FOLLOW THE DIGITAL DEVELOPMENT by improving your agreement management; there is much to be gained by it. Agreements are one of the company’s most important types of document. Despite this, many companies lack an effective agreement filing system. Many still work with paper based systems which impede information sharing and searching. In many cases there is no follow-up system to indicate which agreements are about to expire and when. Agreements are sometimes extended without anyone in the company having control over it. In addition there is often no follow-up to check whether incoming supplier invoices agree with the terms of the agreement.

 

The MediusFlowTM contract management module puts you in better control over agreements your company has entered into. Contracts are scanned in and held on a database. When an invoice arrives, it is matched against the contract covering it. If there are any discrepancies, the person responsible for the contract is notified. Triggers can also be set for agreement periods to reduce the risk of contracts being extended incorrectly.

 

The contract management module has seven focus areas: partner contracts, customer contracts, purchasing contracts, employment contracts, leasing contracts, letting forms and subscription contracts. A number of matching objects are created for a contract, one for each invoice expected to arrive. These are based on the parameters set for the agreement and enable invoice matching to be performed on the receipt of the invoice. The contact can be matched at both header and line level. The matching function may control the period of validity for the invoice and that pre-determined amount limits are not exceeded.

 

With the MediusFlow contract management module your company gains the benefit of a user-friendly tool which gives you better control over current contracts. Avoid the risk of paying unnecessary contract costs using the automatically triggered reminders. Existing scanners can be used with the Medius contract module. By complementing paper-based files with digital storage you will experience far more efficient contract management.

Products

• MediusFlow
• Purchase Module
• Workflow Platform

• Supplier Invoice Module
• Agreements Module