CONTRACT MANAGEMENT

Contract Management Software

Our Contract Management software is a Cloud-based solution that enables you to electronically manage contracts. It supports you from the initial creation, collaboration and workflow control for the signing of the documents, through to the ongoing management and performance monitoring of suppliers and associated spend savings, for the lifecycle of the contract. 

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Understanding key issues

CHALLENGES

Inefficient processes

Managing the creation and approval of contracts via email, PDFs or Excel is a laborious task. Over time, there are increased chances of errors – and even loss – too.

Reactive not proactive

Offline management of contracts, and monitoring performance against them is time consuming and so only happens periodically or at the end of the contracts. This means that realising the optimum ROI for a supplier contract is often missed.

Poor traceability

If organisations are unable to understand where they are sourcing items from, it’s far harder to meet sector-specific initiatives, such as increasing the use of local suppliers.

Poor communication levels with suppliers

Maintaining relationships and ensuring you are receiving the best prices with large pools of suppliers is increasingly difficult.

How our Contract Management software can help you

FEATURES & BENEFITS

  • Easy to use 

    Our solution is simple and intuitive, helping procurement teams reduce the time spent on creating and managing all types of contracts. That’s more time to get ahead with sourcing processes.

    All common types of contract supported

    Such as MSAs, service/work orders, variations, extensions, CCNs, frameworks and call-offs – with scope for customisation.

    Clear and customisable contract groups

    Group common types of contracts into manageable lists for ease of access​.

    Document preview

    Read Word and PDF documents without having to download them.

    Task and communication tracking

    Completed supplier tasks, and email communications, are recorded -ensuring procurement teams have all the information required for internal and external audits.

    Convenient document tagging system

    Group files together easily and locate them quickly, saving enormous amount of time in driving process efficiency.

    Powerful search engine

    Our Contract Management solution enables keyword searches within the text of documents as well as in titles and file names.

  • Automation of tasks 

    We make contract management process simple and fluid. With our task automation, we ensure that time consuming manual processes are reduced, meaning procurement teams can spend more time on managing supplier relationships and focusing on strategy.

    Timely notifications

    Automatically generate alerts for common tasks such as reviewing or renewing contracts, gaining greater visibility over the contract portfolio.

    Supplier records

    Suppliers registering issues or questions automatically generates an audited case record linked to the supplier account​.

    Contract spending alerts

    Automate monitoring and highlighting of contracts where spend has exceeded budgets or spend thresholds.

    Automated supplier requests

    Ensure associated documents and supplier accreditations remain up-to-date during the lifecycle of the contract.

    Automatic reports

    Automate important tasks such as distributing management reports and starting contract renewals – and on time.

  • Application customisation 

    Procurement teams have unique sourcing cycles, which need to drive efficiencies to help meet their organisation’s goals. We can help by building a system that meets every requirement.

    System control

    Administrators can set customised validation rules and generate email workflows for approvals.

    Access security

    Set permissions for each contract at user-level, enabling the management and restriction of access ​to data.

    Contract flexibility

    Create custom contract types, including additional custom fields. All contracts can then be managed in one system, no matter how unique.

    User empowerment

    Users can add individual tasks with email and pop-up reminders, and create their own diary events, which are summarised in a simple daily to-do list.

  • Integrations

    We ensure our solutions are integrated so procurement teams have all the information needed to make informed decisions – before it is too late.

    Supplier, tender & spend analytics capability

    Our Contract Management solution seamlessly integrates with supplier, e-tendering and spend data through our other Spend Management modules.

    Contract register

    Access supplier performance data, auto-create renewal procurement exercises or view invoice details on contract payments all from a personalised contract register.

    Email sync capability

     Sync tasks and events with Outlook and Gmail, ensuring users have as much visibility and flexibility as possible.

  • KPI Monitoring & reporting

    We help organisations better understand  their sourcing habits and their suppliers. Monitor and report on supplier performance, ensuring procurement teams can be proactive if any service levels drop.

    Saving and compliance monitoring

    Tools to track savings, benefits and procedural compliance ​over the duration of the contract. This ensures organisations get the most out supplier contracts while complying with the terms and conditions.

    Savings tracking

    Record multiple savings entries against each contract over time, giving the ability to understand how savings have changed throughout the contract duration.

    Supplier tracking

    With KPI scorecards, procurement teams can record and monitor supplier service levels so they can understand if suppliers are performing to the agreed contract levels.

    Ethical understanding

    Report on benefits showing Corporate Social Responsibility (CSR), or other social, economic, environmental factors. Our system calculates the financial equivalent of these benefits​, giving organisations a numerical understanding of ethical initiatives.

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Dedicated Support Team

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24hr Customer Portal

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Regular Product Updates

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97% Project Delivery Score

"The collaborative, dynamic and flexible approach from our Advanced contacts has ensured that the deployment and ongoing development continues to impress and inspire our procurement team."

Sonia Soni, Procurement Buyer

"Advanced has proven to be a highly responsive partner – the close collaboration with the university is driving innovation that benefits the whole of the higher education sector."

Kerry Syks, Deputy Director of Finance

“We can now procure goods and services more efficiently than ever before and have much greater control over procurement, while being smarter about what we procure and from whom. This has allowed us to more tightly manage costs."

Richard Parker, Head of Financial Accounts

  • Oxford Brookes University
  • University of Cambridge
  • George Eliot Hospital NHS Trust

Explore our range of additional Spend Management solutions

Marketplace Software

CLOUD MARKETPLACE

Providing a business to business platform that enables buyers and suppliers to trade accurately and efficiently.

Learn More

Tender Management

TENDER MANAGEMENT

Providing procurement teams with clear visibility and high quality reporting of their sourcing process.

Learn more

Spend Analytics Software

SPEND ANALYTICS

Gain visibility of spending habits and patterns across their organisation, and in turn optimises future spend.

Learn More

Additional insights to help you transform

RESOURCES

  • Contract Management Factsheet

    An in-depth overview of our Contract Management solution

    Read factsheet
    an image associated with Contract Management Factsheet Factsheet

  • Spend Management Solution Set Overview

    An overview of our complete Spend Management offering, from our Cloud Marketplace to Spend Analytics

    Brochure Read brochure

News & Opinions

BLOG // 02-08-2019

How to achieve the balancing act of spend management

by Jon Wrennall, Chief Technology Officer, Advanced

How to achieve the balancing act of spend management

Advanced's Picks

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