What is Zycus iContract - A Fully Featured Contract Management Solution?
Zycus iContract is a fully-featured contract management software designed for sourcing and procurement professionals. Zycus’ iContract provides organizations the ability to actualize negotiated contract savings through real-time monitoring, proactive alerting, and robust search capabilities that provide intelligent tracking of contract compliance and utilization across the contract lifecycle.
Scattered contract documents across desktops, servers and security systems can pose a threat to the competitive business intelligence of a company. Zycus iContract minimizes this with secure, centralized contract repository with folder-based access; strict, configurable access management based on hierarchy and department; customizable role-based views depending on the type of contract data; and a powerful search feature based on keyword, category, supplier, contract number, and line item.
In business operation, Procurement ROI relies on the compliance of terms – volume discounts, rebates, payment terms, supplier performance commitments, etc. embedded into contracts. Zycus iContract promotes both forms of compliance with spend to contract matching, contract utilization tracker, and configurable alerts around non-contract spending.
Moreover, although long terms contracts create significant market benefits, it also creates risk exposure to changing market conditions. Zycus iContract empowers procurement professionals to manage such risks with configurable, contract expiry and renewal alerts.
What will you get by purchasing the product?
Documents Management Enhancement
Enhance stewardship, security, and continuity around important documents
Empower procurement professionals with rapid access to contract data
Cost Savings Optimization
Reduce maverick spending and erosion of cost savings
Ensure awareness of spend and related risk management opportunities related to contract expiry and market conditions
Contract Processes Acceleration
Accelerate contracting processes and minimize contracting risks
Ensure proper governance and effective/efficient version management
Promote collaboration and high user adoption among key stakeholders
Enables suppliers comparing
Compare suppliers on SLA’s before renewing contracts or supplier evaluation process
Data Security Enhancement
Login based supplier portal access enhances data security
Single step flipping of request
Enables single step flipping of request into iContract
Here are the detailed features of the product:
01. iContract Repository
Helps you create a smart contract warehouse, with:
- User-defined access controls
- Powerful multi-parameter and free text search
- Dynamic reporting and configurable dashboards
- Alerts and reminders to track contract expiry, contract utilization, and off-contract spending
02. iContract Authoring
Simplifies writing and negotiating complex contracts with:
- Template libraries and wizard-driven contract authoring
- Audit trail, version management and side-by-side version comparisons during a negotiation
- Clause libraries with preapproved clauses for standardizing contract language
- Flexible approval workflow