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Contract Management software
Manage and optimize contracts effortlessly and collaboratively
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Contract Management
With Proactis you can increase the proportion of spend under management and on-contract by providing improved visibility and control of contracts throughout the contract lifecycle, and by ensuring that the organization consistently utilizes them when buying goods and services.
All contracts can be recorded and stored centrally, so you will have complete visibility into all required contract information. You will also always have real-time insight into your financial liabilities and a reliable way of maintaining your extensive contract portfolio.
A practical first step to assessing your Source-to-Contract process:
As a Procurement leader in your organization, have you been thinking your sourcing, supplier management and contract management processes could stand to be improved? Or maybe that they desperately need to be improved?
Do you sense that those processes may be wasting precious resources (time, money, talent etc.) because they are not as effective or efficient as they should be?
If it is time to rethink your Source-to-Contract (S2C) process, our Assessment Tool can help you do that in a structured manner.
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With Proactis Contract Management software you can achieve:
Control and visibility across the entire contract lifecycle.
Simple sharing of contract information across your organization.
Effective monitoring and assessment of contract agreements.
Real-time insight into your liabilities.
See everything, instantly
Managing hundreds or thousands of contracts just got easier. You can monitor contract dates and other important details, based on defined criteria (Key Performance Indicators) and notice periods, alerting your team whenever action is needed.
It automatically gathers all purchase activity so you can monitor and analyse supplier performance and buyer commitments easily.
Schedule key events - and never miss them
Avoid missing contract renewal dates, compliance checks and other important events.
The system remembers and alerts you automatically, so every event is addressed at the desired time.
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Transparent processes and procedures
The solution ensures that everyone uses the most recent version of a contract and complies with the correct terms and conditions.
Product catalogs can be linked to contract data for maximum efficiency. The solution becomes more powerful when combined with Proactis’ Procurement solution.
Control every contract
The solution supports all forms of contract, from new to recurring. Recurrent contract obligations (such as leases and telephone or maintenance costs) can be easily defined and monitored, giving a clear insight into financial liabilities and resulting in smarter and faster invoice processing.
The incorporated Document Management System means you can store all details captured in any sort of document and retrieve these easily.
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Our experts will guide you through our Contract Management solution and answer all of your questions:
Contract Management FAQs
What is contract management software?
Purchasing professionals work hard to identify the best suppliers and negotiate ‘best value’ agreements. Contracts ‘lock in’ those terms for use by the organization. But those advantages are lost when contracts are not applied as purchases are made – perhaps because contracts are not available or apparent at the time of buying. And both organizations may be at risk if contracts expire or if either party fails to maintain compliance with contract provisions.
Contract Management provides a central electronic repository for all types of supplier contracts, with links to purchasing systems that make them fully visible to buyers. Purchase and delivery activity are automatically collected for analysis of supplier performance and buyer commitments, and contract dates and other criteria are continually monitored, alerting the appropriate people when reviews or actions are needed.
What are the challenges that Contract Management can solve?
There are many challenges to bringing spend under contract:
Contracts are often filed in different places, making it difficult to know where to find a particular contract (and virtually impossible to get a consolidated view of liabilities).
Distributed contract management leads to duplicate agreements and missed opportunities for volume-based savings.
Contract review dates are often missed, resulting in unexpected lapses and unwanted automatic renewals.
Buyers have no visibility of contracts at point of purchase leading to purchases being made off-contract, resulting in missed savings and poor vendor relationships.
Without automatic capture of actual purchase and delivery activity, it is very difficult to measure contract compliance.
Read: Contract management at-a-click
What are the benefits of using a Contract Management system?
Contract Management helps you increase spend "under management" and "on-contract" by providing improved visibility and control of contracts throughout the contract lifecycle, and by ensuring that the organization consistently utilizes established contracts when buying goods and services. Contract Management enables:
Control and visibility across the entire contract lifecycle.
Simple sharing of contract information across your organization.
Effective monitoring and assessment of contract agreements.
Real-time insight into your liabilities.
Read: Effective Contract Management and Administration
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