As the world becomes more digitized, the need to use paper is rapidly losing ground. In today’s business climate, speed is critical, and the faster you sign your contract, the sooner you can move your product or service. Although using email to edit contracts is more efficient than paper, it is time-consuming and not very secure.
The Vendormate Contract Manager gives you a secure platform to transfer documents via FTP.
Contract Manager is an online application that tracks, stores and manages contracts of any associated documents allowing buy-side users to collect information about contracts. The information can be used to monitor the terms of the contract as prices, suppliers and other factors that affect the terms of the contract change.
It is integrated with Credential Manager, an application with validation tools to ensure suppliers are compliant and meet legal standards.
“Emailing contract edits is cumbersome and insecure; document transfer via FTP is much more secure because only authorized users have access to the site,” said Mike Paris, Vendormate’s vice president of Supply Chain Solutions.
The final electronic version of the contract is filed into Contract Manager after the buyer invites the vendors to upload contract drafts and any other relevant documents via FTP. The buyer and the vendor can review and comment on the contract by logging in to the FTP site. Once they agree to the terms, the site closes and the final draft of the contract gets integrated into the system automatically.
Image via Shutterstock
The documents are available in hard-copy or electronic formats and can be submitted with email, fax, Web and smart mobile devices.
The company facilitates the transactions between healthcare providers and suppliers to ensure both sides know about each other. It provides services for more than 1,600 healthcare providers and 55,000 vendors. The Software-as-a-Service (SaaS (News - Alert)) application provides transparency for healthcare buyers who rely on life saving products and services, as well as everyday items from these vendors.
"Vendormate is focused on healthcare suppliers and their relationship with hospitals. We are building out supply chain services that leverage our network of healthcare providers and suppliers across the United States,” said Bill Hayes, Vendormate president. “The relationships and data within this network allow us to continually enhance supply chain processes – from supplier discovery and sourcing to contract management to invoicing.”
The company also provides a free mobile application to 200,000+ of its healthcare suppliers with smartphones, tablets and other mobile devices with Android (News - Alert) or iOS.
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Edited by Braden Becker