Contact Administration

Testimonial – Juliet E.

AMS-PAR's auditor was great, and was clear and concise with her requests. She was a pleasure to work with.

Testimonial – Terry M.

The last thing a busy oil and gas accountant wants to find in the morning mail is an audit notice.  However, from initial contact through final report, the AMS-PAR audit team was courteous and professional.  Their software, particularly the Information Request (IR)...

Testimonial – Kevin A.

It has been an absolute pleasure working with AMS-PAR on this assignment, certantly a well managed, professional, and efficient operation.

Testimonial – Joe D.

I want to thank you and your company for the service that the audit team provided. I could not have done what they are doing without their help and support.  I have enjoyed working with the team and appreciate the approach taken to get into the meat of the project.

Testimonial – Ashley O.

All requests were clearly communicated and labelled. This made it simple to plan and allocate our resources required to complete tasks, as well as respond efficiently. Any correspondence was easy to track with the use of request numbers and upload system.

Testimonial – Mike M.

My team respects AMS-PAR's work and has never had issues with documentation.

Testimonial – Janet R.

The lead auditor conducted the audit in a very professional way, and always kept the communication channels open for discussion, feedback, and questioning.

Testimonial – Tom J.

The audit was scheduled well in advance and an experienced revenue auditor did the audit.

Testimonial – Melanie G.

We were extremely grateful to work with someone as professional and knowledgeable about our industry.  We hope to work with your group again in the near future!!

Testimonial – Misty C.

The exchange of information is effortless.

Testimonial – Melanie G.

We were extremely grateful to work with someone as professional and knowledegable about our industry.

Testimonial – Brian P.

The field lead was very efficient and knowledgeable that minimized business disruptions.

Testimonial – Tom J.

The auditor was industry experienced. Due to the complexity of the revenue distribution, it was helpful that an experienced auditor did the audit.

Testimonial – Feliz M.

Sincerely I wish more audits were handled in this procedure.

Testimonial – John A.

AMS-PAR's IR system helps me prioritize my work.

Testimonial – Brian P.

The data requests are submitted and tracked in an organized manner

Testimonial – Robert G.

As a revenue auditor I did not realize the significance of field asset verification until I hired AMS-PAR to assist me.  AMS-PAR conducted a field office and discovered a Sales Meter on every pad that was not accounted for in the Schematics.  This oversight...

Testimonial – Brandy Bell

The audit was orderly and each request was specific.

Testimonial – Tom J.

AMS-PAR uses experienced auditors.

Testimonial – Brian P.

The field lead was very efficient and knowledgeable that minimized business disruptions.

What is Contract Administration?

In its simplest form, Contract Administration is the process of planning for, negotiating, and executing a contract for goods or services.  Depending on the type and complexity of the contract, the administrative effort may require a multi-disciplined team to effectively plan for and manage the risks throughout the contract’s life cycle.

Why Implement a Contract Administration Program?

Effectively managing a supplier contract or capital project is often a team effort. Research suggests that a significant portion of a contract’s expected value is never realized due to ineffective contract management, particularly later in the contract term.  Reasons why the expected value is not achieved include:

  • Failure to involve all stakeholders early in the process
  • Ineffective transfer from contract negotiation to execution
  • Misinterpretation or misapplication of contract provisions
  • Deviation from the negotiated terms
  • Failure to validate compliance with agreed terms and conditions

Assembling a contract administration team early in the process is important and allows for each member to leverage their particular skill set for the benefit of the project.  Project and financial controls specialists are important members of the team.  Duties often performed by these members include:

  • Crafting contract language that is clear and “workable”
  • Vetting vendors and suppliers
  • Evaluating bid proposals
  • Managing budgets
  • Monitoring performance metrics
  • Reviewing supplier invoices for compliance with agreed terms and conditions. This work is often performed on a real-time or interim basis rather than retrospectively.

Retrospective audits may recapture some of the value lost due to contract interpretation or implementation, but achieving financial recoveries will be hampered by:

  • The audit being conducted years after payment is made
  • Data supporting transactions may be lost or not readily available
  • The evaluation will likely be of sampled transactions and the extrapolation method may be challenged
  • Consistent erroneous contract interpretation may be considered tacit approval of the errant practice
  • The subject matter experts (SMEs) with respect to the contractual intent may no longer be available to arbitrate disputes

Conducting real-time or interim audits will identify issues sooner in the process allowing for immediate corrective action that will stop the contract leakage.  Active contract administration helps all parties make better decisions, resolves discrepancies early, and improves overall contract compliance.

Why AMS-PAR?

AMS-PAR’s contract administration service offering is tailored to each client’s individual needs, Our team is ready to help minimize contract leakage and improve the valued realized from your contracts.  We take great effort to match the skills of our staff with the specific needs of your audit, ensuring that the team can operate at maximum efficiency.