CombineNet Contract Management Solution: Contract Creation
Streamlining the Contract Creation Process
Once bid analysis and supplier negotiation is completed in CombineNet ASAP, the sourcing event data is integrated directly into CombineNet Contract Management, populating contract templates with supplier information and pricing. This contract creation ability greatly reduces the time and effort of creating new contracts and manually keying in contract meta data including the negotiated prices for purchased items.
With CombineNet Contract Management, users are able to create a library of sell-side or buy-side contract templates to ensure that they are collecting and incorporating the information they need for the contract type they are creating. Clause libraries also help to streamline the contract creation process, by reusing existing and pre-approved contract clause information across different contract types.
Collaborating with suppliers during contract negotiation is also easier with CombineNet Contract Management. Native integration with Microsoft® Word® and the embedded Workshare™ DeltaView functionality means that contracts can be sent to third parties via email for offline review and editing, with unmatched redline comparison and audit history available in CombineNet Contract Management.
Internal review and approval processes are supported with a robust Workflow that routes contract revisions to the right party based on the type of change to the contract. Upon final approval and execution, CombineNet Contract Management provides an easily managed contract repository that provides ongoing maintenance and contract compliance capabilities.
To learn more about how CombineNet Contract Management can improve your contracting process, contact us today.