EBMS Nimblex joins VendorPanel, creating a world class Guide-to-Pay procurement suite
Tuesday January 26, 2021

How Nimblex Can Help You Manage Contracts .

Nine Ways Nimblex Can Help You Manage Contracts

3 minutes

Nine Ways Nimblex Can
Help You Manage Contracts

Contracts need to be managed throughout the various stages of their life cycles.

When done manually, this can prove time consuming and costly. An automated contract management system, like the Nimblex Platform, can save you valuable time and money and help you to get the most out of your agreements. Let’s see how Nimblex helps you every step of the way…

1. Initial Request

The process begins with an initial request for a contract. The Nimblex Platform allows for document automation, which makes this step a breeze.

2. Authoring

Next, the actual contract needs to be drafted. This can potentially be a lengthy and laborious process, but with the Nimblex Contract Assembly Tool you can do it in a flash – simply press a button and documents will be created based on set templates and layout formats. Contracts can be produced much faster and without any nasty typos.

3. Negotiation

The Nimblex Platform can be configured to ensure all the necessary information is captured relating to this phase and relevant to your procurement policy. This may include all the steps relating to the evaluation of vendor submissions, scoring of capabilities, vendor presentation meetings, initial price submissions, negotiations and contract establishment.

4. Approval

The Nimblex Platform makes it easy to demonstrate to any auditor that the correct approval procedures for contracts in line with your organisation’s procurement policy have been followed.

5. Execution

With hundreds of contracts, various contract managers and spreadsheets in circulation, execution will only add to the risk of corruption, non-compliance, waste and inefficiencies. The use of the Nimblex Platform can eliminate these risks.

6. Obligations Management

This stage ensures that deliverables are being met and that value is not leaking from contracts. The Nimblex platform’s action and reminder schedulers will ensure that you get the most out of contracts and that you remain compliant.

7. Amendment

Automated systems provide a single, effective view of a business relationship across multiple contract amendments.

8. Auditing and Reporting

The Nimblex Platform allows for flexible workflow and reporting. Customised dashboards and tabular reports will ensure that you have real-time management information at your fingertips – at all times.

9. Renewal

The Nimblex Platform’s automated reminders will let you know when it’s time to renew a contract. The platform also makes it easy to draft a new contract based on the previous one. A contract management system like the Nimblex Platform makes it possible to monitor all your contracts from inception to renewal. When you are aware of what is happening every step of the way, compliance becomes easy and corruption can be eliminated.

Jeannie De Vynck

What is Nimblex?

Created in Australia, Nimblex is a cloud-based integrated business management platform that will deliver the business process automation you need.

We configure Nimblex’s Core solutions using our unique low-code tool and a wide variety of value-added features. This gives the flexibility that enables us to automate any type of process, especially if compliance and transparency are non-negotiables.

Our world class support team is ready to help.

1300 721 159

+61 3 9958 0000

info@ebms.com.au