Does your TPRM platform have a tickler for Due Diligence? that is, do you get alerts when Due Diligence is due or past due?
If so, you might consider as an interim solutions, making the contract a Due Diligence item.
Set the notice date + 60 or 90 days as the due date (so you have time to renegotiate before it auto renews). :-)
Most CLM platforms are heavily designed to manage workflow with a large number of users (typically for a sales force to crank out contracts). And most of us just need a good tool to link the contract to the risk assessment and the purchase orders. :-) and remind us with enough time that a contract needs attention. albeit, there's a lot more meta data we should be tracking... Product category, exclusivity, notice periods, acceptance dates, etc.
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Bradley Martin
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Original Message:
Sent: 09-19-2022 11:06 AM
From: David Medina
Subject: Contract Management Software
Our company is looking at various platforms for our contract management program. We currently have no central repository for our vendor contracts due to lack of a procurement team, and all contracts are handled by department directors.
I'm wondering what platform (DocuSign, PandaDocs, etc.) would be recommended to handle the lifecycle of all of our vendor contracts. Our current TPRM platform does not handle contract management.
Thank you in advance for all feedback and input.