Document Management with Visionary Control
Why do modern cars have tire pressure sensors? The tire sensors provide feedback when a tire loses air so that the driver can act before the car crashes! Shouldn’t you have the same feedback mechanism in your contract management to avoid a contractual crash before it occurs?
ProcureSafe’s Executive Dashboard provides the contract data to avoid crashes and avoid unnecessary commitments.
The Dashboard will help you:
- Plan for contracts coming up for renewal in 2018.
- Review operations for the need for the services that the contract provides.
- Know the monthly contractual commitment for creating budgets
- Maintain control while moving at the speed of today’s business.
- Easily find the supplier to bid the contract using industry standard multi-sourced contracts
Strategic Contract Planning Tool
It is human nature to deny making mistakes, especially at work. Performance reviews, salaries, and employment can be dependent upon performance. ProcureSafe understands the need to help you perform at a higher level. The Executive Dashboard provides the visualization to reduce risks of missing an automated renewal, while providing a view for planning and monitoring contract management. A department can be summarized, so an executive can monitor staff progress and overall performance.
ProcureSafe provides a view where in a simple click the contractual expenses are exposed with no hidden contracts that renew for services no longer needed. Planning for only one contract renewal can provide an ROI for the use of ProcureSafe. One customer stated that the tool helped them plan for not just one contract, but 214 contract renewals that resulted in $1.7 million in spend savings in Q1 2017.
Contract Management Case Study
Industry: Lighting Manufacturer
Company: Automotive Manufacturer Supplier
Area Served: Worldwide
US Employees: 1,300
Situation: Customer indicated that they had discontinued a software service, but unaware to stakeholder, the contract had an automatic renewal clause.
Result: Missed renewal committed the organization to continue to pay for another year of a discontinued service.
Solution: ProcureSafe (Contract Management)
Notes: The customer also shared that it was easier to let accounting keep paying, rather than to fight against the supplier of the contract. This one contract cost more to the company than a three-year subscription to the ProcureSafe platform.
If you are a current customer, and you are not achieving these results, let ProcureSafe help you apply industry best practices to the utilization of the tool.
If you would like to apply best practices to your organization, just give us a call at 614-310-3122 and we can help you get started today putting ProcureSafe’s “X-Ray Vision” to work to help you find the contract needles in your haystack.