Meet the Most Complete Contract Management System on the Market!
Contract management is a logical next step to create additional value in strategic sourcing and eProcurement. We are all juggling multiple contracts from a variety of vendors, so a central method of storing and managing contracts can only help. Larger organizations also need to track contract authoring and approval processes. Whatever your size, though, when you consider a contract management solution, you will want one that will meet your needs now and in the future.
When asked about contract management, Jason Busch (founder and head of strategy) at Spend Matters responded, “It takes a proverbial village to manage a contract effectively. As more individuals become involved in day-to-day contract management, they require visibility into granular contract details including obligations. The expansion of contract management beyond legal and sourcing departments into all stakeholders requires an intuitive and integrated user experience – as well as seamless integration into other systems.”
We couldn’t agree more, which is why simplicity, control and Salesforce integration punctuate our 16.1 Total Contract Manager (TCM) release, making it the most complete contract management solution on the market today.
New and upgraded contract management capabilities truly run throughout the entire functionality of the solution:
- Obligations Management support across the contract lifecycle (Library, Authoring, Line item Management, and Expiration Monitoring)
- Contract Expiration Status Dashboard (with auto-renewal when appropriate)
- Two-way SalesForce.com Integration for sales-side contracts
Common Contract Compliance Clauses at Your Fingertips
While contract management solutions have included configurable libraries of clauses and templates, individual obligations have been missing – until now. Total Contract Manager is the first contract management solution to deliver a pre-built standard obligations library.
As with contract clause and template libraries, having a centralized, automated repository of contract obligations eliminates ad hoc manual entry in spreadsheets and makes it easier to store and reuse common obligation items for all of your contracts. You can also add those library obligations to your contracts with just a click, simplifying and streamlining the contract creation process.
Total Contract Manager also includes Obligations as part of your reporting and contract management experience. Updated reporting and alerts capabilities monitor every aspect of your contracts for compliance. The Obligations Dashboard tracks internal and external obligations for all your contracts and SOWs, no matter how complex, assuring that you remain in compliance with contract terms and conditions.
Contracts Fully integrated with Salesforce.com
TCM’s new Salesforce integration instantiates a new contract from inside the Saleforce Opportunity, streamlining the authoring process, reducing email clutter, and avoiding manual data entry. The contract (with attachments) syncs up between TCM and Salesforce, allowing all stakeholders, such as sales executives, to see contract status in their most comfortable tool.
End-to-End eProcurement Integration – Upstream and Downstream
Part of the JAGGAER Source-to-Pay platform, TCM doesn’t merely communicate with other eProcurement solutions: they all share the same data. For example, a contract created from a Sourcing Director managed RFP will not only kick off with a button push, but all relevant data is auto-populated, even commodity codes.
In fact, those commodity codes (and other such data points) are all auto-populated across the entire suite including eProcurement, accounts payable, and supplier performance management. The platform-wide commodity code classification system makes it easy to search and report on contracts linked to specific commodity codes and/or events.
Easier than ever contract management and renewals
TCM’s out-of-the-box “Expiring Contract” report will increase your visibility into upcoming contract expirations, reducing your risk of exposure across your contract portfolio and facilitating better business continuity. This hands-off approach means you no longer have to worry about lapsing contracts or spend precious time manually tracking expiration dates. If you notice a contract is about to expire, renew with a single mouse click.
Any one of these new capabilities would make the Total Contract Manager 16.1 release a powerful addition to the JAGGAER Source-to-Settle family, but now that all of these are available, TCM is the most complete contract management system on the market today. Whether you want to eliminate manual processes, reduce contract processing time and errors, or simply gain visibility and accessibility, TCM 16.1 is the tool for you. To learn more about TCM 16.1 and what it can do for your business, watch this two-minute introductory demo or read the datasheet.
Do you want more out of your contract management solution? Tell us about it on Twitter!
Raki Prasad is a product management manager at JAGGAER and specializes in contract management.