The purpose of contract management is to ensure that all parties to the contract fully meet their respective obligations as efficiently and effectively as possible, delivering the business and operational outputs required from the contract and providing value for money.
Today’s in-house teams are faced with many challenges, including managing and administering a constantly increasing amount of legal information, particularly in the area of contracts. If stakeholders do not have a solid grasp of what is involved, they can waste a considerable amount of time and efforts without getting any good results. Furthermore, stakeholders come from different business units – Legal, Finance, Procurement – and all these need to be on the same page with regard to the contract.
See The Improvements in Your Contract Management
All participants including supplier receive notifications well in advance of key milestone dates, and encourage proactive engagement.
Maximize Contracting Potential
You can increase your team efficiency and throughput with: Pre-approved Terms and Conditions, Standard agreement templates, Standard and Automated Tasks and Alerts, Integrated payment validation against contracted terms and much more.
At a glance, get informed on the status of all contracts and stay engaged throughout the contract cycle with automated alerts, and scheduled tasks.
Gain Actionable Insights
Gain understanding you need to streamline operational processing and improve contract performance outcomes. How long is the cycle from contract initiation to signature? Which are the most profitable contracts?
Invite multiple participants. All stakeholders involved throuhgout the lifecycle of the contract are kept informed and engaged. Not a single person is left in the dark.
Fast Return On Investment (ROI)
The system can be deployed within hours, and by taking advantage of our cloud deployment, no additional cost is incurred in infrastructure.