Contract Management

Get more value from your contract lifecycle with Sievo

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Contract signature is start, not the end of the process. Managing contracts for value requires:

  • Compliance management to sustain the value created in sourcing
  • Active contract lifecycle management to accelerate the value creation during contract lifecycle
  • Contract portfolio management to renegotiate (or renew) the right contracts at right time.

Contracts cannot be managed as an isolated data point. In analytics, 1 + 1 = 3. For example, contract data need to be combined with spend data to track compliance and with market data to track the performance of contract.

Also, it is not enough to view contracts from procurement perspective only. Contract information need to be shared and made accessible for various stakeholders to effectively address quality, CSR and supplier risk.

Sievo’s Contract Management solution is designed to maximize value capture throughout the contract lifecycle:

  • Contract upload so simple that it can be completed in 2 minutes and requires no training
  • Contract lifecycle management functionality, automatically notifying all stakeholders on critical events, such as contract expiry and renewal
  • Strong link with spend data, providing automated contract coverage and compliance reporting – without need to modify purchase processes to include contract numbers
  • Configurable solution to match each company’s unique contract lifecycle management needs
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Contract Lifecycle Management

Find value across the contract life cycle with Sievo’s Contract Lifecycle Management.

  • Create and efficiently manage one centralized repository for all contracts, accessible anywhere, 24/7.
  • Connect managed contracts to spend data in one platform across all offices and across the whole organization.
  • Monitor and take action on expiring contracts, renewals and renegotiations.
  • Set up advanced alerts and notifications to yourself and to suppliers.
  • Assign ownership of contracts.

Manage Contracts for Value

Sievo has re-invented Contract Management software by managing contracts for value.

Many Contract Management solutions available today only allow you to create, approve and store contracts in a central repository. They offer limited solutions once the contract has been filed.

Sievo’s Contract Management solution has been designed from ground-up based on the needs of key clients. It allows you to proactively manage contracts across the contract lifecycle and with a close link to spend data.

Filing new contracts with Sievo is quick and easy – it takes just 2 minutes to upload a new contract and get started. With the basics covered, you instantly gain visibility across all the contracts across your whole organization. You can identify areas of improvement or suppliers that may need attention exactly at the right time, whether it is 3 or 6 months before the contract expires. Use advanced notification features to pin-point renewal and renegotiation opportunities quickly and easily.

Ways that Sievo’s Contract Management goes above and beyond to help you manage contracts for value:

  • Monitor contract coverage. Review how much of total spend is covered by contracts, and key areas where it can be improved.
  • Ensure contract compliance. Ensure contracted suppliers are being used and reduce risk of maverick buying.
  • Refine the contract lifecycle. Get notifications of soon to expire contracts and ensure renewal and renegotiation process is optimized.
  • Plan ahead for strategic sourcing. Review commitments across categories to identify the right time to source new suppliers.
  • Allocate responsibility. Review contract coverage by team member or by category to assign tasks and actions.

Ready to manage your contracts for value? Request your free live demo.

 

Why stop at Contract Management? Go beyond :

Spend Analysis

Turn your heterogeneous source data into categorized spend data and tangible opportunities

Savings Program Management

Translate spend analysis into savings opportunities, execute savings projects and track savings contribution

Spend Budgeting & Forecasting

Leverage spend data for creating forward looking view on price, spend, volumes and profitability