SmartDesk, powered by K2 can be easily configured to address all of the needs of Contract Management, providing the required approvals, workflows and interfaces for new contracts as well as renewal reminders and automated processes for contracts about to expire.
With SmartDesk, contract negotiation and approval process workflows can be initiated within Word or via the scanning of a contract. Notifications can be sent on regular intervals (daily, weekly, monthly) to Contract Management and Functional Owners upon pending renewal and reports summarizing all contracts pending renewal with runtime option for time interval (past due and 30, 60, 90 days). These reports can be sorted by Company, renewal date and or renewal status.
SmartDesk frameworks can be extended to create alert capabilities for sending notification of pending information about vendors such as mergers, acquisitions, sales, etc to stakeholders as well as summary reporting by vendor which tracks milestones (i.e. contract execution, implementation, etc.).