One of the most important actions items for the contract bureau is to get more visibility into contract processes and to bring more spending under management control. However, in spite of having contract management systems in place, many organizations are faced with non-compliance issues; maverick spending and non-contracted purchase orders leading to savings leakage.
REALM provides contract assessment functionality to identify potential shortfalls in their contract management tools, processes and technology capabilities. Further investments in effective spend analysis capabilities with out of the box reports; metrics and KPIs on contract compliance will improve visibility into non-adherence and identify bottom line savings opportunity.
In addition, REALM provides a robust configuration management module. All aspects of the application can be managed using the configuration module. This includes:
- - Workflow builder
- - Rule definer
- - Data form builder
- - User security manager
- - Report builder
- - …many other aspects of contract life cycle automation.
The configuration management module is included as part of contract analysis as it provides the basis for contract data mining.