What is Contract Management?

Contract Management is a term used to describe the activities of a company that provides a seamless process of engaging your services through one company over a number of separate assignments.  Whether this is by means of an Umbrella Company or a Contracting Company doesn't matter.  A Contract Management Company will invoice for your services, collect the cash from your client and remit it to you.  If you are self-employed you will be required to invoice your management company for the services you have provided, if you are an employee you may have to provide a timesheet or as is more often the case your assignment hours will be collected from the client and used in the calculation of your wages.

The benefits of using contract management are that you will be dealing with one company throughout your period of working.  If you are an employee this provides continuity of employment which can be useful for things like mortgage applications or bank loans.  If you are self-employed there is a further benefit in that the management company is probably large enough to obtain significant discounts on insurances that will lower your outgoings by reducing the cost of maintaining your self-employed status.

At Bar 2 we have been in the business of contract management for trade's people for over 11 years, proving that we are a stable profitable company.  If you are an individual with a skill which is in demand and you are taking on a short term assignment for the first time you should speak to us today.  Likewise if you are an experienced contractor who would like to dispense with a lot of the paperwork that comes with managing your own engagements, Bar 2 may be of interest to you.