What can contract management eProcurement software do?

Managing all the supplier contracts that your business has can be a time-intensive process if you are keeping track of everything manually.

Purchasing staff work hard to identify the best suppliers and negotiate best value agreements. Contracts formalise those terms for use by the organisation, but those advantages are lost when contracts are not applied as purchases are made.

A contract management module within an eProcurement system provides a central place for all supplier contracts to be monitored and implemented, providing clear visibility and allowing for automated reminders.

PROACTIS Contract Management helps purchasing departments increase the proportion of spend “under management” and “on contract” by automation and decision support.

With PROACTIS, companies can better realise savings achieved during procurement negotiations and increase compliance by allowing contracts to drive day-to-day operations.

Features include:

• Payment schedules allow financial transactions to be initiated within the contracts system with auto feed into the purchase-to-pay system
• Supplier bid history shows the contract bid from every supplier, including the awarded contract and, subject to sufficient authority, the ability to re-award
• User roles designate specific access/capability rights to named users for each contract management function
• Extensive search capabilities provide a simple way to identify and retrieve contracts
• Direct feed or import from source systems to minimise maintenance functions and reduce input error