Contract Management System

The Vuram Contract Management System is for companies that frequently manage contracts with suppliers and customers, and seek to establish best practice process and performance metrics. The straightforward interface and intuitive design features of the Vuram Contract Management system provide a useful control environment to review and finalize contracts with suppliers and customers. It provides a single view of all contracts and contract metadata within an organization, including dependent relationships between master, sub-master contract, and amendment types. This establishes a common repository of contract data to serve as the system of record for in-process and executed contracts.

Key Features:

• Efficient Workflow Management:
  • With configurable workflows, effortlessly create multiple approval groups for any contract type.
  • Handle end-to-end contract life cycle including execution, negotiation, and termination.
• Speedy contract creation:
  • Create contracts for any external party and manage the point of contact at ease.
  • Pick a contract type, select the required approval flow, and assign signatories.
  • Use any available template, fill variables, if any, and generate contract documents in no time.
• Clause and Template Management:
  • Add terms and clauses to the templates and handle different versions of terms and clauses.
  • Add parameters to clauses, sections, and templates and generate values dynamically during contract creation.
  • Easily refer to the dependent templates and sections for any selected clause and understand impacts, if any.
• Subcontracts and Amendments:
  • Create and manage both value-based and no-cost contracts.
  • Seamlessly create subcontracts and amendments for any active contracts through customizable approval flow.
• Centralized Document Storage:
  • Create multiple contracts for customers or external parties and store different versions in the dedicated folders for each customer.
• Track contract versions:
  • Compare any two versions of the contract document and track the changes easily.
• Auto notifications:
  • Any change made to the clauses and terms gets auto-updated in the templates. And template and section owners get notified.
  • Configure contract-specific notifications and reminders to avoid late contract renewals.
• Statistical reports:
  • Get detailed reports on contract status, different contract types, date of expiry, and department-level insights.
• Multilingual Support:
  • The application supports Spanish, Dutch, and English, and it is compatible with mobile phones, tablets, and desktops.
• Hassle-free Approvals:
  • Edit, comment, or red line in the contract document during approvals and negotiation. Signatories can e-sign the contract documents.