Supplier Contract Management
Concluding new contracts or renegotiating of the old ones is part of a modern organization's daily activity. Either we talk about the internal contracts, with the company's employees or collaborators, or the external contracts, with the suppliers of electricity, gas, water, equipment, banks or business partners, the Supplier Contract Management is a time and specialized legal or financial resource consuming process. The process of selection and approval of contractors, but also the supervising of those contracts' execution according to the clauses needs o powerful, robust information solution to simplify and optimize these processes.
Supplier Contract Management module within Charisma Cost Control solution is the solution you need for tracking the entire lifecycle of a purchasing contract, from its preparation to its signing and termination. Supplier Contract Management module is a requisite component for supporting the strategies of the companies running large purchasing projects, becoming a requisite both by its features, and by its capabilities of integration with any other ERP, project management, human resources, etc. business software solutions.
Some of the customers who use Supplier Contract Management
Financial and operational benefits
Reduces the costs allocated for managing the contracts
Supplier Contract Management module eliminates the almost medieval practices and provides a modern method of contract management by centralizing data, eliminating the redundancy of manual work, automating and eliminating some steps (for example, the contracts with a value lower than a given threshold do not pass through the legal department). The exceptional configurability of the solution allows defining approval flows according to the specific of each single company.
Increases the conformity and eliminates the financial risks
The products includes a tool for storing the "lessons learned" over time, helping the company to define and comply with a series of company politics and rules – for example, no contract with penalties bigger than a certain value is signed.
Reduces the operational risks
Supplier Contract Management module ensures an efficient control for running the contracted projects, including alerts for the required tasks, as well as notifications for the risks associated with each task. Thus, any failure to comply with the company policies is notified immediately to the decision persons, who can proactively intercede in the process, cutting the operational risks of the company.
Improves the financial management
Supplier Contract Management module provides a total transparency of a company's contracts on their entire effective period, being really helpful in the strategic decisions of the company.
Tracking the contracts and the related information.
Managing the commercial and financial issues related to the contracts, such as: suppliers' invoices, the agreed payment schedule, advance payments, securities, bank trust letters, outstanding amounts or debts situation by period, penalties.
Controlling the investment analysis and planning process: financing scenarios, budgeting / business plan, cash flow or balance sheet.
Management of delinquencies and events occurring during the contract (ticket management).
Management of approval the supplier invoice payment (ePayment Approval) by configuring and tracking "to be paid" approval flows, by defining the roles involved in the approval process and payment terms.
Matching the invoices with the payments made and budget cells.
Document management - supporting the work with documents and physical files assigned to workflows or to the execution of a contract with the supplier.
A high performance search engine for quick finding the data related to suppliers, contracts, current stages in contract execution.
- The history of contractual relationships with various suppliers, helping the company in the decisional process.