Contract Lifecycle Management for Universities
Ensure contract compliance and gain centralized visibility into your contract spend so your university can operate at an A+ level!
Manual Processes are a Compliance Nightmare
Universities are a hub of activity, from department heads and professors, vendors delivering goods and services, to student-focused programs and services, universities generate a massive amount of contracts. These contracts must meet the strict compliance standards of the review board as they contain critical payment and obligation information that drive operations.
Managing these contracts manually can leave you susceptible to risks as there is no way to control language within the contract, and all payment and obligation information must be tracked by hand. It then becomes difficult to gain visibility into contract spend and contract fulfillment, ensure obligations and payment term compliance, or produce the necessary reports mandated by the state. Failure to control these key functions in your business operations could mean missed revenue, overpayments to suppliers on goods and services contracts, and steep penalties or fines.
Gain Compliance and Visibility into Contract Spend and Fulfillment
Prodagio Contract Management is a contract lifecycle management (CLM) solution particularly suited for universities to ensure compliance among the numerous contracts and agreements they create and manage. Prodagio Contract has been proven to help universities gain visibility into contract spend and contract fulfillment.
- Ensure Contract Compliance – Prodagio Contract captures contract terms and creates an automated way to track key milestones, dates, and events. Better tracking insures better insight into upcoming deadlines and improved contract compliance.
- Gain Visibility into Contract Spend and Fulfillment – Report easily on contract terms and track total spend, over/under spend per contract, PO, and PO utilization by vendor. Print or export these reports for internal review, or send them to state and federal governments to satisfy mandatory report guidelines.
- Easily Escalate for Review – Standard and customizable workflows allow you to easily route for review and approval. Tracking allows you to gain visibility into where the contract is in the review and approval process.
- Standardize and Optimize Contract Creation – Prodagio Contract is easy to use and can store any type of document within the system, from .pdf to .jpg. Leverage your existing Microsoft Word templates or standardize the creation of your contracts and supporting documents by using Prodagio Contract’s Document Creation Wizard which uses approved templates and clauses.
- Easily Link with Existing Systems – Prodagio Contract seamlessly integrates with your current data base and financial system(s), Banner, SciQuest, SunGard, SAP, Peoplesoft, Oracle, and JD Edwards. Thus ensuring you have full access to all your data through a single log-in. Prodagio Contract does not limit your access to the information within these systems, allowing you to run reports and view the data as if it were all stored in the same repository.
The Prodagio Difference
Prodagio Contract has helped improve contract management with major universities throughout the United States. We understand the standards universities must meet around contract creation and spend reporting, as well as the importance of ease-of-use. Our experience working with universities and education providers helps us to better understand your needs, automate and standardize your contract creation processes, and provide a solution which helps improve visibility and management across all of your contracts.
Prodagio offers a Contract Asset Repository with very powerful security features. Access is distributed according to user and group roles and profile, ensuring that only designated users, campuses or departments with authorized accesscan read or edit documents.
In addition to robust standard and custom reporting, Prodagio Contract also includes powerful ad hoc full text and data searches, providing the user the ability to quickly find the contract(s) or data they are looking for.
All user actions are recorded and all contract objects/data are stored in within a central repository. You will always have a record of what actions have been completed on a contract and what milestones are set in the future, upholding contract continuity.