ContractFX™ Modularized Contract Management System
- Enterprise-class contract management software
- Web-based contract management software
- Configurable to meet specific business needs
- User-friendly (does not require IT intervention)
- Robust (full contract lifecycle management)
- Flexible configuration
- Easily set-up and managed
- Advanced contract software features
- Built upon the latest technologies
ContractFX™ provides the following key benefits:
- Multi-level Security to protect contract records and documents
- Track Contract and related Tasks & Milestones
Standardized Processes and Procedures
This helps to decrease maverick buying and decrease supply risk while
increasing spend leverage. The net effect is that buys as a whole become
less costly and more valuable and a much greater percentage of negotiated
savings are captured by the business.
Probably the most valuable benefit of a contract management system –
which lets you know if you are buying from the suppliers you’re supposed
to be buying from at the right times, quantities and prices – it can also
help an organization standardize on consistent contract terms and
conditions. Furthermore, it also allows for easy identification of
contracts with suppliers in high risk zones due to natural disasters,
political unrest, or economic uncertainty, which is critical to the
development of appropriate organizational risk management strategies.
- Contract Alert Notifications
Solid Foundation for Spend and Performance Analysis
With all of the contract conditions and negotiated prices and fees in a
central location, it’s a lot easier to compare actual purchases against
contracted buys. This allows policy or regulation violations to be caught
and dealt with immediately and insures that all spend is known and
available to be appropriately leveraged in sourcing projects.
Contract Management systems make it easy to track rebates and insure that
all of the savings negotiated in a sourcing cycle are captured.
Reduced Maverick Spending
With a contract management system, a buyer can immediately determine if a
contract exists, who the contracted suppliers are, and what the contracted
Evergreen Contract Elimination
Without a contract management system to automatically alert a buyer of
contracts coming up for automatic renewal, many auto-renewing contracts
are likely to go unnoticed and automatically renew, locking the buyer in
for another buying cycle. With a system in place, the buyer can be alerted
weeks or months in advance, depending on how long a sourcing cycle
normally takes for that commodity or service, and take appropriate action.
- Contract Template Based Creation/Drafting with merging fields and clauses for enterprise customers
- Clause Library
- Track contract attachments with version tracking
- Custom & Ad-Hoc Searching/Reporting
- Flexible Workflow based on configurable rules
- Contract Value and Budget Tracking
- Contract Spend Tracking
- Track Key Contract Dates
- Advanced Calendar Notifications
- E-Mail Contract & Task Alerts
- Post Comments
- Post Q&A
- Legal Hold Management
- PDF OCR and document text searching
- Contract Version Tracking
Reduced Contract Cycle Times
ContractFX™ assists in eliminating common bottlenecks spanning the
contract creation, negotiation, approval, and renewal/termination processes.
The direct result from eliminating these potential bottlenecks is faster
contract execution within your organization. Quickly create contracts within
our systems' template manager that is fully integrated with MSWord with
Enhance Employee Productivity
Now more than ever, organizations and their employees are expected to do more
with less. These stresses on productivity often lead to unwanted or
unintentional shortcuts and omissions. ContractFX™ doesn't just automate
common contract management workflow processes, but it has the ability to
streamline processes by eliminating steps altogether.
Real-Time Risk Visibility
Many organizations have contracts scattered across varied business entities or
in departmental systems, often locked in filing cabinets or hidden on individual
employee hard drives. With such time-sensitive data and critical information
scattered and decentralized, the risks and potential business losses increase
ContractFX™ provides General Counsel, Sales Departments, Procurement,
Compliance, IT and any other departmental entities or groups with instant access
to every contract, committal or agreement needed through a central, unified
Sustain Profitable Agreements
ContractFX™ offers real-time visibility on any and all existing committals
and agreements. This real-time visibility provides a competitive advantage in
negotiating new agreement terms and in consolidating committals and agreements
with the best terms. ContractFX™ is a full featured contract
creation/authoring utility to accurately and consistently create contract language
and merge in contract details. By streamlining the contract authoring and
negotiation processes, you and your organization can devote a greater quantity of
time to focusing on unique and high-value aspects of your contracts.
Timely Contractual Obligations and Key Milestones. Traditional filing approaches
taken by organizations all too regularly leave key contracts and information
"forgotten" in massive stacks, cabinets or spreadsheets with important obligations
missed. Our contract management software solutions extend beyond solely providing
trigger-based alerts. With our sophisticated, yet simple to use workflow capabilities,
your organization can ensure that its employees actually follow through on important
items and reach critical contract milestones. ContractFX™ offers escalations,
sequenced processes as well as tandem processes to ensure each of your obligations
and milestones are met in the manner deemed necessary.
NO NEED TO WAIT FOR ROI.
Eliminate cost overruns. Easily monitor contract activity and performance.
Increase Staff Productivity
Spend less time locating, researching, tracking, and managing contracts.
Up and running in as little as 24hrs. What more can we say?…saving and efficiency starts immediately!