In my previous role, I negotiated a multi-year service agreement with a key supplier. The challenge was to balance cost reduction with maintaining high service levels. I employed a strategy of phased negotiations, starting with service level agreements to ensure quality, followed by pricing discussions. This approach allowed me to build a strong relationship based on mutual trust and resulted in a 10% cost reduction without compromising service quality.

I maintain a rigorous process of reviewing all contracts against current legal and regulatory standards. This involves regular training updates and collaboration with legal counsel to ensure all terms and conditions are compliant. I also implement a checklist system that is updated annually to reflect any changes in legislation, ensuring all team members are aligned and compliant in their contract management practices.

I am proficient in using contract lifecycle management (CLM) software such as Concord, Apttus, and Icertis. These tools help in streamlining the contract process from creation to execution and management. I also utilize Microsoft Office Suite, particularly Excel for tracking contract milestones and performance metrics, ensuring efficient contract administration and reporting.

I approach conflicts by first understanding the underlying concerns of all parties involved. Open communication and active listening are key. I then propose mutually beneficial solutions, often involving compromise or creative problem-solving. For instance, if pricing is a sticking point, I might suggest a performance-based pricing model that aligns incentives and mitigates risk for both parties.

In my previous role, I developed a comprehensive system for monitoring contract performance using KPIs and regular status reports. This involved setting up automated alerts for contract milestones and performance thresholds. I also conducted quarterly reviews with stakeholders to discuss performance against objectives, identify any issues, and adjust strategies as necessary. This proactive approach ensured that contracts were not only compliant but also delivered optimal value.