Contract Management SOFTWARE
Take control of every document
Without the right tools to effectively manage and monitor contracts, supplier agreements can roll unchallenged from year to year, locking you into increasingly poor pricing and service terms. Protect your organisation, reduce contract risk and lower costs with web3 Contract Management – a secure cloud repository for all your contracts with a comprehensive feature set.
Benefits at a glance
What is Contract Management
New to the term Contract Management, or need to refresh your memory? Here’s our explanation of the Contract Management process.
Contract Management is a continuous process that refers to the negotiation, supervision, modification and termination of contract terms in order to mitigate contractual risk and improve financial and operational performance. Contract Management software enables all agreements to be stored in a single, secure environment, giving organisations the benefit of complete visibility of contractual details, including type, service level agreements, performance indicators, expiry and value. Contract variations can also be added to account for changes over time and keep control and audit with comprehensive contract versioning.
Contract Management software sends automated notifications to stakeholders, prompting organisations to regularly review contract agreements to avoid contracts rolling over into new contracts without review and unfavourable terms. Organisations benefit from the contract versioning functionality, giving them control and audit
Contract Management Process
The Wax Digital Difference
We’re helping organisations to manage over 30,000 contracts per year
More ways we can help
Source to Contract
Our web3 Source to Contract is available in separate modules or as a complete suite, providing organisations the option to scale as needed.
An easy to use eSourcing tool, enabling organisations to negotiate better supplier terms and reduce risk.
Integrated Source to Pay
Integrated Contract Management as part of a wider Source to Pay solution and get a complete view of spend against contracts.