PerfectContract: Contract Lifecycle Management Solution
PerfectContract, our Contract Lifecycle Management (CLM) solution, helps sourcing and procurement departments reduce contract negotiation time and gain significant cost savings through better management of supplier contracts. PerfectContract modules include:
PerfectContract allows users to automate contract creation, streamline approval and authorization workflow, centralize contract content, monitor upcoming renewals, report and analyze contract data, and improve overall contract compliance.
- Full Contract Lifecycle Management
Contract Manager provides the tracking and management system necessary to optimize buyer-supplier relationships throughout the contract lifecycle. With Contract Manager, key stakeholders from across the organization can generate new contracts, access legacy contract information, and monitor contract performance.
- Automated Contract Creation
Through the use of templates and preapproved clauses, users can quickly create new contracts or easily amend existing ones.
- Streamlined Routing, Approval, and Authorization
Following contract creation, Contract Manager streamlines the routing, modification, and approval processes, reducing the amount of time and resources spent on contract management.
- Centralized Contract Visibility
Via a centralized repository, users can access all contracts, carry out searches based on a variety of parameters, customize notifications, and manage administrative functions.
- Proactive Renewal Management
Proactive renewal management enables timely contract renewals via notification of expiring contracts. Contract start and end dates are automatically highlighted and tracked, and expiration alerts ensure that sufficient time is allotted for renegotiation.
- Spend-Monitoring for Contract Compliance
Spend-monitoring promotes contract compliance through predetermined threshold levels that help users track invoice spend. Notifications alert users when thresholds are met. Full ad-hoc report-building allows users to view the status of contracts and clauses.
Request Manager delivers a centralized solution to manage all requests for sourcing activities. Through a customizable, template-driven framework, Request Manager provides a platform for companywide request submissions to the sourcing department.
- Customized Templates
Customized request templates created by the sourcing department ensure that the required information is captured in the initial request, minimizing back-and-forth communication and speeding up the sourcing process.
- Pending Requests and Notifications
Users can easily view pending requests by status, category, and receive/send notifications, providing visibility to all participating departments.
- Full Request-to-Contract Traceability
By keeping requests and contract details in one system, the organization can improve performance by viewing the entire process from start to finish. Along with request messaging, all contracts are linked to the original request for complete audit traceability.
To find out more information about PerfecContract, download the product brochure.