According to Aberdeen, approximately 50% of companies admitted to having poor visibility into supplier contracts, making it difficult to track and monitor them, and an astounding 80% of enterprises are using manual or only partially automated processes to carry out contract management activities.
The b-pack Contract Management module ensures implementation of and compliance with the contracts by optimising the overview and visibility from initiation to re-negotiation. Users of Contract Management will experience increased control of the contracts, which will lead to enhanced efficiency of the process regarding contract negotiations and maintenance.
Contract Management within b-pack
The contract management within b-pack is fully embedded with all the functions of the purchase-to-pay cycle, including the Sourcing and RFQ to select the right supplier, the supplier management including the supplier score-carding and the procurement operation to ensure the contract compliance. It includes 3 parts:
- Contract Authoring
- Contract Repository
- Contract Compliance
Contract Authoring
Contract Authoring is a customer driven workflow that enables the contract building within a structured process that you define. Following the sourcing and supplier selection, you will be able to engage in the contract creation with the supplier, based of a clause repository and following pre-designed contract templates and processes. The system includes features such as a powerful workflow, risk management, contract version management, contract terms, attributes repository, transition from contract document to contract compliance.
Contract Repository
The Contract Repository enables to store the documents and to associate those contracts to suppliers and specific contract applications. The evolution on this modules includes a full document search engine in order look for specific terms or clauses within the application.
Contract Compliance
The Contract Compliance in b-pack is the capability to apply the contract clauses and attributes within the procurement process. b-pack will support different types of purchasing contracts such as catalogs agreements, open services (ie: IT work orders on demand), recurring services (ie: utilities, catering, …). As mentioned above, the list of attributes within the contracts is customizable to your requirements. The features associated with the contract compliance include: Umbrella contract management, Users notifications, budget management associated with the contract, service level agreements warning, vendor score carding, …
If you have questions or need more information, don’t hesitate to contact us.
