With integrated contract management tools, you can maintain a centralized view of all vendor contracts to ensure that key contract obligations are met. Stay ahead of automatic contract renewals or supplier insurance certificate expirations as part of a proactive risk management strategy. Keep track of supplier performance assessments and Key Performance Indicators (KPIs) to enforce vendor performance standards.
Instead of sitting in a file cabinet, contract documents, warranties, modification history, key dates, and payment information can be accessed and updated directly by authorized users.
Set up custom contract fields to track information that is unique to your business.
Make executed contract documents available to all members of the team involved in managing the engagement.
Keep track of major subcontractors on your contracts.
Maintain information on scheduled contract events and milestones and set up alerts in advance of renewal dates.
Track incoming invoices, payment, and retainage so you have up to date financial status on your projects.
An optional Contract Compliance feature allows you to track contract awards, payments, and subcontractors in support of first and second-tier disadvantaged business enterprise reporting.