CONTRACT MANAGEMENT SYSTEM
CMS application by Vuram is for companies that frequently manage contracts with customers, and seek to establish best practice process and performance metrics and provides a useful control environment to review and finalize contracts with customers. Effortlessly generate, organize, collaborate, review, store and track contracts across the organization in a single application. The contract Management Application by Vuram is built to help companies manage and review a large number of contracts seamlessly.
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.
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.
Easy contract initiation
Configurable Workflow: Built-in and configurable workflows for contract creation, approval, execution, and termination. Customize approval sequences and approval groups in a consolidated Manual of Approval, ensuring the right combination of teams and sequences for each contract type for efficient workflow management.
Contract Template Management: Enables the users to create and maintain reusable contract templates. These templates can be used to automatically generate the contract document during initiation.
Modify, review, and approve contracts
Docusign Integration: Ability of the application to enable the signatories to add digital signatures on the contract document. And these digital signatures are generated and added via Docusign integrated system.
Configure Notification/Reminders: Application enables the user to customize the reminders and notifications with the list of users to be notified for the contract at any required time in advance before the end of the contract period. This way any amendments, renewals or review of the contracts can be done on time and without any delay.
Track and get reports
Contract Amendments: Both Master and Subcontracts for an external party can get into amendments or updates any number of times and the application lets you manage the versions of amendments and helps the user to track the version.
Reports: Contract summary report based on status, contract type and department with detailed statistical information on the total value of contracts managed in the system and its details on the different status of approval flow.
CMS has a host of new upgrades and features to manage contracts better:
Fully configurable Terms, Clauses, Sections and Templates: Dynamically create terms & clauses, add to sections, merge it with the contract templates, group clauses, track approvals, and much more. Add parameters to clauses, sections, and templates and generate values dynamically.
Centralized document storage: Create multiple contracts for external parties and maintain all documents in the respective folders at a centralized storage location. Easily track and compare changes between different versions of documents.
Contract Approvals: Edit, comment, highlight or red line in the contract document during approvals and negotiation
Dynamic workflow: Create workflow and group templates based on the different contract types. Effectively manage the approvers based on the contract types and instantly collaborate with other users at any stage of contract approval.
SEE HOW it works