Posted on 6th April 2014

Thought Leadership

How Do You Shape Up Your Suppliers To Negotiate Better Contracts?

Supplier Relationship Management is an important aspect to contract management and success in procurement and purchasing. If you haven’t got control of your suppliers and your contracts data, you really need to get a system that can help with that.

As a business, you will be collecting large amounts of supplier data from contracts, projects and interactions. Managing your supplier data correctly with an effective and efficient contract management system can reveal valuable insights for your organisation and enable procurement to operate a more collaborative approach as well as help develop key relationships.

By using a contract management system that has supplier onboarding functionality, organisations will be able to work more efficiently and compliantly as well as make more informed decisions about their contracts.

Organisations using our Supplier Portal module with our Contract Management System, Accord are reducing the time required to process and manage suppliers; saving time and money and freeing up resources to focus on generating quality services.

An efficient and effective supplier relationship management process will help your organisation improve how you control, manage and ‘shape up’ your suppliers; with an instant view of your supply chain so you can identify any risk, cost savings and value for money initiatives so you can negotiate better contracts.

The supplier portal helps your business with the supplier onboarding process; recording and managing contracts and supplier information, audit results, performance ratings, NCR’s, CAR’s certifications and more. A secure login for your organisations supplier allows them to…

  • See all the contracts they have in place with you.
  • Manage their own insurance and compliance.
  • Be easily notified of non-conformances.
  • Address any non-conformances to improve KPI’s.
  • Complete online questionnaires.
  • Work more closely with procurement and purchasing departments.

Businesses have a wealth of data on their supplier at their disposal but sometimes lack the control needed to really reap the benefits like negotiating better contracts. Digital innovations are providing a variety of solutions for business to drive real value and results; Our Accord Contract Management System don’t just stop at contracts management, by working closely with our existing clients we’ve made it possible to gain more insights into your data than ever before. We can quantify, measure and track every interaction, transaction and engagement in excruciating detail.

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Learn more from our team and how innovative contracts management can empower your business.