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Manage more contracts using fewer people, less time and a smaller budget

Contract Management is critical to an organisations​ success as it provides a rigid way to monitor success​. However, at the moment, there are seemingly insurmountable​ challenges, we are here to say they are surmountable and this is how:

Contract Management Challenges

Challenge #1: Lack of Supplier Information

By having contract management software that has a fully integrated vendor management system, a contract manager can have a real time view of a supplier performance. This can include costs, quality, accountability and usage. 

Functions and Features of a turnkey contract management platform

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Contract Repository

A centralized repository with contracts stored under individual business areas accompanied by metadata and third party information gives you a single source of truth and overall simpler contract management experience.

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Alerts and Notifications

Being wary of upcoming renewals, pending obligations and key provisions of your contract is critical as a contract manager. Receive duly reminders on upcoming renewals and alerts on non-compliance occurrences pending obligations.

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Performance Reporting

Performance reports on contracts gives contract managers and participants insights on their work patterns so they can identify bottlenecks in processes to eliminate them. Reports show you if your contracts are renewed on time, obligations are duly met and contract cycle times are proportionate.

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Manage approvals through workflows

Sending contracts for approvals through emails is highly inefficient due to lack of transparency and document versioning issues. Software workflows, in contrast, provide a cleaner approval process by allowing users to select participants followed by the routing order. Notifications help you get instant updates on the process and while the workflow history comes handy during audits.

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Standardise contract types and governance standards

By enabling users to define standard contract types and their associated metadata rules, new contracts are compiled quicker. The system helps businesses enforce governance while allowing for customization to individual business division rules and its contract types.

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Simplify new Contract Creation

Expedites the contract creation process with standard contract types, clause library and template automation. It facilitates a smooth amendment process through document upload, amendment wizard and amendment specific workflows.

Simplify Facility management today with Silver Axiom

Keep control of your facility, manage your vendors, your assets, your contracts and your internal staff with an easy to use platform with a complimentary mobile app

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