Contract Management System

For businesses seeking to effectively manage the creation, review, and approval of business contracts, Vuram offers the 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.  Contract approvals often involve multiple departmental stakeholders and are frequently executed using tedious and manual communication methods. Even with the use of third-party document management systems for signature capture, key metadata related to contract negotiation can often be lost to an organization without a complete system in place. 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.

Key Features:

• A single view of all contracts and contract metadata within an organization, including dependent relationships between master and sub-master contract types.  This establishes a common repository of contract data to serve as the system of record for in-process and executed contracts.
• Built-in and configurable workflows for contract creation, approval, execution, and termination.
• Ability to customize approval sequences and approval groups in a consolidated Manual of Approval, precisely ensuring the right combination of teams and sequence for each contract type to ensure efficient workflow management.
• Document management at the contract or subcontract level to allow supporting documents to be uploaded at any stage of the contract execution process.
• Management of contract header attributes including multiple contacts of related parties, contact data, contract type, and contract value.
• Management of key contract dates and provides ongoing reporting on critical milestone dates related to renewal and termination.
• Ability to establish email update membership lists for each contract to inform key stakeholders of key milestone events without requiring system login.
• Mobile-enabled application to facilitate approvals to be captured anywhere and anytime.

The latest version of the App offers:

• Ability to modify signatories in the workflow while a contract is in progress.
• Improved UI that provides an enhanced presentation of contract information and improved error handling.
• Now available in both English and Dutch languages.