Contract Management Services

The process of managing contract creation, execution and analysis to maximize operational and financial performance at an organization, all while decreasing risk is the core of ACTS’ Contract Management Accelerator. Organizations come across a rapidly increasing amount of pressure to lessen costs and increase company performance. Hence, our Contract Management Accelerator facilitates the need for an effective and automated contract management system.

 

Contract_Management

 

Administrative activities related with contract handling are as follows:

  • Invitation to bid
  • Evaluation of bid
  • Award of contract
  • Implementation of contract
  • Measurement of work completed
  • Calculation of payments

 

Checking contract relationship, integrating necessary changes or revisions in the contract, addressing related problems, confirming both parties meet or surpass each other’s expectations and actively interacting with the contractor to reach the contract’s objective(s) are also included.

ACTS automated solution includes the following capabilities:

  • Checklist Tracking of Contract Supporting Documents
  • Contract Form Workflow to Document Assembly
  • Screen Scrape Integration for Documents to Vendor Screen
  • Role Based Security
  • Checklist Workflow to assure Compliance
  • Co-Authoring Capability for Contracts
  • Support for Collaboration for Purchasing and Legal Departments
  • Integration with Banking Lockbox Services using Flat File
  • Integrate with any LOB System – Web Services, DB, Flat File
  • PDF Creation at the end of the Document Assembly Process
  • Special Circumstance Handling
  • Retention and Disposition for Records Management
  • Flexible Approval Matrix and Delegation Capabilities
  • Contract Management Document Lifecycle Workflow
  • Rich Search Capabilities

 

The ACTS Contract Management (CM) Solution Accelerator

ACTS can help you integrate with an automated contract management service that will undoubtedly help your organization free up countless man hours and automate processes associated with managing a contract, thus creating more value for your company.
ACTS provides these features as part of the end-to-end contract management functionality:

  • Modification or Addition to an active contract
  • Advanced Contract Search Engine
  • Search of Contract in the Contract Repository
  • Import of scanned old agreement
  • Renewal of existing contract
  • Import scanned signed agreement
  • Attachments of contract
  • Integration of email
  • Agreement security
  • Contract Management along with contract template
  • Vendor Management along with vendor template
  • User Role & User Management
  • Classification Management

 

About ACTS Contract Management Solution Accelerator

Contract management is high on executive agendas with the inauguration of Sarbanes Oxley, and State Lawsuits surrounding agent commissions and provider payments. Moreover, companies are trying to move from a paper intensive process to an electronic paperless process.

ACTS Contract Management technology platform delivers the ability for companies to work collaboratively and more efficiently to manage these contracts. This platform provides enterprise wide contract management features that support tasks that are critical to business such as efficiency, compliance and risk management.