Gain efficiency in your contract management
- Contract storage
- Single, accessible contract library
- Expiry date management
Manage supplier risk effectively
- Contract management
- Supplier commitment monitoring
Secure high-quality service from your suppliers
- Intervention planning
- Monitoring intervention records
- Intervention reports
Why choose software for
Managing and monitoring contracts on paper is a time-consuming and risky activity for a company. It results in inefficiency, costly management of contractual documents, non-standard signature processes and contracts incorrectly renewed every year. Monitoring the different suppliers, partners and service providers associated with your contracts requires regular attention throughout the contract’s life cycle (Contract Management), regardless of the contract type (maintenance, lease, telephone service, rental, service provider etc.).
Standard office software quickly reaches its limits for contract management, because monitoring expiry dates, alerts and especially commitments is a difficult operation. We shouldn’t forget that contracts are living documents. They evolve throughout their life cycle, and need to be managed from the date when they take effect to their expiry date, monitoring all the contractual commitments, obligations and objectives. Contract management should not remain the poor relation of digital technology. The question no longer arises for customer monitoring. Who would dare question the benefits of CRM! Supplier contracts also deserve to be managed with a dedicated solution rather than just a spreadsheet. This contract management solution addresses all your organization’s activities, from legal specialists and procurement managers to contract managers and the finance director. So choose contract digitalization using an easy-to-use solution that is functionally rich and quick to deploy. Test the free version of the contract management solution now.
How supplier contract management software will help you in your daily work
Thanks to this contract management application, you can simplify, optimize and secure the contract life cycle:
- Initiate a new contract using a form
- Have the contract approved by the legal department or any other company staff via an approval circuit
- Receive alerts about expiry (automatic renewal etc.)
- Monitor and receive alerts about contractual commitments
- Monitor and automate all the interventions associated with the contract
- Manage contractual information
- Monitor contract invoices
- Duplicate a contract to make entry easier
- Create and manage amendments
- Terminate the contract
- Apply a procurement management policy
From initialization to signature, all the stages of the contract management process are tracked.
Why use a digitalized contract library?
Using a contract library, you can create, monitor and supervise all your contracts (partners, suppliers, legal affairs etc.). Various dashboards give you an overview of your current contracts (company by company in the group, or department by department) and provide a schedule for invoicing and contract expiry dates. With our contract management solution, you will never miss a renewal date. You can define different contractual milestones for your contracts, i.e. your suppliers’ commitments. As soon as the deadline for the milestone arrives, you can validate it, extend it or reject it. You have a dashboard for each contract, with all the contractual engagements and their deadlines and statuses. Reviewing contracts becomes much simpler. You can draw on factual elements during your negotiations with suppliers enabling you to measure any divergence between the contractual commitment and the service provided. Contracts are living documents that need to be monitored and managed, so make it easy.
100% customizable contract management software
Workey Contract Management is a 100% customizable contract management solution. The solution was customized based on the Workey BPM (Business Process Management) software. The contract approval process is 100% customizable using a graphical tool for procedure modeling. No development is required (low-code approach). The form for entering contract information is also fully customizable, as are the dashboards. You can therefore have an application that meets all of your requirements, without any development.
An up-to-date contract library for all your legal contracts
All your contracts are available with one click (suppliers, subcontractors, maintenance contracts, phone contracts…). You can monitor contractual commitments and objectives based on the milestones in the contract. Each contract is digitalized using a form where you can enter the contract’s characteristics, such as the supplier, contract category, legal clauses, signature date, effective date, contract type (fixed-term, automatic renewal etc.), contract term, deadline amounts, contractual commitments etc.
Drop-down lists make data entry easy and ensure standardization. Each contract follows a cycle of drafting, approval and publication in the contract library. No more email exchanges! The solution offers an approval workflow for monitoring the contract’s progress easily.
Manage and monitor interventions associated with your maintenance contracts
The application helps you in the everyday management of interventions by service providers relating to specific maintenance contracts. These might include contracts for equipment maintenance, security etc.
Once the contract is created using a form, you can define the preventive interventions associated with the contract in terms of actions, frequency etc.
Based on this frequency, you receive alerts when an intervention is scheduled so that you can certify that the work has been done and check its compliance with your maintenance contract and your service provider’s commitments.
You can also define corrective interventions associated with your maintenance contract.
Various dashboards give you an overview of your contracts and the interventions carried out.
Thanks to this application, you can manage the whole life cycle of your service contracts (creation, activation, intervention approval etc.) and improve the management of general services.
- Improving service monitoring and compliance
- Reducing costs
- Lateness alerts
- Certification of the service provided
A 360° view of your contracts
The solution offers a variety of dashboards for monitoring all your supplier contracts. No more relying on a spreadsheet for consolidation! You can break down your contracts by supplier, category, status etc. with a single click. Every contractual commitment and objective is recorded in the contract library, giving you alerts for each milestone. A milestone monitoring dashboard makes it easy to identify contracts and suppliers that are diverging from the contractual objectives. This helps you anticipate and reduce your supplier risks as soon as the first alerts are received. The contract management solution can be combined with our procurement management software, also available from the Workey.store solutions catalog.
Supervise the whole life cycle of your contracts simply and efficiently and reduce operational risk.
What are the benefits of contract management
Once the contract is in place, it needs to be monitored to ensure the conditions it contains are being respected and applied. This is the role of contract management. Contract management will give you a better view of your contract expiry dates, commitments and suppliers. You receive alerts about contracts expiring and contractual commitments. You will never be late again when negotiating a contract. Each contractual commitment is monitored and tracked, enabling you to forge stronger links with your suppliers. Every year you can review your contract with each supplier and certify whether each commitment has been respected on time in accordance with the contract objectives.
Simply and efficiently, you improve your relationships with your suppliers, who become your partners.
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