With our significant experience in performing a variety of audits for large corporations, we have identified a common problem that companies are facing - this problem surrounds contract management and maintenance. Using our expertise and listening to our clients, we have developed an innovative solution to aid in contractual control and bring efficiencies into procurement and Accounts Payable teams. Our on-line contracts database is a single directory that can house all copies of supplier contracts, as well as top level detail of the specific contracts such as contract dates, account managers and which department the contract relates to. This allows all contracts to be readily available for review at the touch of a button. The system also links to your Accounts Payable transactional data, meaning you can quickly see spend levels for each supplier. Specific contractual agreements can also be loaded into the system such as % growth incentives, % marketing funds and lumps sums. As the system is linked to your AP, the system can perform these calculations for you, reducing the risk of error and reliance on contacting suppliers for spend levels. Email notifications also take place when one of these contractual agreement amounts is due for billing and also when a contract is expiring and re-negotiations should be happening.
The system is fully tailorable to your business requirements and can be built to your unique specification making it an invaluable tool for all your procurement and contractual needs.
- One location - easy access to contractual agreements
- Email notification of any upcoming contract expiry dates
- Efficiency improvements due to ease of access to information
- Reduced burden on AP and Procurement teams
- Increased accuracy in contractual billing.