Contract Management

This message was posted by a user wishing to remain anonymous

Good afternoon, 

I have a question for Venminder users...how are you all uploading master service agreements and various SOWs or Orders into the product profiles?  Do you include the master on each SOW?  We were not doing that, but its causing confusion because the master agreement will often disappear with an inactive product.  We similarly tried uploading a product with just the master, but that seems redundant.  Any thoughts would be helpful!

Thanks!

We have done it several ways thus far and still struggle with what's the most appropriate and efficient.  If there is only one product, it is easy, each SOW is a modification with it's own dates.  But when there is an underlying MSA to several SOWs and different products?
Original Message:
Sent: 06-16-2021 01:22 PM
From: Anonymous Member
Subject: Venminder and Contract Uploads

This message was posted by a user wishing to remain anonymous

Good afternoon, 

I have a question for Venminder users...how are you all uploading master service agreements and various SOWs or Orders into the product profiles?  Do you include the master on each SOW?  We were not doing that, but its causing confusion because the master agreement will often disappear with an inactive product.  We similarly tried uploading a product with just the master, but that seems redundant.  Any thoughts would be helpful!

Thanks!

Hi everyone!

There are a couple of options for contracts with multiple SOW that have separate terms.  The best way to tackle these would be to upload the Master Agreement first, either as a perpetual term or default to a 12 month with 12 month renewals, and then add each SOW as a separate contract under that product and process to reflect that term information.  If you have multiple products within the SOWs, you can always check the additional products in under that MA.  This way your MA and all SOWs will show up in tabs across the top of the contract page for easy access.  You just click on the tab of the SOW you would like to review and it will open to that SOW contract page. This makes it really easy to maneuver between your MA and SOWs too!

You can also add the SOWs as modifications, however that does become problematic if the SOWs are running on different terms as these may not be reflected accurately.  Typically, documents are uploaded as modification if they are just adding services that run on the same term, making price changes, amending the provisions or extending the term of the original contract. So for instance you have a SOW that has a Change Order or Extension to the term, you can add that as a modification to that particular SOW and it wont change the terms of the MA or any other SOW you have associated with the MA.

I hope this is helpful and would love to hear from others on how they upload multiple contracts under one vendor MSA!

Original Message:
Sent: 06-16-2021 01:22 PM
From: Anonymous Member
Subject: Venminder and Contract Uploads

This message was posted by a user wishing to remain anonymous

Good afternoon, 

I have a question for Venminder users...how are you all uploading master service agreements and various SOWs or Orders into the product profiles?  Do you include the master on each SOW?  We were not doing that, but its causing confusion because the master agreement will often disappear with an inactive product.  We similarly tried uploading a product with just the master, but that seems redundant.  Any thoughts would be helpful!

Thanks!

Original Message:
Sent: 6/18/2021 1:53:00 PM
From: heather garnett
Subject: RE: Venminder and Contract Uploads

Hi everyone!

There are a couple of options for contracts with multiple SOW that have separate terms.  The best way to tackle these would be to upload the Master Agreement first, either as a perpetual term or default to a 12 month with 12 month renewals, and then add each SOW as a separate contract under that product and process to reflect that term information.  If you have multiple products within the SOWs, you can always check the additional products in under that MA.  This way your MA and all SOWs will show up in tabs across the top of the contract page for easy access.  You just click on the tab of the SOW you would like to review and it will open to that SOW contract page. This makes it really easy to maneuver between your MA and SOWs too!

You can also add the SOWs as modifications, however that does become problematic if the SOWs are running on different terms as these may not be reflected accurately.  Typically, documents are uploaded as modification if they are just adding services that run on the same term, making price changes, amending the provisions or extending the term of the original contract. So for instance you have a SOW that has a Change Order or Extension to the term, you can add that as a modification to that particular SOW and it wont change the terms of the MA or any other SOW you have associated with the MA.

I hope this is helpful and would love to hear from others on how they upload multiple contracts under one vendor MSA!

Original Message:
Sent: 06-16-2021 01:22 PM
From: Anonymous Member
Subject: Venminder and Contract Uploads

This message was posted by a user wishing to remain anonymous

Good afternoon, 

I have a question for Venminder users...how are you all uploading master service agreements and various SOWs or Orders into the product profiles?  Do you include the master on each SOW?  We were not doing that, but its causing confusion because the master agreement will often disappear with an inactive product.  We similarly tried uploading a product with just the master, but that seems redundant.  Any thoughts would be helpful!

Thanks!