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It
provides post implementation activities of the contract lifecycle
management process beginning at contract execution through contract
maintenance. The solution facilitates capturing key contract data, terms
and conditions, specific clauses, performance metrics and penalties. It
interfaces with existing contract database, and authoring tools. It
maintain a library and set of templates. The solution has the analytical
and reporting capabilities to ensure compliance with the various terms and
conditions of the contract. It maintains s reference between originating
contract and the new, amended, renewal and extension, thus providing
ability to inherit metrics from previous contracts. The system also
provides the ability to track scope and deliverable changes to a contract.
Contract administrators can choose measurable items from Service Level
Agreements and Contracts, such as levels of availability; serviceability
and performance such as fill rates. It can monitor pricing agreements
within a Contract for goods and services and report on variance. The
solution has the ability to schedule monitoring sessions through meeting
notices, upload meeting minutes and action items for monitoring/feedback
sessions, the ability to raise and resolve issues with vendors, document
and address vendor disputes and devise/setup a vendor performance
improvement plan, and ability to build, deploy and analyze surveys for
contract and vendor performance across contracts. It allows for
inheritance within referencing contracts such as insurance certificates
and solicitation data across all contracts. It facilitates comparing
clauses, terms and conditions across contracts.
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