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Right On Track

contract management system

Procurement goals don’t achieve themselves – Here’s how Accord is helping organisations hit theirs.

Already set your 2017 procurement goals? Well, once you have (like finally not missing that contract expiry), you need the tools to help you get there. Accord – a contract management system and supplier relationship manager – understands how the right piece of software can transform your January ambitions into success. “We are determined to get organisations the procurement results they desire – and let them add value back in to the business,” says Business Development Manager, James Cole. In order to do so, organisations need to look towards technology that is offering more than a simple spreadsheet. “Understanding how software solutions can transform overwhelming data from a spreadsheet into visible activities and reports means organisations can finally gain the control, compliance and savings they long for,” he says. What’s helping organisations up their procurement game? Let’s break it down.

Contracts Control

Missing information and duplicated numbers can be a nightmare during your procurement process. With Accord you can ensure nothing gets missed – providing one version of the truth, the contract management system will store all the information you need in a Register of Contracts. “Getting your contracts data and documents together in one place for improved visibility will improve a procurement team’s decision making,” he says. Accord’s centralised register of contracts enables collaborative working; helping organisations manage current, unawarded and historic contracts. “Collaboratively working reduces errors and improve everyone’s visibility of the process throughout, helping reduce chase up times and generating longer supplier negotiations,” says James. Need an audit trail? No problem – Accord enables you to forge links to departments and suppliers so you can see the contract life cycle right at your finger-tips.

Take Action

It is less hassle to stay put than make a change, but failing to review your supplier agreements could potentially make you miss out on a more competitive deal. Accord allows you to alert you or a colleague or a manager, to make sure that nothing gets missed – send an email or SMS message and alert a team to matters which require urgent attention. Clever, right? “Organisations can have hundreds of contracts in place that can easily be ignored or forgotten about but with the lack of an efficient and effective process, auto-renewing can become a real issue and contracts can be locked for another year creating unintentional spend,” says James.

Compliance Matters

With more and more compliance requirements being placed on organisations, James knows businesses are looking for a tool that can provide instant control and visibility that doesn’t seem to exist out on the market. With Accord, procurement teams can upload relevant documents to each stage of a contract and keep track on its performance and labour hours with an automated tender metric. The contract management system aids organisations by recording and managing contracts and supplier information, audit results, insurance certificates and more… “Organisations shouldn’t be risking being non-compliant,” says James. “Compliance in your procurement process will ensure nothing slips under the cracks, that will resurface later to pull you back from reaching your procurement goals. Accord is making sure you keep on track.” he adds.