The ERP systems of Focus Softnet provide a powerful contract management module, which can handle the entire workflow and contract process. The advanced features of Focus Softnet enable managers and business owners to stay ahead of their competitors and identify the next key step in their business strategy.
Monitors a contract through all its stages to ensure financial RISK is minimized.
Would ensure the deadlines of the contract are met without losing the QUALITY of the services / goods offered.
Helps to define the business RELATIONSHIP with respect to T&Cs, deliverables, and billing easily.
Acts as MULTI FACETS of a business - be it vendor relations, sales contracts or anything in between.
Streamlined Contract Processes: The contract management module in ERP simplifies and automates the entire contract lifecycle management process. It encompasses contract creation, negotiation, approval, execution, and renewal. Businesses can eliminate manual errors, improve efficiency, and reduce administrative burdens by centralizing contract-related information and standardizing processes.
Improved Collaboration and Communication: ERP software’s contract management module facilitates seamless collaboration and communication among internal teams and external stakeholders involved in the contract. By providing a centralized platform, it enables real-time access to contract-related documents, revisions, and communications. This fosters effective teamwork, enhances transparency, and expedites contract negotiations.
Integration with Other Business Modules: The contract management system integrates with other business modules in ERP software, such as procurement, sales, accounting, and operations management. This integration ensures data consistency, facilitates cross-functional collaboration, and enables end-to-end visibility into contract-related activities. For example, contract management in procurement enforces compliance and streamlines supplier management.
Compliance and Risk Management: The enterprise contract management module helps businesses maintain regulatory compliance and mitigate risks associated with managing contracts. It enables you to establish contract approval workflows, monitor contract performance against key metrics, and receive alerts for critical dates and milestones. This proactive approach ensures compliance with contractual terms, reduces legal risks, and minimizes potential financial and operational liabilities.
Efficient Reporting and Analytics: ERP's contract management module provides robust reporting and analytics capabilities, allowing you to gain valuable insights into contract performance, obligations, and financial impact. It enables you to generate custom reports, analyze contract data, and identify trends or patterns. This data-driven approach empowers informed decision-making, contract optimization, and improved negotiation strategies.
Industry-Specific Benefits: The contract management module in ERP caters to the specific requirements of different industries. For example, it helps manage project-specific contracts, change orders, and compliance with industry regulations in construction. It ensures compliance with healthcare regulations, manages provider contracts, and optimizes reimbursement processes. The module can be tailored to suit the unique needs of various industries, such as manufacturing, real estate, logistics, and more.
Cost Savings and Operational Efficiency: Implement ERP system with a contract management module to streamline the processes, reduce manual effort, and eliminate paper-based documentation. Automating workflows can significantly minimize contract cycle times, improve operational efficiency, and allocate resources more effectively. Additionally, you can optimize contract terms, pricing, and renewal strategies to reduce costs and maximize revenue.
Standardize your quotation structure, including pricing, discount and approval policies; and send them directly to the customers. This will allow you to handle quotes more quickly by streamlining the preparation of quotations. Quotes are translated automatically into orders without having to recheck the data to streamline the order phase.
Manage all terms of the contract such as complete payments, installment-based payments, booking terms and agreement. This feature help owners to easily maintain the booking and registration process of various business departments.
The contract management module is automated to monitor the lease start and end dates and trigger renewals, terminations through predefined rules. It is capable of handling of lease contracts & billing operations. It also helps in generating contract expiry and renewal reports.
Defining SLAs shall ensure that the service governance principles are followed. Classify parameters for service requests such as initial responses and contractual rates. ERP software is designed to be highly customizable in order to have a cascade-down effect on individual tasks, vendors and consumers.
Create schedules for planned and preventive management over different contract periods and monitor them using SLA tools.
The ERP system tracks important information such as dates and provides automated reminders and features that allow users to schedule notifications when necessary by eliminating the manual process.
Our ERP solutions are well-equipped with robust business ERP modules that can manage the entire business process with ease.
Contract Management ERP Software is an automation tool that helps businesses automate the entire process of contract management. It automatically generates required contracts based on user-defined criteria, sets reminders about expiring contracts, provides updates about existing and upcoming contracts, and also integrates with other core business management solutions such as accounting for seamless billing and invoicing.
The core features of Contract Management ERP Software include quotations, bookings & registrations, lease contracts, invoices, SLA management, planned and preventive maintenance, and other tools for operational effectiveness.
Focus Softnet provides Contract Management ERP Software in the USA (United States of America), Canada, India, the UAE (United Arab Emirates), Saudi Arabia, Qatar, Oman, Kuwait, Bahrain, Kenya, Singapore, Malaysia, Indonesia, Philippines, and Bangladesh.