CombineNet Contract Management Solution: Contract Compliance
CombineNet Contract Management improves contract compliance by implementing a standard, consistent process for the contract creation, approval, execution and ongoing maintenance of contracts.
A Standardized Process Means Improved Contract Compliance
User-defined compliance items and events, as well as information specific to various types of contracts are included during the contract creation phase to ensure effective post execution management. Built-in workflows for internal review and approval drive compliance with decision making and help improve processes by ensuring tasks are being completed and that responsible parties involved in the process are provided automated system-based email alerts and notifications once contracts are executed. A full audit trail shows contract revision history, including redline views, actions, authors, and approvals.
A robust contract repository provides ongoing management and maintenance of key milestones and dates, such as contract renewals. Complete contract lifecycle management capabilities enable contract managers to review tasks and progress, identifying process bottlenecks that can be improved upon to further reduce contracting efforts and time. Ad-hoc reporting enables users to create daily alerts for upcoming contract renewals, or other system-wide queries.
To learn more about how CombineNet Contract Management can improve your contracting creation and compliance process, contact us today.