Contract Management & Execution
Manage contracts and renewals, control their commercial execution based on real sales traction and agreed terms, and track down contract performance
End to end management of contracts
An advanced way to manage customer contracts and renewals. Connects sales, contracts, and other relevant teams into a unified system to monitor contract status and execution, while ensuring corporate alignment and seamless team collaboration. Including contract status & management, product selection with grouping & bundling, pricing terms, rebates & incentives, renewals, integrated workflows and approvals, price resolution, revenue recognition, and performance tracking.
Less time to create and manage new contracts
Efficiently create and manage new contracts with team collaboration and automated workflows & approvals.
Improved contract performance
Monitor renewals, fulfillment, rebates tiers achieved and other performance KPIs to help identify opportunities for improvement.
Contract process governance
Continuous overview of contract status & fulfillment and users’ activity. Ensure compliance by recording agreed contract terms and monitoring against actual sales traction.
Key features
Contract management
Customers
Multiple customers’ selection with GPO/IDN support.
Products
Product selection with groups & bundling.
Access to information
Easy access to information for customers, products, and past quotes.
Pricing
List prices per country. Special prices and discounts.
Rebates & Incentives
Yearly, quarterly, monthly, and one-off . Tiers definition for units, revenue, or market share. Multiple benefit types including % of sales, fixed amount or amount per unit, and FOC.
Additional incentives
Early payment programs, GPO or other service fees.
Contract actions
Record start, end, and renewal dates. Manage contract status and renewals.
Approvals
Approval roles
Multiple approval roles including members of the tender/contracts office, sales representatives, area managers, sales directors, sales VPs, country managers, pricing experts, pricing directors, from any function or hierarchical level.
Custom rules
Custom rules based on price approval levels and other criteria.
Multiple actions
Approve, reject, rework, review, pass actions. Automatic or manual escalation and alternative approval routes.
Approval types
Sequential or parallel approvals.
Contract Execution
Rebates & Incentives
Calculate rebates & incentives taking into account the agreed terms of the contract and sales traction so far.
Price resolution
Calculate invoice price taking into account the agreed terms of the contract and sales traction so far.
Revenue recognition
Recognize revenue per contract and per product either directly or indirectly using a wide range of automatic distribution rules.
Contract Governance
Track performance
Monitor renewals, fulfillment, rebates tiers achieved and other performance KPIs to help identify opportunities for improvement.
Process audit
Track the process in each step from contract creation, updates, renewals, and approvals and users' activities to ensure compliance.