• Requirement to procure goods and/or services
  
  
• Enabling suppliers to review your opportunities online
  
  
• Enabling supplier communities to collaborate to deliver the best proposal/offering to you
  
  
• Interactivity with suppliers during the request for proposal process

Summary Features

• Ability to manage any type of procurement activity
  
  
• Collaborative RFX (RFP, RFQ, RFI, etc.) development
  
  
• Ability to incorporate the company's procurement policies, process and business rules
  
  
• Ability for suppliers to review and respond to opportunities online
  
  
• Process and event management, including notifications
  
  
• Collaborative review and scoring of vendor submissions
  
  
• Integration with UpsideContract for seamless transition from proposal acceptance to contract creation, award and delivery management.

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• Ensuring contract terms agreed to with customers and suppliers are being monitored and reported on
  
  
• Performance and compliance objectives with customers and suppliers are being adhered to and proactively managed, improving relations with both customers and suppliers
  
  
• Relations with Advertising suppliers, Customers and Brokers are maintained and managed through a central cohesive solution
  
  
• Discount structures and volume controls are being adhered to for pricing
  
  
• Suppliers are being monitored from a quality and price perspective, ensuring best buying practices are being followed
  
  
• Customer contracts are being monitored for renewals, potentials for increased ad buying/selling
  
  
• Tracking of flow-through billing and expenses are being handled accurately
  
  
• Reporting of budgets, forecasts and actuals are taking into consideration all the various elements and contracts in place
  
  
• Project activities are effectively assigned and tracked

Summary Features

• Creation of controlled templates/exhibits with sections that can allow for flexibility, including full control of approval workflow and routing based on business conditions
  
  
• Full end-to-end solution allowing for creation to renewal of contracts and everything in between (one integrated solution offering everything you need to manage contracts)
  
  
• Flexible rules engine allows for configuration of complex business processes, policies and rules (end-user managed process via a graphical interface) 
  
  
• Integrates to UpsideBilling to ensure invoices inbound as well as outbound are matching the buying/selling thresholds, discounts are being correctly applied and rates for buying/selling are being adhered to
  
  
• Company specific user defined fields can be added to the system dynamically (by authorized end-users) so that specific information can be tracked and validated  

Key Facts

• Aberdeen Research has found that ineffective control and management of supplier contracts cost businesses $153 billion per year in missed savings opportunities.
  
  
• Goldman Sachs report entitled "Time To Manage Those Contracts!" states, "agreement terms have become more sophisticated to include items such as rebates and chargebacks, as well as conditional agreements. It has become increasingly common for contracts to encompass thousands of products, prices, incentives, compliance levels and other variables."
  
  
• Goldman Sachs estimates that companies incur between $25 billion and $30 billion in hard costs every year from managing their contracts
  
  
• National Association of Purchasing Management (NAPM) has reported that the average Fortune 1000 company actually has between 20,000 and 40,000 suppliers
  
  
• Estimates are that about 80 percent of B2B purchases involve some sort of contract, and that makes for a great deal of "paper" floating back and forth between buyers and suppliers
  
  
• "Contract management is the proverbial area where the buy side meets the sell side," says Pierre Mitchell, analyst AMR Research. "That's where the relationship comes together and gets instantiated. It's not just legal terms and conditions that show up in a written contract. It's really all the performance measures surrounding the relationship that you have with the supplier or the customer."
  
  
• Goldman Sachs cautions that the ROI likely will vary by industry, but suggests that contract automation could accelerate negotiation cycles by 50 percent, reduce erroneous payments by 75 to 90 percent, cut operating and processing costs associated with managing contracts by 10 to 30 percent, and result in a 10 to 20 percent headcount reduction.
  
  
• Goldman Sachs has estimated that the market for contract management software could reach $3.1 billion by 2005; Credit Suisse First Boston's technology group has pegged the market at $3 billion to $5 billion by 2006

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• Ensuring contract terms agreed to with customers and suppliers are being monitored and reported on
  
  
• Performance and compliance objectives with customers and suppliers are being adhered to and proactively managed, improving relations with both customers and suppliers
  
  
• Relations with Advertising suppliers, Customers and Brokers are maintained and managed through a central cohesive solution
  
  
• Discount structures and volume controls are being adhered to for pricing
  
  
• Suppliers are being monitored from a quality and price perspective, ensuring best buying practices are being followed
  
  
• Customer contracts are being monitored for renewals, potentials for increased ad buying/selling
  
  
• Tracking of flow-through billing and expenses are being handled accurately
  
  
• Reporting of budgets, forecasts and actuals are taking into consideration all the various elements and contracts in place
  
  
• Project activities are effectively assigned and tracked

Summary Features

• Creation of controlled templates/exhibits with sections that can allow for flexibility, including full control of approval workflow and routing based on business conditions
  
  
• Full end-to-end solution allowing for creation to renewal of contracts and everything in between (one integrated solution offering everything you need to manage contracts)
  
  
• Flexible rules engine allows for configuration of complex business processes, policies and rules (end-user managed process via a graphical interface)
  
   
• Integrates to UpsideBilling to ensure invoices inbound as well as outbound are matching the buying/selling thresholds, discounts are being correctly applied and rates for buying/selling are being adhered to
  
  
• Company specific user defined fields can be added to the system dynamically (by authorized end-users) so that specific information can be tracked and validated  

Click here to learn more.

• Need to handle all incoming billing including Administrative and Purchases of goods/services
  
  
• Enabling suppliers to submit billing electronically or on-line
  
  
• Interactivity with suppliers, enabling on-line dispute resolution and payment status inquiry
  
  
• Tracking actual media coverage delivered and ensuring invoice/bills are as per contracts executed (factoring discount levels, thresholds, etc.)
  
  
• Automated creation and/or QA of customer invoices based on contracts and contracted activities

Summary Features

• Flexible rules engine allows bill recipients to configure notification based on number of elements including bill testing (e.g. verify totals against last month's bill, and if within 10% do not notify me, etc.)
  
  
• Ability to incorporate the company's policies and procedures related to accounts payable processing including approval workflow (e.g. bills over $1M must go to CFO for approval, etc.)
  
  
• Ability to accept billing in a number of formats including XML, OFX/IFX, Flat file, Excel, etc.
  
  
• Integrates to your existing billing systems and other back-end systems
  
  
• Company specific user defined fields can be added to the system dynamically (by authorized end-users) so that specific information can be tracked and validated
  
  
• Integrates to UpsideContract to ensure incoming bills are compliant with rates, discounts, terms and conditions set with the suppliers and/or partners