SoftCo is delighted to announce the release of its new Contract Management solution.
According to a recent PWC Global CFO Pulse survey, “Cost containment remains the top financial action CFOs are considering…” As organizations contend with this ever-increasing pressure to reduce costs and improve company performance, contract management, whether vendor, customer or HR contracts, has become an important focus of attention.
SoftCo Contract Management handles the request, purchase and control of contract-based spend within the eProcurement module and facilitates contract and invoice matching within the Accounts Payable module. The solution presents comprehensive reports on exceptions, statuses, renewals and any overcharges. It works seamlessly with the SoftCo Procure-to-Pay modules to configure installment plans, ensuring you only receive accurate invoices from your vendors, as per your agreed contracts.
SoftCo Contract Management also provides a SÄHKE2 certified central repository. All agreed contracts, associated documents, HR or any other type of contract are compliantly stored and managed and are instantaneously available for search and retrieval based on user permissions. With full contract lifecycle management, the solution proactively sets alerts for any contract which is coming up for review, renewal or expiry.
Commenting on the release, SoftCo CTO, Robert Hickey said:
“Organizations are facing continued challenges with cost containment and the added complexity of their staff working remotely. At times like this, visibility and control are key. SoftCo Contract Management is tightly integrated with SoftCo’s cloud-based Procure-to-Pay modules giving complete control, visibility and instant retrieval of all contracts and associated documents. With proactive notifications of contract renewals and expirations, organizations can make the right decisions and the right time.”
SoftCo is a global organization with offices in the USA, Ireland, the UK, and the Nordics. SoftCo is ISO 27001 certified, a Microsoft Gold Partner, AWS Advanced Technology Partner, and SAHKE2 certified. Over one and a half million business users worldwide across all industry sectors use SoftCo solutions which include AP Automation, Procure-to-Pay, eBilling, and our Compliant Archive solution. Customers include the Finnish Government, Primark, Sunny D and St Peters University Hospital.