Home / Solution Overview
Solution Overview
Executives require a contract management solution specifically designed to cope with their mounting challenges: evolving compliance requirements, supplier consolidation, employee retention and turnover and the imperative to cut costs. Organizations that lack control over their contracts may be overspending needlessly. They often make payments on expired contracts, incur late fees, and miss opportunities to renegotiate or terminate service contracts or act on equipment lease buyouts.
TractManager's contract management solution provides significant opportunities to reduce or avoid costs as a normal course of business.
A Strategic Solution
- Empowers staff with direct, real-time access to all electronically stored contracts and other business-critical documents for immediate visibility
- Maintains schedule of all contractual obligations for financing transactions, reducing the cost of auditing
- Alerts to opportunities to renegotiate annual service contracts, preventing payments on expired contracts
- Minimizes the effect of employee turnover with automated processes
- Tracks terms of employment agreements and real estate leases to make timely CPI adjustments
- Creates custom reports of contract information and costs
- Tracks equipment lease buyouts, monitors warranty requirements and maintains current vendors Certificates of Insurance
- Monitors contract compliance, requirements and language
- Initiates and tracks the contract negotiation and approval processe
A Turnkey Solution
As part of our solution, TractManager delivers services that complement our contract management software. Our knowledgeable consultants work with you to select the right integrated contract management offerings that precisely fit your organization's unique needs. Then we provide all the labor necessary to scan, build, maintain and update your organization's contract files. We use our patented process to build your customized and centralized contract and document database.
A Secure Solution
The web-based solution is accessible via a secure online connection, enabling your organization to simultaneously share one source of information across thousands of employees in various locations. Extensive levels of user security make database information accessible only to those employees authorized to view specific contract files.