Where did I put that agreement?
There's software that provides purchasers with a repository for contracts; it's the focus of this year's guide.
By Susan Avery -- Purchasing, 7/15/2004 6:00:00 AM
World-class purchasing operations maintain supplier agreements in a centralized repository for ready access by strategic sourcing, legal, accounts payable and other functions. Access to such a repository helps to improve internal efficiency and ultimately helps to reduce cost. Contract management software has such functionality. Here is a sampling of software companies that provide applications for contract management:
Ariba. Ariba Contracts Solution “unlocks the value” of a company’s contract portfolio by seam-lessly embedding contract language, terms and management processes into the front lines of every day spend management activities. Ariba says its solution is designed to provide contract managers and procurement professionals with “breakthrough efficiencies” in managing the contract creation and repository phases of the contract management lifecycle. Tel: (650) 390-1000; URL: www.ariba.com.
Contract Management Solutions. CMSI provides global companies with enterprise scaleable technology solutions and the industry's best practices, delivering compliance, optimization and control over the contract and supplier/customer relationship lifecycles. Tel: (407) 478-0250; Fax: (407) 478-0251; URL: www.cmsi.com.
Covigna. Covigna Contract Administrator serves as a foundation for the automation of contract management business processes. Covigna Contract Administrator supports any contractual agreement and includes a comprehensive set of features to support key business processes related to contract creation, controls, administration and management across a diverse set of roles and users. Tel: (650) 641-7950; Fax: (650) 641-7951; URL: www.covigna.com.
diCarta. diCarta Contracts provides companies with visibility and control across the entire contract lifecycle, from contract creation and negotiation, to obligations management and compliance enforcement, through ongoing analysis and contract renewal. With diCarta Contracts, companies create contracts, ensure that companies meet contractual obligations, and manage performance against contract terms. Tel: (650) 474-3800; Fax: (650) 474-3888. URL: www.dicarta.com.
DETERMINE. Determine delivers enterprise software for managing contractual relationships. Moving beyond first-generation contract management tools, DETERMINE provides an extensible solution for aggregating contract information, accelerating lifecycle processes, enforcing contract compliance and managing supplier relationships. By transforming contract data into strategic business intelligence, DETERMINE “dramatically improves supplier relationship performance, while effectively managing enterprise spend.” Tel: 415-633-2400; Fax: (415) 633-2401; URL: www.determine.com.
Elance. With the Elance SPM application suite, large organizations can gain visibility into services spend and performance, establish and control enterprise processes, and 'achieve 10%-20% hard cost savings across a broad range of external service categories.' The application is an integrated suite of modules designed specifically for the purpose of services procurement— from sourcing, contract management, and engagement management to supplier performance management and analytics. Tel: (408) 524-7500; Fax: (408) 524-4814; URL: www.elance.com.
Fogbreak. Fogbreak Software is an enterprise contract management solution for outsourced manufacturing. It is specifically designed to address the financial and operational requirements needed to execute outsourcing business strategies. Tel: 925-244-6780; Fax: (925) 244-6781; URL: www.fogbreak.com.
Frictionless Commerce. The Contracts module in Frictionless SRM 2004 provides a single contract repository, performance management and dynamic document generation using a contract and clause template library. Through a series of system-wide reports, users can analyze spend transactions against the contract at both the summary and item level to monitor compliance. In addition, Contracts provides full milestone and workflow tracking in order to implement any governance approach desired. Tel: (617) 495-0180; Fax: (617) 495-0188; URL: www.frictionless.com.
Global eProcure. Global eProcure's Web-based contract management solution allows users to automate and streamline the contract generation process, manage contractual commitments, search and create reports from a centralized repository and monitor, document and improve contract compliance. Tel: (732) 382-6565; Fax: (732) 382-6363; URL: www.globaleprocure.com.
Ketera Technologies. Ketera Contract Management enables purchasing professionals to enforce contract compliance. Ketera Contract Management delivers comprehensive contract management lifecycle support including authoring, approvals and compliance monitoring. Ketera says it does all the 'heavy lifting' of scanning existing contracts into a repository for visibility into all active contracts. Ketera Contract Management is delivered as an on- demand service—no software installation is necessary. Tel: (408) 572-9512; Fax: (408) 748-9674; URL: www.ketera.com.
Nextance. The company states that it provides 'a sophisticated approach' to contract management, enabling Global 2000 companies and public utilities to better manage their contracts, commitments and related business processes. Customers across various industries, including financial services, life sciences, technology, utilities and consumer packaged goods, have deployed Nextance applications to help reduce costs and enhance business performance. Tel: (650) 716-2400; Fax: (650) 716-2399; URL: www.nextance.com.
Oracle. Oracle Procurement Contracts enables companies to reduce risks and costs throughout the entire procurement lifecycle. Oracle Procurement Contracts includes a terms and conditions library, deliverables for tracking and formal change management-enabling companies to minimize exposure to contractual risks, maximize buying power and eliminate erroneous payments. Tel: (800) ORACLE1; URL: www.oracle.com.
PeopleSoft. PeopleSoft contract management capabilities provide a contract execution management solution that is tightly coupled to PeopleSoft Strategic Sourcing for automated contract creation, PeopleSoft SupplyChain Analytics for contract analysis and PeopleSoft procurement applications to ensure realtime contract selection and management. With PeopleSoft, customers can control the entire contract lifecycle. Tel: (800) 380-7638; Fax: (925) 694-4444. URL: www.peoplesoft.com.
PolyDyne Software. Two software products, DesignWiniX and QuoteWiniX, have contract management modules that help enhance leverage with suppliers by providing tools to import, process and aggregate demand from internal and external data sets that contain thousands of components. Software captures negotiated savings and helps increase competitiveness of bids by exchanging RFQ information with all franchised or selected suppliers via Web interface. Tel: (512) 343-9100; Fax: (512) 343-9297; URL: www.polydyne.com.
SAP. mySAP Supplier Relationship Management covers the full cycle of SRM, from strategy through execution, with comprehensive functionality for strategic sourcing, operational procurement, supplier enablement and content management. mySAP SRM is powered by SAP NetWeaver, SAP's open integration and application platform, which gives companies flexibility to integrate business processes, information and people from across heterogeneous systems and company boundaries. Tel: (888) 727-1993; URL: www.sap.com.
Upside Software. UpsideContract is a Web-based Contract Lifecycle Management solution that supports sourcing and procurement, contract creation, negotiation and management, compliance and performance management, financial processes (e.g., payments) and risk management. Used by global companies and small businesses alike, UpsideContract helps improve customer and supplier relationships and integrates seamlessly with ERP, purchasing and other systems to streamline supply chain processes. Tel: (780) 702-1432; Fax: (780) 702-1438; URL: www.upsidesoft.com.
Verticalnet. Verticalnet Contract Activation enables centralized sourcing organizations to disseminate centrally negotiated contacts to decentralized purchasing organizations or professionals. Contracts that are negotiated centrally, or in a single division, can easily be populated into the systems of other divisions, maximizing the use of contracts and facilitating the sharing of favorable contracts. Tel: (610) 240-0600; Fax: (610) 240-9470; URL: www.verticalnet.com.
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