Automatic Notification of Contract Milestone Events

Email notification is an automatic function triggered by a specific action pre-determined within framework. The most common use is to notify contract managers of the review, notification and cancellation dates within contracts, but can include other milestone events such as overdue supplier invoices and when a product or services cost exceeds the perceived savings.

How does it work?

Email notifications are triggered by an important event and are automatically sent according to a specified schedule using pre-created email templates.

The email contains a link to the contract entry the milestone relates to, so once the user has logged on they are taken straight to the relevant information. The notification emails can be sent to a nominated person, people or a pre-set team.

What are the benefits for contract reviews/renewals?

Managing contract renewals is an intricate and challenging process requiring you to assess various factors such as the contracts performance, value for money and business risks. If the contract is not terminated prior to the cancellation date your company may still be financially obligated.

One financial company we recently spoke to had spent over half a million
pounds on IT contracts it no longer required... Contracts had been renewing
automatically each year, simply because the company failed to notice they were due
for renewal and did not cancel them in time.

framework provides email notifications for all important milestones such as contract review and cancellation dates, ensuring that there is sufficient time to review and potentially cancel the contract in time, thus avoiding unnecessary payments.

With this system the relevant individuals are automatically notified of a specified contract event. The emails sent utilise a pre-created template and can include any given amount of detail you require. It also contains a direct link to the contract under review, to ensure security breaches don’t happen the link will take you to a logon screen that re-directs to the contract; ensuring that only authorised users of the system and those with permission to view the contract will be given access.

Once in framework, you will also have access to all the information you require to effectively review a contract, including associated reports, notes and documents significantly reducing the time taken to perform contract reviews and gaining procurement leverage.

 

To learn how this works please contact Adele Briggs on 01522 881300 or click here.

For further information on framework:
Download the framework brochure
Contact a member of our framework Team
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