Challenge
- Inadequate strategic supplier contract management process – expiration dates went unnoticed, obligations not systematically tracked
- Contracts security certification documents were hard to locate
- Dissatisfaction with SharePoint as contracts repository
- No systematic response process for client audits
Solution
- ELM Manage Contracts module with automatic expiration alerts and color-coded dashboard for expiring contracts
- Ability to quickly take action within system to initiate renewals, negotiations, etc.
- System onboarding process for strategic partners and operational suppliers
- Built-in procedures and mandatory controls for audit compliance
- Strategic partner ‘social profiles’ for contract management, communications, obligations, reviews, and due diligence
- Supplier security and audit information readily available
- Ability to scale and incorporate compliance risks evaluations
