SynerTrade announces “ST6 Contract Management”, the supplier contract management solution

SynerTrade presents “ST6 Contract Management”, a module enabling simple and effective management of all of a company’s purchasing contracts. ST6 Contract Management offers buyers the possibility to quickly draw up draft contracts from the results of online or traditional negotiations, to track the complete approval process, to create customized access to purchase contracts and to take advantage of full mapping of contracts.

The purchasing contracts management application ST6 Contract Management enables:

• 80% reduction in time between negotiation and finalization of contract,
• Savings due to increase in contract-compliant purchases,
• Enhanced knowledge management,
• Share of best practices,
• Smoother data exchange between different stages of the purchasing process.

Aimed at multi-site companies, ST6 Contract Management offers the following features:

Enhanced contract management
This module equips purchasing organizations with an extensive database of all the company’s purchasing contracts and allows search for contracts by product group, product, contact person, supplier, etc…
Thanks to an automatic alert system, ST6 Contract Management advises buyers if there are other contracts already negotiated by the company and when they are due to expire.

Contract approval process management
This feature covers more specifically:

• Negotiation process management on a product by product basis,
• Approval request templates customized by division, department, price or item group,
• Approval team management and supplier contact modelling,
• Follow-up of the approval process, particularly for confidential information,
• Quick conversion of negotiation results into draft contract.

Furthermore, suppliers can get involved during finalization of contracts and approve amendments online.

Internal contract publication and access rights management
ST6 Contract Management enables view and access rights management customized by division, department, role and item.
The module also allows generation of PDFs for manual contract signing.

Retrospective contract audit, amendment tracking and version management ST6 Contract Management offers full documentation on all older contract versions and negotiation results.
Additionally, the application offers audit-trail of contract amendments also in the negotiation phase. Finally, real-time exchange of data and updating of contracts to one or more ERP systems is possible via the ST6 Plug-In ERP integration tool.

ST6 Contract Management is one of the ten modules of the new software suite, SynerTrade 6, in the Suppliers Monitoring category.

SYNERTRADE 6 :
The new modular software suite, SynerTrade 6, is the ultimate solution on the European ePurchasing market. Its 10 functional modules can be grouped into 4: Sourcing, Procurement, Suppliers Monitoring and Spend Monitoring.
Sourcing is a software suite to: organize, streamline automate the Calls for Tenders management, from requirement fine-tuning to final supplier selection, including the automated value chain and bids analysis.
Procurement is a software suite to optimize costs and deadlines of the procurement process.
Suppliers Monitoring is a set of innovative solutions to benchmark suppliers, measure their performance and manage negotiated contracts.
Spend Monitoring offers a wide range of software solutions to analyze companies total spend managed through heterogeneous IT systems and have a global view of purchasing within the organization.