Contract Management, ongoing management of the contract

An area of concern to me at the moment is one that I believe will become ( or should become ) a key focus for all businesses.

It is often difficult and complicated but the VALUE in £££/$$$ and reputation can be immense.

Often procurement and outsourcing folks secure a great deal, fantastic rates.
They take the glory up front, brag about how much they have saved the company and move on to the next project.

What often is neglected is ongoing contract management to ensure these savings, terms and conditions(T&C's)etc are adhered to.

I want to hear from you on what tools and techniques you are using.