A major responsibility for procurement teams is contract management: ensuring a company gets what it needs and that vendors meet contractual obligations. Procurement understands the market’s and customers’ needs and is able to obtain goods and services to serve them.
Procurement needs to be able to communicate often and efficiently with vendors with whom they do business. In order for procurement to do its job well, team members must scale the contracting process so that it is smoother, more transparent, and timely.
Where procurement teams find hiccups
Vendor onboarding documents and NDAs are contracts with laborious, manual workflows that typically still require a license to an e-signature solution. A person in procurement has to finalize signatures on top of handling negotiations and data entry after the agreements are signed. The hiccup with procurement is that most of the time, sales operations teams are the team members that hold those licenses, with procurement teams needing specific access to said documents. Alternatively, vendors all may have their own e-signature providers, requiring procurement teams to maintain their own order or organization for the various contracts they may sign.
Clickthrough: Less negotiation, one place where all contracts live
A clickthrough agreement solution has one job: to make contracts easier to access and sign with less negotiation, all while remaining enforceable. Keeping contracts like NDAs, vendor agreements, and purchasing orders all in a single, accessible place allows all necessary parties to access the documents they need without additional licensing.
Here are other procurement contracts that can move to a clickthrough agreement solution:
- Purchase Order
- Cost Reimbursable Contract
- Cost Plus Fixed-Fee
- Cost Plus Incentive Fee
- Cost Plus Award Fee
- Cost Plus Percentage of Cost
- Time and Materials Contract
- Fixed-Price Incentive Fee Contract
- Fixed-Price with Economic Adjustment Contract
- Deferred Prosecution Agreement
How your procurement team can use a clickthrough solution:
Rather than going back and forth with different vendors, sending and re-sending Word Documents or PDFs for consideration, and manually creating sales contracts, the procurement department would benefit from moving all of these regularly-sent contracts behind a clickthrough solution that makes the back-and-forth a single, fluid step.