The contract management system is a flow of things between the point of origin and the point of consumption in order to meet requirements of customers is all about logistics. The complexity of logistics can be modeled, analyzed, visualized, and optimized by dedicated simulation software like procurement contract. A number of procurement systems exist in the marketplace, and one increasingly popular method of procuring contracts is through e-procurement systems.
GiTS Contract management system features: Collaboration in procurement and sourcing, Assessment through questionnaire, Vendor bidding, Valuation of the bids, Reward and acknowledgement, Contract arrangement and issuance.
E-procurement helps the consumer as well as the supplier in many ways. It provides ease of access for the supplier to submit and provide their cost assessment towards product for quotation, and in contrast, it helps the customer to easily evaluate the quotations they received through scoring criteria for evaluation and comparison for better decision making. Subsequently, the customer can proceed to issuance of letter of awards as well as the procurement contract towards the chosen supplier.
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With GiTS for Procurement Contract:
- Standardized procurement and contract processes
- Reduce your time to create contract
- Drive contract compliance
- Consistent standards across the organization
- Enable suppliers to propose changes and alternatives products and services, and fill-in contract variables as part of their bids
- Alert on important due dates either one time or recurring
- Creation of Contract directly from purchase requisition
- Release call off order from specific contract
- Flexible workflow accelerates approval and signature
- Centralized system provides full visibility
- Implementation of role based access (contract holder / contract engineer / contract owner) authoring capabilities for contract quality assurance.
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What’s More:
- Enhance contract management system
- Contract arrangement and issuance
- Setup the structure of the contract
- Contract Follow-up
- Mile Stone Completion
- Contract Utilization
- Invoicing and Payment
- Contract amendment, cancellation and termination
- Generate real time and useful reports:
- Contract Summary report
- Contract Utilization
- Contract Status
- Contract Revision
- Contract Line Details
- Contract Payment Report
- Contract generation document in MS word or PDF
- Real time deliverable status