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Contract Management

Spend Management Software

Never miss a contract renewal again. Get more from your vendor contracts, understand how much you're spending and who with. Powerful analytics help you mitigate risks and see greater total contract value.

Contract management software dashboard)

Key features:

  • User-friendly interface

  • Quick-start contracts

  • Contract integrity controls

  • Checklists and activities

  • Variation register

  • Contract variation tracking

  • Automated tracking and reporting

  • Classifications

A rich, diverse customer base

Islington council logo
SIG logo
Anesco logo
Cardiff Uni logo

How Contract Management will benefit your business

Friction-free contracts
Eliminate bottlenecks and ensure smooth contract processes for all stakeholders.
Less admin
Automate workflows and eliminate time-consuming manual input and documents.
Enhanced efficiency
Streamline the entire contract lifecycle and free up more time for your team. 

Why work with Advanced?

Our team is composed of dedicated professionals, committed to delivering top-quality results
Great value, uncompromised quality – that’s our promise to you
From first call to ongoing rollout - we’re here for you

Features and benefits

Quick-start contracts

With Contract Management, fast adoption is guaranteed as contracts can be set up quickly on the system with a minimal amount of data to get up and running. Easily view, organise and manage all your contracts in one easy location. Set up your contracts with minimal fuss and update as the contract progresses and more information flows in.

Benefits of this feature
  • Rapid set up of your vendor contracts in one central system
  • Minimal data set-up required with more added as contract progresses
  • Quickly gain an overview of your vendor contracts

Contract performance reviews and health checks

With Contract Management, get real, actionable insights on a range of factors, including contracts, spend, supplier performance, sentiment, timelines and contract history to enable you to assess and review performance. Gain visibility on individual contractor management and overall contract process performance. Easily share results and reports with your stakeholders.

Benefits of this feature
  • Gain insights on contract spend, supplier performance, timelines, and contract history
  • Ensure optimal performance with supplier scorecards, KPI and SLA management and supplier satisfaction questionnaires
  • View reports and share with senior stakeholders

Checklists and activities

Stay on top of your requirements and prioritise key tasks to ensure consistent and compliant contract management with our checklists. Each item on the contract checklist is designated based on the contract type selected during creation. The checklist is divided into 'Required Activities' that must be completed prior to contract execution for compliance, and 'Recommended Activities', which represent good practices, although they're not essential or applicable to every contract.

Benefits of this feature
  • Prioritise the most important tasks for your team to maintain contract compliance
  • Maintain consistent and compliant contract management
  • Assign checklists based on contract type, reducing unnecessary manual workload

Contract variation tracking and variation register

Track, monitor, and document any changes to the contract over time. This includes capturing the date, author, type, value adjustments, and revised end dates, to ensure full visibility of contract amendments, both completed and in progress. To avoid any unexpected surprises, you will receive notifications whenever a change occurs.

Benefits of this feature
  • Store, track and manage all contract changes in one location alongside the current contract
  • Gain complete visibility of contract amendments
  • Receive and send notifications regarding changes to contracts

Compliance checks and management

Minimise human error, reduce manual input and involve the right people to ensure essential information is readily available to selected team members. Elevate your organisation's compliance levels easily and streamline your contract management process for enhanced efficiency and peace of mind. Capture insurances and certifications against the contract, quickly demonstrating validity and overall contract health, and get alerts and reminders when these are expiring.

Benefits of this feature
  • Capture key stakeholders involved in managing the contract
  • Manage risk and time by having full visibility of your contract relative insurances
  • Ensure contracts and insurances valid and up to date
  • Generate automatic reports and save on manual data handling 
  • Public Contracts Regulations 2015 Compliance

Classifications

Organise and classify your contracts into contract group types, and enable automation of manual processes. This includes the use of contract templates, master agreements, approval panels, and frameworks, and subsequently, the associated workflows. Classifications include spend threshold rebates, supplier indexation, and supplier performance/KPIs, as well as service credits.

Benefits of this feature
  • Group contracts into classifications with with drop-down menus
  • Automate approval workflows and contract templates
  • Classify threshold rebate, supplier indexation and supplier KPIs to ensure effective management

Gather contracts from across your whole organisation with forms

Contract Management enables you to have far greater visibility across all of your vendor contracts and to keep your contracts in one location from all over your organisation. Support effective communication and collaboration between wider organisation and procurement and legal teams by using easy-to-use built-in guided forms allowing them to submit any contracts they have with suppliers without needing full system access.

Benefits of this feature
  • Easily gather contracts from around the organisation to store centrally
  • Increase engagement between procurement and wider teams
  • Guided, built-in forms support collection without full system access

Let us help you choose

Have a question?

Speak to our Contract Management consultants for personalised advice and recommendations.

CALL US ON:

0330 191 3730

OR WE CAN CALL YOU:

LIVE CHAT WITH US

Ask us your questions and get tailored content to help you.

Contract Management Resources

FAQs

  • How long will it take to implement Advanced Contract Management?

    Advanced Contract Management is designed to mesh effortlessly with your existing systems, ensuring minimal downtime. Our consultants will work with you to establish your unique contract management needs and create the right solution for you. From start to finish, the consultation, design and installation process should take 6-8 weeks.

  • What is the difference between Contract Management and Contract Lifecycle Management?

    Contract management (CM) and Contract Lifecycle Management (CLM) are both classifications of contract management systems, but they differ in scope and focus. Contract management is a broader term that encompasses the overall process of managing contracts, while CLM is a more focused and structured approach that utilises specialised tools and technology to manage the specific stages and aspects of the contract lifecycle systematically and efficiently. CLM is a subset or a specialised implementation of contract management.

     

    Contract management refers to the overall process of creating, negotiating, executing, and administering contracts between parties. It involves overseeing the entire contract process, from creation to termination or renewal. The primary objective of contract management is to ensure that contracts are effectively managed to achieve the intended goals, mitigate risks, and comply with legal and business requirements.

     

    Contract Lifecycle Management (CLM) is a more specific and structured approach to contract management. It focuses on managing the entire lifecycle of a contract in a systematic and organised manner. CLM typically involves using specialised software or platforms that assist in automating and streamlining various stages of the contract lifecycle.

  • What are the benefits of automation in Contract Lifecycle Management?

    Automation in Contract Lifecycle Management can significantly enhance efficiency, accuracy, compliance, and overall effectiveness in managing contracts throughout their lifecycle. Automated digital contract management ensures:

     

    Improved efficiency and speed. Automation accelerates the contract lifecycle by streamlining processes, reducing manual tasks, and eliminating bottlenecks. This results in quicker contract creation, approval, and execution.

     

    Reduced errors and risks. Automation minimises human errors associated with manual data entry, calculations, and compliance checks. This, in turn, reduces the risk of non-compliance and potential legal issues.

     

    Enhanced collaboration and communication. Automated workflows facilitate collaboration among teams and stakeholders by providing a centralised platform for communication, status tracking, and document sharing, ensuring everyone is on the same page.

     

    Centralised repository and document management. Automation allows for a centralised repository of all contracts, making it easy to organise, access, search, and retrieve contract documents, reducing the risk of misplaced or lost contracts.

     

    Compliance adherence. Automated systems can enforce and monitor compliance with internal policies, industry regulations, and legal requirements by ensuring that contracts adhere to predefined standards and guidelines.

     

    Cost savings. Automation helps reduce operational costs associated with manual labour, paper-based processes, printing, storage, and administrative overheads, resulting in significant cost savings over time.

     

    Better risk management. Automation provides better visibility into contract terms, obligations, and key dates, enabling proactive monitoring and management of contractual risks and opportunities.

     

    Streamlined audit trails and reporting. Automated CLM systems maintain detailed audit trails, enabling thorough documentation of all contract-related activities. This facilitates easy reporting for compliance purposes and supports audits.

     

    Scalability and flexibility. Automated CLM systems can scale to handle a high volume of contracts and adapt to changing business needs by easily configuring workflows, templates, and rules without major IT intervention.

     

    Data Analysis and Insights. Automated CLM platforms often integrate with analytics tools, allowing organisations to gain insights from contract data. This can help in identifying trends, optimising contract terms, and making informed strategic decisions.

  • What key issues does Advanced's Contract Management solve?

    Our solutions will help you overcome key challenges and make contract management a value-adding aspect of your supplier lifecycle management.

     

    A lack of contract visibility. No more unwieldy spreadsheets, no more human error, no more lost documents. Using a single system, you can classify contracts, share information with internal and external teams and publish contracts, providing instant visibility to all stakeholders.

     

    Outdated processes lagging behind your capabilities. As your capabilities grow, your processes need to keep up. Manual documentation, outmoded workflows and cumbersome double handling will hold you back. With our scalable software, Advanced will keep pace as your scope, budget, and maturity expand.

     

    No integration between contracts, accounting and finance. Contract Management integrates seamlessly with Financials and other Cloud solutions, as well as on-premise accounting systems from Advanced, Microsoft, Oracle, Sage, SAP, and Unit4. This integration enables a centralised single source for supplier and contract information, with real-time spend data flowing into Advanced Contract Management for live dashboards and analytics.

     

    Outdated processes lagging behind your capabilities. As your capabilities grow, your processes need to keep up. Manual documentation, outmoded workflows and cumbersome double handling will hold you back. With our scalable software, Advanced will keep pace as your scope, budget, and maturity expand. 

  • What capabilities does Advanced's Contract Management offer?

    Help your organisation thrive with quality contract management tools. Experience game-changing key features and far-reaching business benefits with our extraordinarily user-friendly contract management system.

     

    Detailed contract register: Store all key contract information (such as compliance activities, milestones, costs, and forecasting) in one spot!

     

    Unparalleled insights: Unparalleled analytics with insight-drawing capabilities that integrate seamlessly with existing technology.

     

    Superior cost management: Manage approval workflows, contract costing, lifecycle times and project scope with ease.

     

    Automation and templates: Speed up performance management, tasks and contract management plans with templates and automation.

     

    User-friendly interface: Keep track of audit trails, approvals, variations, and contracts conveniently online via a user-friendly interface.

     

    Master panel management: Track and manage all forms of master contracts with advanced master agreement and panel management.

     

    Automation and templates: Speed up performance management, tasks and contract management plans with templates and automation.

     

    User-friendly interface: Keep track of audit trails, approvals, variations, and contracts conveniently online via a user-friendly interface.

     

    Master panel management: Track and manage all forms of master contracts with advanced master agreement and panel management.

     

    Strategic task management: Experience easy, strategic management of general tasks, milestones, obligations, and compliance activities against contracts.

     

    Risk and issue templates: Reduce and manage risk with advanced risk and issue templates specific to each procurement and contract type

Got a question? Need more info? Just ask

Have a question?

Speak to our Contract Management consultants for personalised advice and recommendations.

CALL US ON:

0330 191 3730

OR WE CAN CALL YOU:

LIVE CHAT WITH US

Ask us your questions and get tailored content to help you.

Email us

Receive more information about our software and how it can support your business.