The final posting in our Contract Management best practices series...

 

Data and Process Integration

Base Line

Contracts solution is stand alone.

Advanced

Share contract base data (suppliers, users, categories, etc.) with other third party systems.  Compliance and comparison performed via reporting.

Best In Class

Data and processes in contracts solution integrated with other third party systems including base data, sourcing, procurement, compliance, payment, sales request, etc.)

 

Types of Contracts Electronically Supported and Managed

Base Line

No electronic contract solution for any type of contract.

Advanced

Electronic contract system for at least one type of contract.

Best In Class

Electronic contract system for all organizational contracts.

 

Invoices for Goods/Services Covered in Contracts

Base Line

Paper invoices are manually created and mailed

Advanced

Some invoices are created electronically from the contract to reduce errors / double entry.

Best In Class

Many / most invoices are created from contract by suppliers / customers and electronically sent for auto matching to the contract prior to payment.