Record all the key data about your contracts. Elements include contract description, type, manager, vendor, amount, start and end dates, and notification date for renewal.
Ensure contract approval before conclusion and signature: You can set up Spend Management to forward contracts after registration directly to the right person for approval. This avoids signing contracts that are not ready or not intended for signature.
When you register a contract, you enter a signaling date. On this date, the contract manager receives an email notice and a task in the worklist to decide whether to extend, renegotiate, or terminate the contract. Spend Management can even generate letters to extend or terminate contracts.
In addition to reminders of contracts that are ending, you can enter notices of contracts due for a systematic review. Spend Management will send a request to a contract or budget owner to review the contract before deciding whether to extend, renegotiate, or terminate it.
You can integrate framework agreements for procurement options to place orders in Spend Management. This helps you to control which suppliers your team members use. You can also avoid unfavorable purchase conditions and purchases outside established contracts.
Your administrators no longer need to code recurring invoices manually. Instead, Spend Management inserts the coding and payment conditions from the contract. The application will also match a recurring invoice to the periodic amount and the contractual agreement so it no longer requires manual approval. In addition, you can easily see how many invoices have been booked on that particular contract.
Your contract owners receive on-time notice that contracts are due for review and possible renewal.
The application can even produce letters to renew or terminate contracts.
You can link a purchase order to a contract and define the conditions to apply when creating a purchase order.
Spend Management applies the conditions to the order. Buyers purchase from preferred suppliers. Spending on the contract is always clearly visible.
Spend Management matches an invoice with the corresponding contract and contract term.
With an approved contract, an invoice that matches the contract terms does not require manual review and approval.
Get full control of company expenses with the complete procure-to-pay application for finance and purchasing departments.
Use all modules or only the ones you need.
Save time and increase accuracy with automation of tasks. Automatically match invoices with deliveries, purchase orders, and contracts.
Automate and control your business functions like contract registration, approval, renewal, and more. Gain a central overview of all your business commitments.
Get instant insight and tight control of the budget. Track available funds and make informed decisions on every order, contract and invoice reviewed for approval.
Simplify claims approval and management. Approved expense claim reports are automatically exported to the financial system for reimbursement to the employee.