Kairaus’ Contract management application facilitates procurement department of organizations in automating the entire process of vendor selection, evolution, contract development and contract award.

The process based on SharePoint includes workflows, alerts, lists, document libraries, versioning, etc. It assists organizations in increasing procurement process efficiency and process compliance.

Some of the key highlights of the solution are:

MASTER TRACKER

1. To be updated by the Assurance and Vendor Engagement Team to keep track of all contracts.
2. Master tracker will keeps a track of the following activities
1. Renewal Alerts
2. Request for quotations sent
3. Quotations received
4. Progress on negotiations, comparison chart and logic note
5. Status on preparation of Annual Rate
6. Completed Annual Rate agreements
7. Checks if all processes have been followed for signing of contracts

RENEWAL ALERTS

1. Renewal alerts are sent to the procurement team within a specified timeline set in the system.

REQUEST FOR QUOTE

1. A request for quote is mailed from the system to the selected vendors.

QUOTATIONS RECEIVED

1. On receipt of the quotes from the vendors the Procurement team publishes it on the system and an alert is sent to the concerned department(s).

UPDATED COMPARISONS

1. An analysis for selecting the apt vendor is done based on the data generated by the system.

LOGIC NOTE

1. The concerned department(s) then further shortlists the vendors based on the parameters defined in the system. The system then highlights the vendors matching these pre-defined parameters. 

DRAFT COPY

1. The draft is then iterated through the stakeholders between various departments and the vendor until finalized. A workflow is created for recommendations, comments, rejections and approvals of the vendors.  

DOCUMENTARY RE-ASSURANCE/ANNUAL RATE AGREEMENT

1. The contracts are then cleared after going through various checkpoints at various stakeholder levels.

COMPLETED ANNUAL RATE AGREEMENT

1. The final contract is mailed to the Procurement team and is then published on the system.

DISPATCH & ACKNOWLEDGEMENT FROM VENDOR

1. After publishing the final contract all updates are the updated in the master tracker.