SAP Contract Lifecycle Management – Optimizing Contract Management

Watch this solution demonstration to learn how SAP Contract Lifecycle Management lets you optimize corporate contracts by automating contract creation, enhancing visibility, and improving compliance.

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  • http://www.sap.com/demos/mmov/demos/sap-contract-lifecycle-management-reducing-cost-and-risk-demo-us.mp4
    • SAP Contract Lifecycle Management Reducing cost and risk while optimizing contract value.
    • In this demo, you'll see how the SAP Contract Lifecycle Management application enables and streamlines contract creation, contract visibility, and contract compliance.
    • Imagine I'm a contract manager.
    • I use the SAP Contract Lifecycle Management application to access my contract management workbench.
    • There, I can see all of my key activities, such as workflows, to-do lists, relevant discussions, and report channels.
    • Today, I want to create a new procurement agreement.
    • I can select the agreement I want from a list of templates.
    • The "Header" tab lets me enter data, such as the contract name and expiration date.
    • The tab includes details such as effective and expiration dates, the collaborators and reviewers on the project, and more.
    • The "Line Items" tab captures structured data that can then appear as an exhibit in the agreement, and be used for integration to operational systems.
    • Line items can be imported or added in an ad hoc manner, as shown here.
    • The "Terms" tab lets me set standard payment terms, such as minimums, maximums, rebates, and penalties.
    • The "Contract Documents" area is where I create the actual agreement documents.
    • First, I select the right standard agreement template.
    • To populate the template, I view it in outline form, and then start to select sections and clauses from a content library managed by our legal team.
    • Next, I refine the clause content based on the relevant choices from the clause library.
    • Once the content is finalized, I generate a draft using Microsoft Word, view it, and send it through a legal review and approval workflow.
    • At any time, I can track the document's progress through the review; I can look at the history of the document; I can track changes to the document — down to the details of the changed clauses themselves
    • even incorporate updates…andall the while the SAP Contract Lifecycle Management application maintains a detailed audit trail that shows the evolution of the agreement in detail.
    • When I clicked "done" and released the agreement for review by our legal department, the SAP Contract Lifecycle Management application alerted one of our attorneys and informed her that she had a pending workflow activity
    • From her workbench, she can open the agreement and review the details; we can go back and forth within the application if she's not happy with something, but if she is she can approve it with a single click.
    • In addition to contract creation and review features, the SAP Contract Lifecycle Management application delivers powerful repository and document visibility features.
    • With the search bar at the top of the screen, users can perform free-text searches for agreements and other documents.
    • The software makes it easy to navigate and find all of the agreements and subagreements that I have permission to access.
    • My company has also configured a view of all agreements requiring my attention, such as those with approaching expiration dates.
    • Finally, I can search documents by metadata, which my company can configure to include any relevant fields.
    • The SAP Contract Lifecycle Management application also provides powerful analysis tools
    • Let's say that I want to do some analysis to see the impact of agreements on my organization.
    • SAP Contract Lifecycle Management can take advantage of SAP BusinessObjects Dashboards software for robust, user-friendly reporting.
    • Let's take a look at a report about the top 10 agreements by agreement value.
    • Scrolling over the bar charts, I can see the agreement names, monetary values, and related suppliers.
    • If I select a particular agreement, I can instantly access all of the related data.
    • I can also see the master agreements that affect my cost center, as well as search all generated contract documents that use a specific clause.
    • Let's say I want to search for all agreements that have the "affiliate rights clause."
    • With a single click, I can find the agreements that contain that clause and export a linked list of those agreements to an Excel Workbook for easy follow-up.
    • SAP Contract Lifecycle Management offers a broad range of contract compliance features.
    • I can easily take advantage of operational integration with the SAP ERP application to manage compliance issues for the agreement I created.
    • With just a few clicks, I can publish the agreement to my ERP system and know that purchase orders and invoice payments will comply with the terms contained within the agreement.
    • What if I want to audit vendor compliance on an agreement for the purchase of personal computers?
    • In the audits area, I can schedule audit dates with the supplier to monitor the effectiveness of the contract and address any potential problems.
    • I can also track audits over time and capture incidents or issues related to the contract.
    • The application also enables me to look at spend on the contract in aggregate – for example, to ensure that employees are complying with company policy regarding the use of contracts.
    • As you have seen, SAP Contract Lifecycle Management enables and streamlines contract creation, contract visibility, and contract compliance.
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