Contract Management in Procurement

Contract Management in Procurement – Software that Remembers Important Dates So You Don’t have to.

Contract management in procurement can be fraught with human error if managed using manual methods such as paper files or spreadsheets. If your business or organisation deals with vendor contracts, you’ll know exactly how costly it can be when certain details like contract renewal slip through the cracks. Adopting a cloud based contract management system can help you keep track of every stage of your contract lifecycle from inception to renewal, in one simple interface. Much like sharepoint contract management, WebCM’s contract management software will enable you to:

 

  • Automate your system’s workflows – streamline your system with sharepoint contract management style automation, to save you time and increase your bottom line. For example, your system can be configured so that once an agreement has been signed by both parties and accepted by both, certain actions are triggered automatically to send out invoices or collect payments. You can also schedule alerts to notify you about the details of a contract’s status – whether it’s to do with payments, renewals or expiration dates, your software can be programmed to keep you in the loop!
  • Avoid unwanted automatic renewals by setting up automation features. Don’t get stuck with a vendor because you missed the termination date. Set up your sharepoint contract management style system from the beginning and decide when the reminders will be sent out – before, on or after that date. Choose who will receive the alerts and in what format (email, system notices, or both) and how many times they’ll be reminded that their attention is needed.
  • Stay on top of all the details with Contract Management in procurement software that remembers them all so that you don’t have to. You’ll have the option to set up blanket alert rules so that your system will remind you every time an action needs to be taken, such as automatically letting you know when a vendor hasn’t paid their invoice, or a contract is coming up for renewal. You’ll be free to use the time (and memory) you’ve saved on other tasks and responsibilities.

The Benefits of Using WebCM for Contract Management in Procurement

  • The scalable architecture of WebCM’s contract management system can be expanded to align with the size of your business as it grows.
  • Features are configured to suit the individual needs of your business.
  • User-friendly interface and functionality allow staff or those with approved access to learn only the features and components of the software that they need. This makes training easy and fast!
  • All contracts are stored online in the cloud, safely secured against natural disasters, accidents and theft. Files can be always easily accessed away from business premises by those with clearance using a laptop, tablet or smartphone connected to the internet. You can log in anywhere at any time – day or night, Monday through Sunday.

Try Our Open-Source Contract Management Software Free for 90 Days

Software for Contract Management in procurement is a crucial tool for any organisation that has multiple suppliers or vendors. It will help you to streamline the process of managing contracts, payments and other information related to your vendor relationships. There’s a lot that can go right in the procurement cycle if you have the right system in place. There’s also a lot that can go wrong if you don’t. At WebCM we believe our open-source Contract Management Software, much like sharepoint contract management software will go above and beyond to deliver. But don’t just take our word for it – try it for yourself! Contact us for a free 90-day trial and experience the benefits in real-time.