment, using a proactive management plan can save organizations a significant amount of money in the long run.
Let’s look into the four most common complications in maintenance contract management and how they can be avoided:
1. Too many contracts
As the number of contracts for your company increases, it easily becomes difficult to keep them up to date. It is commonly assumed that a large number of contracts results in better coverage, but ultimately it can hinder productivity. Employees struggle to understand complex contract language and keep their contracts aligned with business requirements, which is why consolidating contracts when possible reduces the amount of time spent overcoming these complexities.
2. Keeping contracts up to date
Maintenance contracts commonly follow an annual cycle that covers repairs and replacements of assets for one year.
Organizations with frequently changing needs and tech upgrades can be limited by annual contracts, making it beneficial for organizations to have the option to update contracts on a shorter timeline (e.g., monthly, weekly, or daily)
3. Inconsistency Between Contracts
It can be challenging and time-consuming for an organization to organize and understand each maintenance contract. The more maintenance contracts your organization acquires, the easier it is to overlook key inconsistencies. You may have more coverage than your contract needs or discrepancies between other documents which could be an expense and/or risk to your organization if the equipment were to break down.
4. Ensuring the correct service amount
Due to contract discrepancies, maintenance contracts might not be providing the level of service you think you are receiving. This can lead to organizations potentially overpaying for their current service or not having enough service coverage to fully support their equipment.
How To Address These Issues
ChannelWorks understands the importance of solving these issues and how difficult it is for organizations to do this on their own, which is why we created ChannelView.
ChannelView is our online asset management tool for you and your customers that resolves these issues and gives you total control over your maintenance contracts. ChannelView allows you to save time and money by knowing exactly what your maintenance contracts say and where they stand concerning their operational requirements.
Our team at ChannelWorks can assist you in adopting ChannelView into your organization and take you through how to easily use the many capabilities and benefits ChannelView has to offer.