VENDX Contract management module
VENDX’s Contract Management Module streamlines the complete contract lifecycle, from issuing RFQs to final approval and execution. Automated negotiation tools enhance vendor interactions, while real-time comparison charts support informed decision-making. With flexible contract types to meet diverse procurement requirements and real-time tracking for compliance and overutilization prevention, it ensures efficient and effective contract management. Seamless ERP integration further supports smooth data synchronization and order processing.
Challenges what the user faces in context of the contract management / Challenges
- Missing workflow of contracts for drafting/signatory
- Storage and retrieval of all your signed contracts
- Key terms & tenure of contracts not in one place
- Missing out on contract obligations
- Listing of all legal contracts across functions
- Communication gap among businesses and legal
- Approval matrix for contract execution and adherence
- Digital signature for paperless execution
- Anywhere access of signed contracts for early decisions
- Lack of smart contract management automation
Workflow Features
- Draft Contracts from Standard Templates
- Configure Flexible Workflows
- Multiple Contract Template Creation
- Customized MIS/Reports
- Auto-Document Versioning & Audit Trail
- Clause Specific Approval
- Clause Library
- Digital Signature
- Track Obligations & Renewals
- Active Directory Integration/Single Sign-On
- Integration with ERP & CRM platforms
- On-Premise/Cloud Based Solution
- Procure E-Stamp Papers
AI & ML Features
- Auto Metadata Creation
- Risk Categorization of Clauses
- Self-Learning Model for Clause Suggestions
- Document Specific Keyword Search
- Inbuilt Chatbot
Benefits
- End-to-End Contract Lifecycle Management
- Automated Workflows and Approvals
- Dynamic Contract Management
- Comprehensive Contract Dashboard
- ERP Integration
- Advanced Negotiation Capabilities
Features
- Multi-Plant and Multi-Slab Contracting
- Excel Upload for Bulk Contracts
- Customizable Alerts and Notifications
- Centralized Repository
- Integrated Negotiation and Re-Quotation
- Real-Time Contract Utilization Tracking
- Comprehensive Audit Trails
- User-Friendly Interface
- Scalable Solution
- Enhanced Collaboration
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