Emptoris expands contract management capabilities
New contract management tool adds real-time visibility into spend categories
by Maria Varmazis -- Purchasing, 10/10/2008 3:27:00 PM
Burlington, Mass.-based software provider Emptoris announced new features for its base supply and contract management suite, aimed at adding more visibility into spend at a faster pace. Emptoris officials say given the global financial crisis, there is a pressing need for data to come in as quickly as possible while including more spend so companies can take advantage of cost reductions at the first possible moment. Consequently, one of the expanded capabilities of the Emptoris suite includes real-time category drill-down, meaning a buyer can click on a dashboard, focus on a specific item and pull up its related data quickly.
In a statement, Emptoris president and CEO Avner Schneur says: "The CEOs, CFOs and CPOs of leading companies that we work with have expressed to us a need for actionable visibility into their supply relationships and greater agility in their contractual relationships."
Additional new features of the software include more contract management options--including the ability to create and edit contracts en masse as well as tie a contracted supplier's performance data directly to their contract on file. Buyers will be able to monitor a supplier's historic performance and spend levels from within the contract to make sure terms are being met.
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