Vendor Contracts
Every vendor contract from request to closeout, with the money, the obligations and the vendor’s performance tracked against it.
Contracts are approved on a business case and then rarely examined again until the renewal notice arrives. Vendor Contracts keeps each agreement accountable for its whole life: how it was sourced, how it is funded, what has been paid, what the vendor promised, whether it delivered, and when the next decision must be made.
What it does
- Requests, RFIs and RFPs
- Departments submit intake requests, and sourcing proceeds through RFI and RFP with responses compared side by side before a contract is proposed.
- The complete lifecycle
- Proposal, legal review, redlining, signature, purchase order where one is required, activation, renewal and closeout, each stage dated and attributed, with approvals, reminders and delegation.
- Agreements as they are actually written
- Master agreements with their child agreements, change orders against either, and key terms recorded where the team can find them.
- Funding and payments
- Capital or operating funding, cost centre, GL account and fiscal year on every contract; payment vouchers attached; payment schedules generated; draw-down contracts tracked; and project costs charged against the contract as the work is delivered.
- Escalators measured against benchmarks
- Annual increase percentages are recorded with each contract and measured against benchmark indices such as CPI, so that above-market increases are visible before they are accepted.
- Obligations and performance
- Service levels, phase gates and expected return are recorded at signature and tracked as the work lands, and each vendor carries a scorecard built from that record.
- Compliance on file
- Business associate agreements, security assessments and certificates of insurance are tracked against each vendor, with their expiry dates.
- Renewals without surprises
- Renewal decisions and notice deadlines are tracked, and warnings reach the people responsible early enough to renegotiate or exit.
- Access that respects sensitivity
- Individual contracts can be restricted to named people, and financial detail can be limited to those who need it.
- Dashboards, import and export
- Role-based dashboards for leadership, contract owners and finance; bulk import of existing contracts from CSV; and exports for finance systems and audit.
How it works
- RequestA department records the need, and the request is approved and assigned.
- SourceAn RFI or RFP is issued where appropriate and the responses are compared.
- ContractThe agreement moves through legal review, redlining, signature, purchase order and activation, with funding and obligations recorded.
- Manage and closePayments, change orders, performance and compliance are tracked through renewal and, eventually, closeout.
Who it is for
Technology leaders, vendor managers and procurement teams accountable for a portfolio of agreements and the value each was expected to return, together with the finance partners who need committed, paid and delivered to agree.
The contract documents themselves remain in your document management system. Vendor Contracts holds the structured record and a reference to each document, rather than a second copy.
Availability
Vendor Contracts is provided directly by Renevell and configured with each customer. To arrange a demonstration or discuss pricing, contact support@renevell.com.