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Generally contract management is a mammoth, time consuming task that requires fundamental knowledge of each clause and attribute of each contract, as well as access to any relating documentation and information.

To effectively administer and manage your contracts, efficient time management is key but before you create your plan of action you need to know and review all the facts.

A few simple actions will help you maximise the time you spend on each contract, giving you clear visibility of contracts and goals you can achieve. Read more >>

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Feature of the Quarter:
Online invoice reconciliation

It has been reported that around 15% of supplier invoices are inaccurate.

With framework's quick on-line verification, you can easily check a received invoice against the forecasted spend amount, ensuring that invoices are accurate prior to payment and they are based on what is contractually agreed.

Budget Forecasting
It is invaluable for every organisation to be able to forecast what the future expenditure is likely to be in any given area of the business.

framework creates forecasting spend schedules for each contract, each amount being accurate to the contracted payment terms.

framework's flexible management reporting allows accurate business intelligence and spend forecasting.

Monitor Savings
Rationalising suppliers and renegotiating contracts can yield significant savings and reduce year on year costs.

framework logs the savings you have made from renegotiations. Reviewing these logged savings can help to justify future spend and enable proactive decision making.

Document Management
Documentation relating to the contract, supplier or product can be attached to framework ensuring all details can be referenced immediately.

When a file is attached in framework, it is uploaded and stored in a secure location. Types of attachments you could upload include scanned contracts, quotes and meeting notes.

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Ask the Expert?

With the success of our Ask The Expert webinar back in December, hosted by Andy Cay from State of Flux, we plan to host similar events. However, in order to make these events tailored for you we need to know what you would like to learn more about.

Please email tracey.turton@software-europe.co.uk and let her know which industries and areas you would like future experts to speak from.

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Visit www.framework-software.com for more information about the leading contract and supplier management solution