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Introducing Contracts: a new way to centralize SaaS and non-SaaS agreements in Vendr

SaaS Stack Management

Vendr News

Meet Contracts - a lifecycle management solution to streamline your SaaS and non-SaaS contract management process and ensure compliance and transparency.

Written by
Nitin Puri
Published on
January 19, 2023
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As someone involved in your company’s procurement process, you understand the significance of having a reliable contract management system. A system-of-record helps to streamline the process and ensure compliance with your vendor contracts. However, managing these agreements can be daunting and time-consuming, especially when you have to keep track of multiple complex contract terms, renewal dates, and financials. 

Managing SaaS and non-SaaS contracts separately can also make tracking renewals and understanding spending complicated. Implementing multiple systems creates more opportunity for inefficiencies and cost increases. 

This is why having a centralized system that simplifies the management of ALL of your contracts is essential.

Meet Contracts - a contract lifecycle management solution to streamline your contract management process and ensure compliance and transparency. Vendr Contracts provide a single platform to securely store, track and manage your contracts, including both SaaS and non-SaaS.

How Contracts helps streamline contract management

Contracts helps you centralize vendor agreements, organize renewals and improve financial reporting. Here’s how centralizing your agreements makes understanding and managing your vendor relationships easier, and ensures compliance and transparency.

Contracts provide a centralized and secure platform for contract administrators to store and track executed agreements. With this contract management solution, businesses can easily organize and keep track of their contractual obligations, ensuring industry compliance and reducing administrative tasks.

With Contracts, you keep all the contract details consistent. With this contract management efficiency, it’s easier for your team to filter and find the necessary information for relevant tasks. It also keeps all SaaS and non-SaaS contracts in one place, allowing you to track and manage them all easily. 

For Vendr customers, our contract management features also integrate with Workflows, helping you further streamline and optimize procurement processes, reduce administrative tasks and improve business visibility. Workflows, rolling out for all customers in early 2023, Will provide you with tools to build dynamic processes that scale up or down as needed, giving you flexibility to drive compliance while increasing velocity.

How Contracts can help manage your renewals

Contracts helps manage your renewals, turning them from a source of stress to a driver of transformation. 

With your contracts organized, you can create a centralized contract renewal strategy with visibility into upcoming due dates. By ensuring you surface renewals with enough lead time (we recommend 90 days), you’ll have plenty of time to review the terms, identify opportunities to consolidate, and come into negotiations on a stronger footing. 

Get a jumpstart with contract periods, payment details, background information, and essential contacts, helping organizations plan for renewals. Plus, for SaaS contracts it’s easy to kick off an intake with our expert team of SaaS consultants for supplier insights and negotiation support.

Spend visibility becomes more transparent with Contracts

With Contracts, Vendr gives you another tool to centralize visibility into your spend. Combine contracts with our finance system integrations to compare contracted spend with actuals, make decisions on stack consolidation, and make data-driven decisions that can positively impact your company’s bottom line.

How to start using Contracts

For our Vendr customers, Contracts is now available for you to jump in and start using today. Speak with your CSM on how you can start adding your non-Vendr or non-SaaS contracts to get started, or check out our help docs for more information.

If you’re not yet a Vendr customer, learn how you can unlock the full potential of your software spend and take control of your renewals with a free stack Analysis

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