Contracts have been agreed with suppliers, and later on you want to check whether a supplier is still offering the best conditions but it is too late for you to terminate the contract.
It is a challenge to monitor all contracts in terms of administration as well: contracts are spread across different locations and are often difficult to locate. In short, contract management can be a complex task. The Spend Cloud’s contract management software now gives you direct insight and oversight of all your contracts.
The advantages of Contract Management software
Never be too late to renegotiate contracts nearing expiry
the contract manager automatically receives notification when a contract is approaching expiry, which means you are never confronted with unnecessary costs due to undesirable contract extensions.
Direct insight and oversight of all contracts
by using the contract management software, it is no longer difficult to ascertain where a contract is located, as all contracts can now easily be found in the digital archive.
Contract Management software, how does it work?
Digital contracts can be uploaded by the administration straight away, paper contracts can be scanned. If a contract is scanned, the contract management software transfers the primary data via smart text recognition (OCR). All contracts are uniformly registered in this way.
During registration, the administration divides them into groups according to department, role, or location. This makes it very easy to give both existing and new employees access to multiple contracts at the same time.
After a contract has been registered, it automatically goes to the contract manager who verifies the details entered by the administration. If the details are correct, the contract automatically goes into the digital archive. Employees that have access to the contract can search it in the digital archive by title, end date, or, more specifically, by creditor or contract manager.
The contract management software automatically provides a summary of contracts that are nearing expiry. The software sends a notification to the contract manager at the predetermined time, so that it is never too late to amend a contract prior to the deadline. Any action taken is then documented.
Contract Management in the Spend Cloud
The Spend Cloud is a complete solution containing five different functionalities to control all business expenses. You decide which functionalities suit your organisation, at what time.
The Procurement module streamlines the procurement process and offers control over employees’ ordering habits. Combining the Procurement module with the Invoicing and Contract Management modules gives you control over the whole Purchase-to-Pay process within a single Spend Cloud.Read more about Procurement
The Spend Cloud’s digital invoicing gives your organisation insight, oversight and control over this time-consuming process. Combining the Invoicing module with the Procurement and Contract Management modules gives you control over the whole Purchase-to-Pay process within a single Spend Cloud.Read more about Invoice Processing
The Contract Management module is part of the Spend Cloud. This module makes management of contracts simple and transparent and prevents undesirable contract extensions. Combining it with the Procurement and Invoicing modules ensures the whole Purchase-to-Pay process can be managed within a single Spend Cloud.Read more about Contract Management
Cash & Card
With the Cash & Card module, employees receive payment cards for their business expenses. These cards can be fully controlled by the organisation itself. This offers convenience for employees, and control and oversight for the organisation. Combining the Cash & Card module with other modules enables management of all expenditure streams within a single Spend Cloud.Read more about Cash & Card
The Expense Claim module makes claiming expenses a clear and streamlined process. Combining the Expanse Claim module with other modules in a single Spend Cloud enables central management of all expenditure streams.Read more about Expense Claims