Jeremy Ferrer
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Optimize your C-Class purchases and boost your results.
January
It is thanks to better management of supplier contracts that the contract lifecycle management module (CLM) by Sourcing Force allows procurement departments to reduce the time needed to negotiate contracts and to achieve significant cost savings.
Our solution, Sourcing Force, automates the creation of contracts, simplifies the flow of approvals and authorizations and centralize the content of the contracts. But she also takes care of vetting upcoming renewals, ofestablish reports and to analyze contract data. To conclude, it allows you toupgrade the overall contractual compliance of your business.
Buy Made Easy provides the tracking and management system needed to optimize relationships between buyers and suppliers throughout the contract lifecycle. Through its Sourcing Force solution, key contacts across the organization can generate new contracts, access existing contract information and control the execution of contracts.
Through the use of templates and pre-approved clauses, users can quickly create new contracts or easily modify existing contracts.
After the contract is created, Sourcing Force simplifies the change and approval process, reducing the time and resources spent on contract management.
With a centralized repository, users can access all contracts, search based on various parameters, customize notifications, and manage administrative functions.
Proactive renewal management allows for timely contract renewals through the notification of expiring contracts. Contract start and end dates are automatically highlighted and monitored. Deadline alerts ensure that sufficient time is allowed for renegotiation.
Expenditure control promotes contractual compliance through pre-determined threshold levels. This then allows users to keep track of expenses and invoices. Notifications inform users when thresholds are reached. The comprehensive creation of ad hoc reports allows users to view the status of contracts and clauses.
The custom query templates created by the Purchasing Department guarantee all the required information. They are also provided in the initial request. This therefore makes it possible to minimize the back and forth of communications and to speed up the sourcing process.
Users can easily see requests by status, category, or receipt/send notifications. This provides visibility to all departments involved.
By keeping requests and contract details in a single system, the organization can improve its performance. At first, by displaying the entire process, from start to finish. Secondly, with the messaging of requests. All contracts are linked to the initial request for full traceability for audits.
Discover our article on How to manage your contracts well?
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