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Contract management

More than half of respondents say one of the top five benefits of SRM technology is it supports policy, regulatory and compliance requirements.

State of Flux 2014 Global SRM Research Report
See how Statess improves your contract management

How does Statess help you manage your supplier contracts?

Many organisations suffer from the inability to locate key contracts and ensure key terms are being applied to suppliers in a ‘closed-loop’ manner. It is important to be able to link key contract metadata including durations, values and entities to documents, activities and events.

Statess enables you to capture, search, browse and report on supplier contracts. You can also set contract milestones and actions. Contract milestone tracking ensures negotiated contract terms are leveraged throughout the contract lifecycle and actions are followed up by accountable stakeholders. Automated alerts ensure appropriate resources are involved and sufficient reviews occur prior to key contract dates. Mass data upload and integration capabilities can be engaged to improve efficiency within the contract management process.
 
The contract management features of Statess enable you to:

  • Capture contract information and related documentation in one place
  • Run customised searches and reports that can be automatically refreshed based on specific parameters
  • Notify users via email about key dates and milestones of contracts
  • Bulk upload contract information and documents to reduce manual effort
  • Link related contracts (e.g. a framework agreement with the associated work orders, or the contracts that lie within a project, group or category)
  • Capture, search and report on the customer and supplier contracting entity
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