CONTRACT MANAGEMENT TOOLS
Accessible supplier contracts
When you control your supplier agreements, you control your costs. Plan, negotiate, and create contracts in order to spend strategically and reduce procurement expenses. Supplier relationships don’t have to be complicated – establish contracts as a method of simplification. Auto-generate your contracts from awarded bids and seamlessly manage each contract. Monitor contract statuses and supplier performance with ease using cuSPEND’s user-friendly graphs and charts on each contract.
Contract lifecycle management
Give your team access to create requisitions and purchase orders from the contract with autofilled terms and pricing that have already been negotiated . Track all activities on each contract and view the status of every order that was placed. Set an expiration date and the system will automatically remind you when it’s about to end, with a one click option to request renewal.
STORE AND MANAGE DIFFERENT TYPES OF CONTRACTS WITH A FLEXIBLE REPOSITORY SYSTEM
Create
Create and store different types of contracts based on the purchasing arrangement made between your company and suppliers. Specify details like contract end-dates, delivery addresses, and attach external files to document additional terms for agreements such as service contracts.
Track
Keep track of expiry dates, remaining item quantities, and monetary amounts on each active contract arrangement. Search and filter contract arrangements by date range, company, supplier, and category to track the progress of ongoing agreements with suppliers.
Order
Staff can order directly from established contracts, providing an excellent tool for minimizing off-contract spending. Item specifications, pricing, and other details on a contract are carried over to created purchase orders, ensuring that contract terms are upheld on each order.
Renew/Terminate
Review expired contracts in an organized repository, and renew them with a single click, including automated renewal alerts sent to you and the supplier. Terminate underperforming contract arrangements after reviewing details about that contract’s history, including purchase orders placed and deliveries received.