Being able to apply a coherent procurement strategy relies on understanding all the relationships across the business.
Without an accurate central record of contracts and vendors there’s always the prospect of unknown levels of business risk and maverick spend.
To accurately assess each prospective vendor requires full and relevant disclosure of information.
If this process of data submission isn’t tightly controlled then valuable time can be spent chasing for updates to accurately build vendor profiles.
As much as 40% of negotiated and agreed benefits are never realised over the life of a contract.
Tracking deliverables and holding stakeholders to account can be a challenge and sometimes only discovered at the point of renewal, if at all.
Create digital forms to capture all relevant information required for effective procurement.
Mandate fields and formats as well as allowing for document upload.
Deal only with complete and compliant data to enable faster and more robust decision-making.
Use our industry-unique Kanban Workflow Engine to manage your procurement processes consistently and reliably 24/7.
Design and build your processes incorporating submissions, security checks, sign-offs & renewals.
Check in at any time on progress and control tightly via SLAs.
Use AI to extract key dates and other metadata in order to track renewals.
Link with workflows to trigger timely alerts to relevant stakeholders.
Prepare early and negotiate renewals from a position of power to ensure value for money.
Use your favoured redline solution, MS Word®, and check your documents in and out of Gatekeeper before progressing to e-signature.
The final, flawless document, along with all previous versions, is recorded against the contract record.
Measure, collect and analyse vendor performance using our Balanced Scorecards module.
Gather stakeholder feedback and plot results on a tailored grid to understand your vendor portfolio’s strengths and weaknesses.
At every step, from initiation to renewal, actions are captured along with dates, time and personnel to provide a cast-iron audit trail.
Clear timelines mean there's no need to look back through email trails or shared folders.