Procurements & Contract Management Application
Ensure adequate due diligence on every vendor or service agreement over the entire contract lifecycle, including intake, review, and renewal.
What is the Procurement & Contract Management Application?
The Application centralizes contract management processes to provide continuous visibility into pending and active contracts across the enterprise, ensuring compliance with legal requirements and strategic initiatives. It enhances efficiency with automated workflows for approvals, renewals, and compliance tracking, ensuring that all contracts are managed effectively.
Centralize Vendor Procurement and Contract Management
Create a unified source of truth for vendor procurement and contract management, integrating various departments and processes with configurable workflows.
Increase Process Adoption
Create a centralized hub for vendor management that streamlines the gathering, reviewing, and approving of vendor information. Use standardized forms with progress indicators to notify procurement teams about completed requests. Automate contracting workflows upon vendor approval, assigning relationship owners to legal review tasks. Enhance adoption by integrating with popular tools like DocuSign, Google Drive, Slack, and Microsoft 365.
Monitor and Identify Breach of Contracts
Stay ahead of underperforming vendors with automated review notifications. Notify contract owners on a set cadence to reassess vendor performance, then track high, medium, and low in a single click. Proactively engage your legal team to review low-performing vendors and all related contract data to take appropriate action and mitigate third-party risk.
Gain Real-Time Insights into Contract Lifecycle Management
Centralize your contract management data to gain real-time insight into key contract details like outstanding vendor reviews, SLA performance, and upcoming renewals. Keep key stakeholders informed with visual reports and executive dashboards highlighting program status and trends over time. Mature your procurement and contract management program over time without costly change orders or IT support.