Much of the hard work in delivering procurement savings goes into getting the right contracts in place with your suppliers. But negotiating the terms, prices and service levels is one thing. Being able to regularly monitor, review and mitigate any problems that arise is another.
Often contracts are filed and forgotten, leading to a lack of oversight — missed contract reviews, renewals, and other important events in the contract life cycle. What if your contract management software could take care of that for you? Automatically. Without fail.
Using GEP SMARTTM, you can set up a series of customized alerts and notifications for every contract, each designed for a specific purpose. There are no default “system” alerts that end up spamming your inbox. You can define the alerts each contract will send, to whom, and with what messages. That way, the contract tells you what needs to happen at precisely the right time. For example, every quarter, a contract can alert your operational buyers and the supplier that a periodic contract review is due. As the contract nears the end of its term, you can receive reminders to restart the sourcing process.
Whatever the milestone, GEP SMART can help you send the right message, to the right people, at the right time.