Contract Management
Contract Management Solution
Contracts are the lifeblood of every multinational corporation.
Contract Management gives unparalleled insight into the contracts you hold with suppliers. By providing visibility across your entire organization, the solution improves the tracking, negotiations and management of every contract to ensure compliance at all stages of the supply relationship, reducing legal disputes and litigation risks.
Things it will do for you
Contract Repository
You can’t manage what you can’t see. Our cloud-based contract repository works like contract central bank, making every contract, agreement and attachment instantly accessible.
Clause Library
Access a comprehensive clauses library with approved and alternative language versions of contract clauses. This is customized to both the maritime industry and general agreements or contracts such as employment and consultancies.
STANDARDIZED Authoring
Create standard templates for services & products that are used constantly by your company. Now, you can award contracts after the close of any bid instantly. Whether from scratch, from templates, from previous contracts or directly from an awarded sourcing project, they are all saved and maintained in our central bank.
Risk Tracking
Contract Management is risk management. Our contract management solution is like having a compliance team watching over your shoulder, looking out for your best interests. You’ll never leave out critical items, thanks to robust tools for managing tagging for clause usage, compliance, risk level and collaborative notes.
Negotiation
Keeping both sides abreast of content instead of contentious. Automated contract authoring capabilities improve the time and effort it takes to get both internal and external stakeholders to the dotted line. Our advanced workflow capabilities control sending, version tracking and redlining for new and renegotiated contracts. Better tools turn contracts into collaboration.
Approvals Management
Obtain the approvals needed with complete visibility and control. Whether your workflow and hierarchies are conditional, serial or parallel type of approvals, users can now see where the contract is and where it needs to go next until completion.
Contracts; Is it C for Critical?
Contracts establish more than terms and conditions. They instill confidence. They let everyone involved know what was negotiated, what’s deliverable, what’s expected.
With “60% of corporate litigations are related to contract disputes” (Aberdeen Group)
The answer must be yes.
how does it work for me?
Ineffective control of contract management cost businesses £100 billion per year in missed savings opportunities. (Aberdeen Group)
When contracts are clear, you win.
Audit & reporting
Our contract management tool provides not only visibility but traceability. Tracking all significant contract events—from approvals to task reassignments, rejections, notes and relevant contract details.
Contract Amendment
As contracts change, it becomes difficult to trace the number of changes, dates and the terms and conditions. Our platform can provide with the capability to save every change and maintain the information from inception as a timeline.
Reduce Costs
Select the country and port where the service is needed. Then, select the appropriate type of services or products from Port Agent & Ship Chandler to Marine Surveyors and Admiralty Lawyers.
Execution
As soon as a contract is signed, all responsible parties that are carrying the obligations will receive alerts and can set up follow ups so that deadline are met and tasks are completed or sent for approvals.
Obligations Management
From the start of the negotiations until the contract is signed, all employees and stakeholders are kept informed. As soon as a contract is signed, each one is assigned a task. This is essential for companies that have multiple offices.
Automatic Alerts
Online monitoring of contracts status, available in real time for authorized users. Lawyers or in-house counsels are automatically informed of any changes or updates made by your staff or suppliers.
Complete Visibility
The solution enables you to gain timely insights into contract obligations, exposures, expirations, changes, and renewals to deliver greater control over your contracts, reduce costly oversights and expose potential risks.
eSIGNATURE
Speed up the authoring-to-execution timeline, improve collaboration and keep a detailed audit trail of who signed what and when by automating the review process and providing visibility into a contract’s progress.
How does it empower suppliers?
Giving beyond discounts and deals.
When contracts are under control, WOW.
turn Suppliers' Small Business to Smart Business
Empowering your suppliers to become a smart business will cut down their costs from human capital and other corporate expenses enabling them to focus on servicing your business with lowers costs. You are preparing them for success through efficiency. They will return the favor to you; passing the savings on to you.
Better Information = Better relations
The more your suppliers know about your corporate goals & KPIs, the better and more effective they would be in winning your business and relationship. The platform will enable suppliers to know more about your demands and also about their services. When bidding next time supplier will make sure to get you competitive prices. Or when you share your score cards they will ensure providing you with better quality.
Visibility & Analysis = Better Decisions
Now, your suppliers can know where they lose your business and can become more effective in winning your business.
Free of Cost = Savings onto you
The powerful tools and solutions our platform provide to suppliers are all free of charge.
Ready to make contracts lock in the value?
A contract is fundamental. Increasing contractual complexity and audit scrutiny for contracts is a given. With our solution, you can leverage a single, central repository providing total visibility over all contracts. Reduce contract cycle times through interactive negotiation between parties and streamlined approval processes and eliminate risks. See how with our risk-free trial.
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