A Contract Management System not only stores contracts in electronic format but also manages all the stages involved prior to selecting and appointing a supplier of goods or services.
Every organisation which plans to invest in a Contract Management System will agree a set of rules or steps which are to be followed by all users of the system to ensure conformity and also to make sure that no important stages are missed out in the contract process. Using workflow, these rules will then be enforced guiding users seamlessly through all the relevant actions from the initial invitation to quote for the provision of goods or services through to the appointment of the successful supplier.
Quotes from unsuccessful companies will also be retained for future reference together with any comments which could prove useful at some point in the future, particularly when the contract is due to be renewed.
The task of scanning all current paper based contracts into the system need not be daunting as it can be outsourced to a document scanning bureau. Some companies, such as The IPC Group, can supply both a contracts management system and a document scanning service. This would certainly be the preferred option as the system would be ready to use from the moment it was installed.
For further information on a Contracts Management System please click here or call The IPC Group on 08081 45 46 47.