Making true compliance a reality through linking contract information.

Contract Management comprises the process of recording and maintaining a contract through its life cycle. However, at PRGX Analytics, we take this one step further.

Our Contract Management system can be integrated with the PRGX Spend Analysis module at a detailed level, providing the ability to monitor contract compliance. It’s very difficult to know how effective a contract has been, is it being utilised and to what extent?, how much maverick spend is there in a particular spend category? am I getting pricing in line with the negotiated values?

By linking contract information with actual spend data, true contract compliance can become a reality.

Deliver fast and effective collaboration throughout your organisation

Even in today's information age, contracts can often be held in multiple paper and electronic repositories. So, a quick win is to ensure contract recording is in one-place, easily accessible to all of the internal stakeholders (procurement, finance, legal, business units etc).

The PRGX SpendTrax™ Contracts module delivers fast and effective collaboration throughout the organisation. At the heart of the Contracts module is a flexible contract and document management system which allows:

• Users to quickly set-up a new contract and append related documents
• Search and edit contracts in accordance with user permissions
• An individual in-box for users with favourite contract lists and contracts passed for review
• Automated e-mail alerts at key contract milestones
• Contracts to be linked to actual spend data using a common supplier, materials and spend category codings

The module is easy to use, fast and integrated with the other elements of PRGX SpendTrax™ provide clear visibility of the contract, the associated supplier and the related spend.

Record, share and deliver contract compliance.

The Contracts module doesn’t just allow you to record and share contract information. It also delivers contract compliance. The key benefits are:

• Effective internal document sharing and collaboration
• Utilise contract templates to standardise and speedup contract set-up
• Formal review procedures between users will improve controls over contract set-up
• Link contracts to supplier master data and get a consolidated view of the supplier and its contracts
• Link contracts to spend data and obtain contract compliance reporting; providing assurance, control and savings opportunities from increasing compliance

The Contract module contains its own suite of reporting providing an analysis of contract activity against milestones, and compliance against spend.

Finally, the Contracts module is an integrated element of PRGX SpendTrax™ a secure web based application. We look after the infrastructure – you get the information on-demand from wherever you’re located.