Contract Management
https://www.medius.com/solutions/medius-contract-management/
Visibility and control of all your contracts with Medius Contract Management
Digitize contractual agreements and access them anywhere, anytime in our cloud-based contract automation software. Avoid costly unwanted renewals, and ensure that terms and conditions are adhered to with an online contacts repository.
Why Medius Contract Management?
Create contracts with ease
Quickly create and edit any type of contract with flexible pre-configured templates. You can attach key information such as financials or risk assessments, helping to contextualize agreements.
Sophisticated reporting
Real-time reporting at your fingertips gives you the data and power to manage contract negotiations at ease. Advanced search allows you to track down contracts and terms in seconds.
Never miss a renewal
Automated alerts help you remember renewals, ensuring you never miss an opportunity to negotiate with your suppliers.
Unmanaged contracts, lengthy and expensive processes deplete money and resources
Common challenges you face
- Contracts are dispersed and siloed
- Manual process to create and review contracts
- Lack of audit trail during negotiation, approvals, and amendments
- Manual process to track renewals and performance
Risks of not having a solution in place
- No version control and limited security
- Lengthy negotiation process with back and forth red-lining
- Risk of non-compliance throughout contract
- Inability to understand obligations such as automatic renewals, review cycles and key metrics
Rewards of Medius Contract Management
- A reduction in time required to find a contract by 52%*
- Eliminate paper-based contracts
- Trimming the number of lapsed contracts by 39%*
- Increasing the use of standard terms and conditions ensures compliance*
*Source: Raising the World-Class Bar in Procurement Through Digital Transformation, The Hackett Group 2018
Learn more about Medius Contact Management.
