PROACTIS Blog

Part 2 – How to Find, Store & Manage All Your Supplier Contracts

Charlotte Sutton
Charlotte Sutton,
PROACTIS
In Part 1, we discussed the impact of poor contract management and the opportunity for organisations to automate their contract monitoring and management processes.
The PROACTIS Contract Management Solution helps organisations to rapidly address this foundational element of Spend Control. Using this solution you will quickly and efficiently put in place:
  • A searchable contract repository with comprehensive electronic information; document attachments; ownership; extensive reporting capabilities; and secure global access
  • Standardised processes to monitor and manage all contracts
  • Integration with purchasing systems to provide contract visibility at buying time, match invoices against contract terms, and collect actual activity (optional and based on capabilities of the purchasing system)

PROACTIS Contract Management provides a highly structured, efficient, and cost-effective process to:

Establish your central electronic contract repository

  • Standardise content requirements and key milestones for all contract types
  • Load existing contracts
  • Cleanse and enrich data and milestone dates
  • Remove errors and duplicates
Build a centralised view of organisation-wide supplier contracts
  • E.g. by spend category, renewal date, etc.
Identify contract ownership and visibility
  • Alert recipients
  • Purchaser access privileges
Put in place ongoing contract management processes
  • New contract registration
  • Milestone alerts
  • Contract review
  • Automated payment
  • Analysis and reporting (e.g. contract rationalisation)
Comprehensive contract management tools
  • PROACTIS will put in place the functional capabilities you need to perform all of the start-up activities and implement effective, ongoing contract management processes. Built around the central contract repository, PROACTIS Contract Management software has several advantages:
  • Comprehensive, best-in-class capabilities
  • Cloud or on-premise deployment
  • Easily grow into additional areas if desired (e.g. sourcing, supplier management, catalogue management, electronic trading)

Expert start-up assistance

PROACTIS Spend Control professionals will work with you and your team to perform all of the activities needed to cleanse your existing supplier records, identify and address current risks, and build a complete view of the supplier base.

PROACTIS will:

  • Configure your contract repository with standard contract templates
  • Upload existing contract information from current electronic sources, if any
  • Perform data cleansing and enrichment, including outreach to suppliers as needed
With guidance from PROACTIS, your team will:
  • Establish the standardised information and milestones to be held per contract type, using PROACTIS templates as a starting point
  • Collect existing paper or scanned contracts and register into repository (optionally have PROACTIS do this)
  • Identify contract owners for automated alerts
Optional ongoing services

If you like, PROACTIS can even provide ongoing support services – either for an initial period or long term. PROACTIS can work as an extension of your Procurement team to:
  • Create customised contract templates
  • Perform specialised contract reporting and analysis
  • Assist with contract rationalisation
  • Integrate the contract repository with your existing purchasing system
This combination of structure, technology, and professional resources delivers everything you need to get started now, realise rapid results and, most importantly, establish a lasting foundation for effective, efficient contract management.
 
 
 
Get in
touch
Attend
an event
Explore
resources