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BidSync, a provider of e-procurement solutions for public agencies, launched eContract at the 2012 Government Contract Management Conference in Washington, D.C. today.
The Contract Lifecycle Management (CLM) solution leverages BidSync’s market-leading e-procurement software to enable procurement professionals, CFOs, legal teams and administrators to effectively manage contract portfolios and gain intelligence on spend management.
“Contract Lifecycle Management is transforming the way agencies manage relationships with vendors and suppliers,” said Sabrina Stover, CEO of BidSync. “eContract provides the only completely configurable and browser-accessible CLM solution in the industry. We have seen ready adoption of CLM with our current customers and expect many government agencies to incorporate eContract into their procurement process within the next 12 months.”
BidSync eContract’s innovative contract management technology offers a complete administrative solution that accelerates contract execution, improves stakeholder collaboration and strengthens regulatory compliance on both sides of the negotiation table. Agencies can implement BidSync eContract as a stand-alone solution or as a fully integrated component of the end-to-end procurement suite, which includes BidSync eProcure (sourcing) and ProcurePointe (procure-to-pay) modules.
BidSync eContract easily interfaces with other applications and systems to increase efficiency and the capacity to monitor total contract value and performance. By managing contracts through an integrated e-procurement solution such as BidSync eContract, agencies can initiate contract workflow processes, increase process transparency, manage date-driven actions and maximize the value of every contract.