Most organisations today operate under a variety of contractual arrangements with vendors, partners, clients and service providers. Each contract defines rights, obligations and responsibilities between interested parties. Inefficient management of contracts can be expensive in many ways and unnecessarily expose business vulnerabilities of the organisation.

Independent Research

Independent research by the Aberdeen Group in December 2006 on Contract Management, established that one of the major challenges reported by respondents is the disconnect between the various processes.

They also found that organisations face challenges with standardisation of the language used in various documents, which raises the issue of financial and legal risk.

PerformaContracts automates the capturing, controlling and monitoring of contracts and gives you high visibility access into the key information that enables you to impose your rights, meet your obligations and control your business.

Benefits

  • Streamline the contract approval process;
  • Efficiency in the process of managing contracts and related documents;
  • Support active monitoring of contract’s financial performance;
  • Monitor performance of contract elements (such as Deliverables, Work Orders and Milestones) and contract itself;
  • Manage compliance and operational costs;
  • Shorten the contract negotiation cycle.

Product Highlights

PerformaContracts allows you to manage and monitor every aspect of a contract, regardless of its type, size or complexity. It includes contract metadata capturing and maintenance, contract status monitoring, coordination and approvals, alerts, performance tracking and early warnings, compliance requirements tracking, contract budgeting, deliverables, amendments, milestones, reports and more.

The long list of standard features includes:

  • A simple and user-friendly way to capture key information about the contract;
  • Tailored data entry screens and specialised file uploads to facilitate efficient and accurate data entry;
  • Configurable validation rules that enforce data quality;
  • Support streamlined business processes using the flexible workflow engine that enables managing the workflow process and assists to manage and control the complexities of the contract information lifecycle;
  • Capability to attach related documents to the digital contract record;
  • Integrated access control and ability to meet stringent security requirements;
  • Consistent view/retrieval of data including full history and audit information;
  • Support versioning of contracts and other produced documents;
  • Secured information repository for storage of the contract information in a structured and consistent manner that supports easy discovery of key facts about contracts and/or contract elements;
  • Role-based security and access control mechanisms that ensure information is protected from unauthorised access, use and destruction and include document and data-level security;
  • Customisable navigation model;
  • Unmatched extensibility framework that allows development of customised functionality that precisely meets specific needs;
  • Advanced reporting capabilities, including the ability to dynamically create lists;


Professional Services
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Performa Contracts Brochure