Contract Management

  • Centralize the company contracts in a single repository
  • Manage a contract’s life cycle in a collaborative manner
  • Anticipate key milestones of a contract

Many companies encounter a number of problems in managing supplier contracts. As they are sometimes all over the place in the company, in formats or detail levels that are very inconsistent, signed contracts are often un-usable by Procurement. Contracts are sometimes obsolete and therefore rarely save what was predicted.

The Ivalua Buyer Contract Management solution was conceived to remedy these problems. It provides a clear and structured framework that brings together all the contracts in a single place. It offers functionalities for the management of the life cycle of a contract, from the creation and collaborative authoring to the creation of amendments.

Because contracts are a keystone in spend management, they touch other Ivalua Buyer modules such as the supplier database, product catalogs, or the e-sourcing process.

In addition, users can configure their own alert systems based on key milestones of the contract.

Finally, contract reporting gives the management a full visibility on existing contracts as well as real time analysis by purchasing category, buyer, supplier, organizational entity, etc.

Collaborative writing of contracts

  • Management of contracting parties and related authorizations
  • Quick access to the major negotiated conditions
  • Maintain a library of sample contracts and clauses
  • Generate contracts in Word/PDF based on pre-existing templates
  • Create different contract validation systems based on the type, activity segment and resource allocation of the contract
  • Generate requisitions and invoice schedules directly from content

Distribution and consultation of the repository

  • Multi-criteria search engine
  • Contract description file
  • Management of the scope of the contract (category, organization)
  • List all of the negotiated articles as part of the contract
  • Configuration of  contract access level permissions by user profile
  • Confidentiality of data and/or attached documents with the Ivalua Buyer authorization system
  • Direct link with the supplier repository

Monitoring and management of contracts

  • Management of amendments and history of contract renewal
  • Management of contracts renewal by tacit agreement and possibility of automatic renewal
  • Setting of alerts tied to key dates of the contract
  • Overall planning of contracts currently executed