The process of creating a legally binding agreement that all relevant parties have signed is known as contract creation. A contract request starts this process, which then progresses through creation, negotiations, approval, signatures, and signing. A contract is drafted with all relevant terms, clauses, party information, dates, important milestones, etc. It is crucial that the information in the contract is accurate.
Reuse Terms, Reduce Effort, Avoid Errors
The ProcurePulse Contract Management system contains a database of terms appropriate for buying different kinds of products and services.
Stakeholders can select appropriate ones to put together a contract. They can create new terms as well. The repository will be updated with the latest ones. The approval panel can collaborate and approve the contract in
ProcurePulse.
The approved contract can be posted in the ProcurePulse Vendor Portal. The agreement will be signed once thevendors give their consent.
ProcurePulse Contract Management
In ProcurePulse, the approval panel can be configured dynamically.
Stakeholders can then collaborate to ensure the contract is suiting the business requirements. The panel can then approve the contract that is to be executed.
Additionally ProcurePulse supports category based purchases that can be mapped to different departments or locations as per your approval hierarchy. Categories can be used to configure dynamic approvals.
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