When entering into new purchasing contracts, it is important that the right contract conditions and documents are agreed in advance with the supplier. With VendorLink Contract Lifecycle Management, you follow the desired contract process, including authorisation and E-Signing, with your supplier.
Depending on the type of purchasing category or risk profile, certain contract conditions are applicable. In VendorLink, you select the contract templates that your organisation needs, including conditions, mandatory fields, tasks to perform, and authorisation route.
In VendorLink, internal principals can independently initiate a contract creation process. By selecting the correct contract template, the required fields are completed and the contract follows the desired authorisation route before being presented to the supplier. In this way, the contract process is followed efficiently and quality is maintained.
After the contract has been internally approved, the contract proposal is presented to the supplier in the Supplier Portal. To do this, you can use the handy VendorLink E-Signing functionality, with which both the internal principal and the supplier can digitally sign in the VendorLink Supplier Portal.
To ensure that all communication regarding a contract is open to inspection in one place, you simply create a TEAM and add members to it. The members of the TEAM can quickly respond to questions in VendorLink in person or via email, and appendices can also be added.
To track the results and progress of the agreed contract arrangements, you set contract arrangements and KPIs. These show whether the supplier is complying with the agreed contract arrangements, and whether measures need to be taken to improve this.
For each contract, notifications are automatically configured well before the contract expires. You can then choose whether to internally evaluate the contract, and then terminate it or renew it. You can then have VendorLink automatically send the termination or renewal to the supplier and make it available in the Supplier Portal.
Collaboration on contracts and agreements with suppliers calls for coordination: who is responsible for which tasks, and when do these have to be completed? With VendorLink PLANBOARD, you can place your task lists on a plan board in an orderly fashion. Assemble your TEAM, divide the tasks, and follow progress on the Planboard. That’s how you achieve the desired result together.
Increase your contract compliance and reduce risks
Supports each contract phase
Saves time through E-Signing
Uses workflows for circulating contracts
Increase your contract compliance and reduce risks Supports each contract phase Saves time through E-Signing Uses workflows for circulating contracts