Solution for Managing Multi-Year Vendor Agreements

  • Solution for Managing Multi-Year Vendor Agreements

    Posted by Stephen Kieper on September 18, 2023 at 11:39 am

    Our company is in the service line of work for medical facilities. Sometimes we utilize a third-party to complete services. We currently have around 1,000 multi-year vendor agreements for these third-party companies. We are currently managing these agreements outside of the D365 F&O system and are looking to either integrate these vendor agreements with D365 F&O or find a third-party solution for managing the agreements.

    Example Scenario 1: We pay a third-party vendor to treat for insects in a hospital or medical office building. In this scenario, the contract with the third-party vendor is $36,000 for a three-year contract. We pay $1,000 a month to the vendor and must track these payments.

    Example Scenario 2: We pay an elevator company to complete maintenance on elevators in a hospital. We pay $24,000 up front for a year and need to amortize $2,000 for each month for the year.

    Does anyone manage third-party multi-year vendor agreements in D365 F&O?

    Does anyone utilize an ISV to manage third-party multi-year vendor agreements? If so, which one?

    Crystal Ahrens replied 10 months ago 2 Members · 1 Reply
  • 1 Reply
  • Crystal Ahrens

    Organizer
    September 18, 2023 at 3:23 pm
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    If you asking Can D365FO support Can a Company manage 1,000 multi-year vendor agreements for third-party companies in D365FO OOB? The answer is yes. 365FO provides built-in functionality to manage vendor agreements, including support for multi-year contracts. You can use the vendor agreements feature to set up agreements with vendors, track committed amounts, manage purchase order revisions, and reconcile invoices. The system also offers workflow capabilities to help manage the approval process and ensure compliance with internal policies and regulatory. But your needs are challenging.

    you might want to look into an ISV

    1. Procurify (https://www.procurify.com/): Procurify offers a robust Spend Management system that seamlessly integrates with D365FO. It provides features like real-time budget tracking, centralized purchasing, and comprehensive spend analytics.
    2. VendorLink (https://www.vendorlink.nl/en/): VendorLink offers a cloud-based Vendor Management System that can integrate with D365FO. Its features include risk management, contract management, and performance tracking.
    3. Experlogix CPQ (https://www.experlogix.com/): Experlogix provides a Configure, Price, Quote (CPQ) solution that can enhance D365FO’s capabilities. It simplifies complex product configurations, speeding up the quoting process and ensuring accuracy.
    4. Zycus iContract (https://www.zycus.com/contract-management/): Zycus offers a comprehensive contract lifecycle management solution. Its features include contract authoring, compliance tracking, and a centralized contract repository.

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