Contract Tracking provides the purchasing, accounting, marketing, IT and legal departments with an easy to use solution. Enter, approve and manage vendor contracts, internal CAPEX projects and associated budgets.
Contract Tracking assists the Financial Planning & Analysis (FP&A) team with forecasting. When a contract solution is fully integrated with AP Invoice and Purchase Order processing, you can quickly tag expenses to a Contract for detailed spend analysis.
Up to 12 user-defined picklists and fields are available to capture Contract metrics, such as start and end dates, renewal dates, change orders, insurance certificates and payment terms. Contract Tracking includes search and reporting with role-based visibility to the Contract status and budget. Organizations benefit from the centralized visibility, reporting on contracts by vendor and the information to manage large, multi-vendor Capital Projects.
A buyer or department manager can route a Contract for approval. Contract Tracking captures important metrics or terms for granular reporting on the status or performance of the Contract. Attach additional Contract documents, such as insurance riders, and route them along with Contract details for approval. Ariett captures all comments regarding requested Contract changes and stores any additional documents with the Contract. To track your Contract budget, tag requisitions, purchase orders and invoices to the Contract.
|Unlimited Electronic Document Attachments|
|Approval Workflow with Internal Communication for Collaboration|
|User-Defined Fields or Picklists to Track Vendor Performance, Metrics & Milestones|
|Change Order Tracking with Audit Trail|
|Contract/Project Budget Checking|
|Track Requisitions/Purchase Orders/Invoices Against Contract Budget|
|Search and Contract Tracking Reports|
|Real-time Visibility to Contract Status When Approving Invoices or Requisitions|
|Ability to Assign an Entire Requisition or Invoice Amount to a Contract or to Assign a Specific Distribution Amount or Requisition|