- Procurement Contract Management
8MSaaS Procurement Contract can be used to capture the terms and conditions of a complex procurement and the acceptance of the deliveries that must be in line with these terms and conditions.
8MSaaS Procurement Contract can be used in a simple way which is similar to using 8MSaaS Purchase Order to acquire consumer products. However, 8MSaaS Procurement Contract can also be opened up and used for complex procurements with complex terms and conditions and complex deliveries over time that 8MSaaS PO isn’t equipped to handle.
8MSaaS Procurement Contract can support any combination of the followings:
- Master contract and subcontracts
- Project and milestone base deliveries and acceptance
- Procurement connecting to sales
- Quality level agreement and penalties
- Contract accounting & settlement
- Amendment and renewal management
8MSaaS Procurement Contract allows you to only go to one place in the system to view and manage your entire important deal as a project and control its resources, activities, acquisitions and deliveries according to its terms and conditions so that the fulfillment deliveries are always in line with the contractual terms.
- Master Contract and Subcontracts
8MSaaS Procurement Contract supports the following master-sub model:
Agreeing the following in master contract:
- Effective period
- Prices for each product or service according to its cumulative quantity ranges to be acquired
- Quality or service levels and penalties
- Range of delivery methods
Agreeing the following in each subsequent subcontract:
- Exact quantity of each product or service to be acquired
- Exact delivery schedules and methods
8MSaaS Procurement Contract supports the settlement to be done in each subcontract or finally in the master contract.
- Project & Milestone Base Delivery & Acceptance
8MSaaS Procurement Contract supports project and milestone based deliveries and acceptance for products and services such as plant construction, infrastructure reengineering, software development, ITO/BPO, technology transfer and organization transformation.
8MSaaS Procurement Contract allows a set of delivery milestones to be in 1 or more projects linked to it. In the contract level, the user can view and manage all resources, activities, dependencies, deliverables and milestones of the project(s) under it. Budgets are automatically allocated from contract to each project once the contract is approved and accrued and actual expenses are automatically aggregated up in real-time from each project to the contract.
8MSaaS Procurement Contract allows the user to view and manage the schedules, resources, activities, costs and derivations of the complex deliveries and acceptance in real-time.
- Procurement Connecting to Sales
8MSaaS Procurement Contract supports massive procurement and/or project base procurement connecting to sales. 8MSaaS Procurement Contract can capture the sales information and create the strong real-time linkages between the deliveries and acceptance of the products and services that your suppliers/vendors delivering to you and the deliveries and acceptance of the products and service that you will need to deliver to your client. The changes from the sales and their impacts such as the need for procurement adjustment and increase/decrease of profit and loss would be automatically reflected in 8MSaaS Procurement Contract in real-time.
- Quality Level Agreement & Penalty
8MSaaS Procurement Contract supports the establishment, automatic tracking and penalty calculation of the quality level agreement for acquiring products and services.
8MSaaS Procurement Contract allows the user to set the metrics in each deliverable against the quality level agreement. During contract execution, 8MSaaS Procurement Contract would detect delivery deviations from the quality level agreement and trigger deviation alerts and penalty calculations and notifications.
- Contract Accounting & Settlement
8MSaaS Procurement Contract supports contract and project budgeting & expending, settlement, receiving invoices and issuing payments. The contract and project budget and expense data are linked in real-time and the Contract Cost Dashboard is provided for the user to view contract and project budget and expense information simultaneously.
8MSaaS Procurement Contract records and tracks the approval and payment for each invoice sent by the supplier or vendor. It allows a payment is issued for multiple invoices and/or a partial payment is issued to an invoice. 8MSaaS Procurement Contract also keeps track of fixed assets acquired for the contract and automatically depreciates their book values according to their presetting for amortization and depreciation.
- Amendment & Renewal Management
8MSaaS Procurement Contract allows amendment to the approved contract, keeps track of all versions of the contract and manages the re-approval of the new version of the contract.
8MSaaS Procurement Contract supports presetting of renewal cycle and renewal price adjustment and it will send alerts to the relevant users prior to the contract expiration date. It also provides the Renewal Dashboard so that the procurement personnel can easily view all upcoming needed renewals. 8MSaaS Procurement Contract can also support the automatic generation of the new contract based on the renewal presetting.