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EC Contracts

PROACTIVE CONTRACT MANAGEMENT

Increase visibility to contract data that procurement and sourcing leaders need to make better decisions

EC eSourcing Solution
As a strategic sourcing and procurement professional the digitization of your contract documents, financial terms, service levels, and other insights are important across multiple stages of your spend analysis process flow, strategic sourcing workstreams, category management activities, and supplier management tasks. You may be currently evaluating solutions for an upcoming contract management RFP.
It’s likely that your organization doesn’t have just one uniform contract template it uses for every vendor and supplier it partners with.
One of the more important capabilities of any contract management system regarding its impact to the business is how it adapts to evolving and ever-changing business needs. One of the most important adaptations centers on risk. Failing to manage risk jeopardizes compliance, profitability, and, ultimately, the future success of the organization. At the heart of supplier risk management is the process of methodically and efficiently managing corporate contracts and their multiple components and terms within, A progressive contract management solution should be flexible to support these adaptations as well as some of the other capabilities outlined below.

Contracts solutions for & by practitioners like you

Capabilities Snapshot:

  • Custom configurations to improve speed to insights and more rapid access to contract data
  • Dynamic contract repository with data dimensions that can be queried and analyzed
  • Full visibility to desired contact data based on role and approval levels administered across the organization
  • Communication flexibility via SaaS protocols used by the world’s most highly classified and regulated industries
  • Digitize and automate all workflow related steps for contracts such as approvals and routing across the organization by embedding EC Workflow’s process management tools et.
  • Enable contract compliance and insights monitoring via integrated reports and dashboards
  • Drive insights to inform your supplier management and cost optimization strategy such as payment terms, rebate status, diversity performance, volume discounts, etc.
  • Establish alerts and triggers for key actions on contracts across varying stakeholders
  • Simplify the process for vendor partners that wish to promote value-added services or innovative ways to improve your value & cost structure
  • Seamless transition to other EC Sourcing Group solutions or leverage our open API to integrate with your existing financial, procurement, and supply chain tools.
EC eSourcing Overview Video

Our teams have experience in the RFP trenches and partner with sourcing leaders to accelerate the impact of digital & procurement transformation initiatives – all while improving results and supplier performance

Meet Our Team
Client Results

Improving sourcing results, supplier engagement, and procurement ROI with client-driven enhancements

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Excel-friendly upload/download the majority of project content
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Numerous types and unlimited template possibilities for rapid and efficient re-use
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Supplier input controls – receive desired content in preferred formats
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Open API allows for turn-key integration with all other data systems
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Automated reminders to ensure suppliers stay on track
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Rich specification management – upload thousands in just a single zip file
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Optional gating for confidentiality & managing Ts and Cs up front
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Artificial Intelligence (AI) & Machine Learning (Text Analysis & Navigation)

Solutions that help procurement & sourcing teams…

Expansion
Expand value rapidly to new departments and categories
Shorten Time
Shorten traditional RFx & sourcing cycle times by 40-60%
Savings
Drive average annual savings improvements of 15-30%
Insights
Generate actionable insights & transfer more knowledge
Increase
Increase influence & spend under management by 20-40%
Process
Align more effectively & securely across data systems & stakeholders

Discover how leading procurement organizations leverage our solutions and team as an extension of their own to optimize value & results

Case Studies  

EC Contracts is our contract visibility and management module. Our contract system helps ensure contract obligations are met on time with proactive alerts, and tracking of key dates, events, commitments, fee schedules, and payments.

EC Contracts is continually enhanced to align with the emerging needs of sourcing and procurement professionals like you. Our solutions comply with industry best practices in terms of data security, regulatory compliance, and SaaS-specific deployments for Global Supply Chain, Sourcing, Procurement, Purchasing, and Finance professionals across virtually all industry segments.

RECENT SOLUTION BENCHMARKS 
EC eSourcing Charts

Experience dynamic technology that helps put an end to…

Impossible–to–find project data you’ve used previously
Internal audits that are painful because of lack of documentation
High costs due to data integrity & integration challenges
Stakeholder & supplier frustration with the tools or process
EC eSourcing Statistics

Are You Faced with These Contract Visibility & Management Challenges?

Does your team have difficulty finding, updating, and maintaining contract information? Is obtaining contracts and all contractual-related documents cumbersome and time consuming today? Do some contracts you have auto-renew without enough notice and include price increases that were unacknowledged? Does your current solution not provide proactive alerts, tracking of key dates, expected fees and payments-related to specific contracts?

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AUTOMATE & DIGITIZE ANY PROCESS AND WORKFLOW

Digitize and Automate Key Tasks, Approvals, and Project Steps with EC Workflow

Does your current contract management process include specific tasks and approvals with various stakeholders across the organization like procurement, finance, sales, and legal? With email intrusion topping the list of one of the most critical cyber security threats do you really want to trust keeping your supplier, sourcing, and contractual communications over email?

EC Workflow enables digital transformation of workflows, including communications, process steps, and approval tasks across any number of project areas. Our clients enable workflows across a multitude of areas but below are the most frequent processes considered.

EC WORKFLOW IS LEVERAGED FOR SIMPLE “CLICK HERE WHEN YOU NEED PROCUREMENT” TO APPROVAL FLOWS THAT INCLUDE 15+ STEPS & INVOLVE 5+ DEPARTMENTS.

EC Sourcing Group’s configurable solutions are flexible and currently serve the workflow needs of many different types of organizations. Retailers, food companies, healthcare organizations, education organizations, manufacturers, financial & investment companies, technology organizations, and select government contractors leverage our solutions for their needs.

EXECUTIVE DASHBOARD’S & REPORTING OF WORKFLOWS ALONG WITH DEPARTMENT KPIs CAN BE ENABLED via EC INSIGHTS.

The output of the spend analysis process should hopefully allow you to develop a high-level plan to capture improved pricing along with consistent or better service levels from your suppliers.

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Featured Resources

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MOST RECENT BENCHMARKING REPORT

EC Sourcing Group ranks as a ‘Value’ & ‘Customer’ Leader in Latest eSourcing Benchmarking Study

eSourcing Results & Methodology Review
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E-Book Series: Procurement Stakeholder Alignment
Digital-related transformation projects have marched up the priority list with a marked increase in departments looking to leverage advancements in technology to accelerate value.
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