Good Contract Management is essential for procurement success. Scanmarket makes it easy to consolidate all of your agreements and commitments, collaborate with stakeholders, monitor, approve & follow up on contracts. All in one single repository that can be accessed by users worldwide anywhere, any time. Best of all, Scanmarket Contract Management isn’t just about creating efficiency. It also supports Risk Management by giving you a centralized view into your commitments. And direct savings by identifying price discrepancies across commitments.Why Contract Management really matters
A good contract repository starts with control and visibility. Contract Management with Scanmarket makes contracts easy to find, fast to create and easy to manage. Find out more in the video here:
Contracts are probably the most important assets in your organization to document commitments, maximize opportunities, minimize risk and achieve compliance. Contract Management with Scanmarket makes contracts easy to find, fast to create and easy to manage. All stakeholders from procurement to legal to sales can easily get access to real-time contract data that provides the visibility and insights they need to make important decisions.
Contract Repository – control starts with visibility:Simply knowing where and how to find contracts is the first step to good Contract Management. Contracts are stored against configurable templates making sure you can track your contracts based on the right information – making it easier to plan your sourcing pipeline.
Visibility is ensured through:• A 360° dashboard view with powerful search, filter and reporting • Full audit visibility of any changes • Automatic notifications to manage expiry and renewals
Contract Authoring & Redlining – simplifies writing and negotiating contracts.Structured contract authoring gets everyone on the same page using the same approved clauses and templates. Advanced contract redlining with internal and external counter-parties enables you to easily manage new and renegotiated contracts. Scanmarket provides you with: • Clause libraries with pre-approved clauses for standardizing contract language • Template libraries with standard documents for unified contract authoring • Redlining and approval workflows so nothing gets lost in users email boxes or on their computers • Audit trail and version management to keep the history in a central place
Improved visibility and control of all company contracts and commitments
Authoring & Redlining
Use the same approved clauses/templates & manage new and renegotiated contracts
Ensure relevant employees access to contract history – anytime, anywhere
Notify contract owner of contracts that need attention or renewal
Full control of contract versions and full audit trail of changes
Single online repository for all contracts
Consolidate all your contracts and create a single source of truth in your company with a single, enterprise-wide repository. The Contract Management Platform allows setup of all contract types and associated metadata within a single dashboard, giving easy access to all contracts, documents and data.
The contract repository can be customized with a personalized view and pre-configured search and filter settings. The personalized view helps you quickly find what you are looking for and only see the information relevant to you.
The Contract Management Dashboard provides quick and easy access to contract data. You can search across multiple criteria including contract status, contract managers, start/expiry dates, custom metadata fields, keywords, etc. and the platform even lets you search the full text of computer generated documents such as PDF's or Word files.
Run reports and export into Excel in seconds to take all contract data offline if needed.
Define your own contract metadata templates to ensure you only capture relevant data for each specific contract. The platform automatically keeps track of updates and changes to datafields providing full version control with powerful visual side-by-side comparison of versions.
Drive standardization across the company to reduce risk with authoring based on pre-approved templates. The platform provides contract clause management with an easy-to-use clause library that helps managing fallbacks and dependents requiring mandatory language and keeping history of different clause versions.
New or updated clauses have to go through a mandatory approval process before becoming available for contract creation. The platform tracks all clause usage in templates and agreements to provide deeper insights.
Accelerate contract creation with templates with pre-defined document formatting, contract clauses, custom text, metadata tags, and other data such as exhibits and appendixes.
Significantly improve negotiation governance with redlining and version management. Every step in the redlining process is saved as a new version providing full visibility and traceability. Document redlining is managed with high user experience in focus using deep Microsoft Office integration.
Approval workflows can be defined per contact template ensure that only relevant people are asked to review and/or approve a new or updated contract.
Out-of-the-box integration with DocuSign for electronic signature ensures quick and secure contract execution. The integration makes the signature process more efficient based on user-defined workflows - it allows you to see in real-time where a document is in the signature process, while seamlessly updating the document and other data on the platform after completed execution.
The platform provides an easy overview of contract ownership. This is key when you hire new contract managers or reorganize the organization. New contracts are easily assigned to the relevant contract manager and existing contracts can be mass-updated to reflect a change in ownership.
Make sure you never forget about a contract that needs your attention. The platform allows for proactive notifications to be sent for contract dates such as termination, expiry or other milestones. Configurable notifications let you specify the recipients, format and content of each relevant notification delivered via email.
The platform provides automated audit logs on all contracts providing full history of any updates to fields, signatures, approvals, etc. The detailed audit log is available for instant searching and filtering as needed.