Contract Management in Manufacturing
The creation and management of contractual details can be complicated and full of deadlines that require specific and timely action. The completion of a project or service may depend on satisfaction of multiple conditions. Pricing guarantees may be subject to changing market conditions that result in re-negotiation of terms, and late payments may result in penalties or a discontinuation of services. Staying informed is vital.
An electronic document management system helps manufacturers keep connected with all of the contract details. DocFinity digital imaging centralizes the data stored within contracts and other related documents, including vendor information, deadlines, pertinent images, emails, faxes, and related correspondence in a searchable database so you can find what you need instantly. Staff gains an easy overview of contract terms, clauses, attachments, amendments, and other contract-related processes, making their jobs easier. Management gains a quick overview of contractual and financial obligations and obtains needed information to project goods that will be available for inventory; predict necessary pricing changes; review payment terms and cash flow; and more.
Digital workflow automates the notification process for tasks that require attention, sending the right material to the right person for the appropriate action, and electronic signature capabilities keep processes moving even when you are away from your desk. Automatic alerts inform staff when contractual deadlines are nearing or are missed, generating appropriate automated calls or letters, or informing staff of needed actions. Integration with accounts payable and inventory control systems eliminates data redundancy and errors, notifying staff that the delivery of additional goods is imminent and ensuring that job completion results in prompt payment and avoidance of penalties. Questions from vendors, management, payables staff, and customers can be answered immediately, resulting in superior service, and auditing the records becomes a cinch.
If you are searching for an easy and effective way to manage thousands of details with a few clicks of a mouse, contact us or email us at info@docfinity.com. We can connect you with all of your business information so you can relax a little.
