Take control, ensure compliance
All executives are well aware of the need to mitigate risks and manage liabilities. You must always keep an eye out for new opportunities – new sources of revenue, improvement of performance, and control of cash and capital. In other words, executives are constantly concerned with transactions and the processes governed by contracts.
Yet, very few organisations manually conduct these activities with regularity and precision. Even fewer have automated these processes. Basware Contract Lifecycle Management allows your organisation to simplify and automate the monitoring of both opportunity and obligation.
Key benefits
- Increase the accuracy of cash flow forecasts – Basware’s solution enables you to leverage the long-term contractual outlays and income streams to understand cash flow and capital commitments
- Enhance effectiveness of cash management – Seamless integration in purchase-to-pay enables tracking of contract compliance, transactional anomalies, budgetary excess, payment timeliness
- Capture upside opportunities – Reports and alerts allow you to recognise improvement opportunities, such as renegotiation of terms or deadlines
- Outlaw maverick spending and manage rebates – make contractual purchasing policies stick – determine suppliers, prices, and outcomes ahead of time of purchase. Ensure supplier rebates and discounts are automatically captured and factored into cash management
- Avoid inadvertently getting locked into a new buy cycle – comprehensive notification, alerting, and reporting eliminates the need to set up potentially costly evergreen contracts