How much of your business relies on contracts? Consider all contract work – buy-side, sell-side, non-financial agreements and work requiring access to contract information. As technology has made contract information more accessible and visible across the organization, businesses are learning to improve their processes to drive greater revenue, reduce costs, and proactively manage risk and compliance.
R3 Contract Management is a flexible solution to manage the contracts and to support the processes that drive contracts and leverage them by users across the organization. Most contract management systems from other vendors are monolithic that merge core contract department work with processes. This creates an overly fragile system that is difficult to change without affecting the whole system.
In our solution, we take a different approach. It is a far more flexible, two-tier solution. You get a Back Office for the Contract department and a flexible Front Office enabling you to define processes that best meet the needs of your organization and the specific contract situation.
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In your Back Office, you are able to tightly manage all contracts in a single content repository based upon the industry leading Microsoft SharePoint content management system. You can track and drive contract initiation, manage contract performance, and, provide access and visibility through robust reporting. It is fully configurable to meet your specific needs using our built-in configuration wizards.
Your Front Office, allows you to define processes that meet specific contract needs from simple to complex requests and processes such as invoice approval that benefit by access to contract information. Users are able to see all contract processes they are involved in through a single work console. Going beyond simple workflows, you can create information-rich processes that allow users to work with “packages” of documents, access related information, and perform all types of actions to get their work done as part of the process.
Solution Highlights
Below are some of the key highlights of this solution:
- Central repository for all contracts and supporting documents
- Visibility and access to contract information by users working from anywhere in your SharePoint environment
- Ability to define your own contract processes and workflows for new contracts, modifications, renewals, amendments that optimize the work
- Full support for contract initiation activities – request, author, review, approve, execute
- Contract performance management to closely manage contracts, renewals, obligations
- Configurable alerts and notifications
- Information-rich processes supporting contract “packages” and supporting information and in-process user actions
- Configurable reporting and analytics
For more information on R3 Contract Management, see the product page. It contains videos to show you contract work in action.