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1. THE IDEAL GUIDE TO
GET YOUR CONTRACT
MANAGEMENT PROJECT
OFF THE GROUND!

2. HOW CONTRACTS IMPACT & SIMPLIFY BUSINESS
 Contract documents dictate the financial,
business, and legal terms and define the
relationships between suppliers and
customers. With the proper visibility and
compliance, contracts can simplify all business
processes. Making processes more efficient
and effective is critical in successful corporate
governance and overall management best
practices.

3. WITHOUT AN AUTOMATED SOLUTION, THE JOB CAN BE COMPLEX
 Fragmented procedures - increased maverick
buying and increased supply and financial risk
Labor-intensive processes - long sourcing and
contracting cycles; less spend under
contract/management; and noncompetitive
negotiations Poor visibility into contracts and
terms - poor compliance; inconsistent and risky
terms; and limited visibility into spending
Ineffective compliance monitoring and
management - increased maverick buying; missed
rebates and discounts; and overpayments and
performance risks Inadequate performance
analysis - no view into category performance;
policy and regulatory violations; and
underleveraged spending and high risk

4. CLM SOFTWARE SAVINGS & ROI ANALYSIS
 According to AMR Research, automating
purchasing contracts delivers significant ROI
in supplier and internal compliance, better
sourcing, and workflow efficiency. It only
makes sense that a solid investment for any
company is one that returns the initial
investment within a few months. Aberdeen
Group states that companies are implementing
targeted projects in two to three months that
can deliver a 150% to 200% payback within a
year.

5. WORKFLOWS & APPROVALS
 Create, manage, and track contract approvals through
all phases of your business processes using the
system’s approval workflow engine. Administrators
use the flexible workflow creation tool to build and
manage highly structured workflows that can be
defined by a company’s pre-existing business
processes. Create and launch pre-defined and ad -
hoc approval gateways Attach documents to
workflows, contracts, and companies Send contracts
to one or many individuals simultaneously or in a
sequence Track all approvals by status, using the
system dashboard Maintain flexibility: whenever
required, power users with proper security
permissions can override the approval workflows

6. QUICK GUIDE TO HANDLING CRITICAL OBJECTIONS
 Do I have to install something on my
computer? No, this is a Software-as-a-Service,
so all we need is a live internet connection and
a web browser. Because Novatus lives on the
internet, it instantly updates across all our
internet-connected devices, and gives us the
same experience whether we are on a desktop
computer, a laptop, a tablet, or a modern
phone. We’ll have access to our data
anywhere, and all upgrades are zero cost.

7. 13 TRACK FINANCIALS / FORECAST PAYMENTS
 To Capture, store, and display payment totals in the
easy-to-use Payment Stream section.
 Automated reporting compares negotiated terms to
actual payments, preventing the loss of negotiated
revenue.
 Provide management with clear, concise reports that
outline financial commitments and revenues. The Conga
Novatus payments section is also a target touch point
for integration to your financial system, enabling full
automation of financial payment and revenue tracking.

8.  Visit the link to get the latest updated on
contract management technology guide:
http://contractmanagement.cioreview.com/whitepaper/bu
yers-guide-to-contract-management-wid-518.html