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Source-to-Contract Solution
Ready Contracts is Australia and New Zealand's leading contract management solution, which is used by over 150 of the country’s largest organisations and Government departments both in the cloud and on premise. Hosted in the cloud, Ready Contracts' modular solution provides organisations the flexibility to manage a single component of the contract lifecycle or end-to-end management for a complete integrated solution.
Ready Contracts is divided into nine key modules. Each module represents a key step in the procurement and contract management lifecycle – with the Tenders and Contracts modules situated at the heart of the system. These modules can operate individually on a standalone basis, or fully integrate with all the other modules.
Everything you need to manage your sourcing and contract lifecycle activities is situated within the one cloud-based platform, designed specifically to meet the contract management needs of your busy organisation and your suppliers.
When you choose Ready Contracts, you choose better supply side performance, stronger compliance, seamless tenders & contracts and more efficient processes that are just right for you. Best of all, you only pay for the modules you use to improve your organisation’s supply side performance quickly and easily.
Control your risk profile, budget management and compliance needs at every stage of your project
Processes
- User defined workflow processes with flexible system design scope
- Electronic approval requests
- Email notifications for task completion & allocations
- Outstanding task & workplans viewer – by project, by supplier & by contract
- Timed escalation pathways
- Document routing to project/contract approval network
- Time and date tracking for all activities with real-time audit trail
- Integration to all modules – with single-data entry capability
Categories
- User defined category listing – for contract & supplier
- Category stakeholder group & role definition listing
- Category Management plan & acquisition strategy
- UNSPSC structure association – for each sub-category
- Supply market intelligence & category supplier database
- Early Contractor Involvement (ECI) capability
Projects
- Project plan overview & contracts by pyramid listing
- Project cash-flow – by project stage and period
- Project stages timeline & work breakdown structures
- Issue management & resolution tracking
- Scorecard reporting – by project
- Stakeholder communications recording – by project
- Demand mgt & business case fact finder questionnaire – with weighting & auto scoring
Sourcing
- Acquisition strategy & business case planning
- Document templates library – incl. EOI, ROI, RFx, etc.
- Bid management & response collation facility
- Online evaluation and bid analysis by project group
- Secure pre-contract document management
- Stakeholder groups & project team definition
- Communications facility with auto recording
- Contract decision recommendation & award section
- Fully Integrated to TENDERS & CONTRACTS modules
Tenders
- Web based eTendering portal application
- RFx private invitation and/or public advertising board
- Supplier self-registration
- Document encryption & SSL security controls
- Supplier notifications & RFx clarifications
- eTender integration– with SOURCING module
- Tender Box & vendor response ‘locking’ protocols
Contracts
- Contracts database for all current and past contracts
- Contract master data – accessible through all modules
- Stakeholder contact details database – for each contract
- eAlerts for all tasks, delivery milestones, decision points & expiry dates
- Contract document management and drafting
- Insurance, securities, guarantees & escrow management function
- Scorecard reporting – by contract
- Tiered supply chain & sub-contractor management per contract
- Contract budget & financials section integrated to BUDGETS module & your in-house ERP & payment systems
Compliance
- Project risk assessment process
- Issue management programmes by contract or supplier
- Client notices to contractor community & suppliers
- Audit scheduling, reports and tasking
- Contract obligations & ‘hold-points’ check-listing
- Contract document templates library – Contracts, Completion Certificates, Letters, Notices etc.
Budgets
- Extra works quotation requests & ordering
- Annual contract cash-flow projections
- Actual vs committed spend reporting
- Contract schedule of rates
- Supplier payment claims & certification
- Supplier work instructions
- Variations & adjustments function
- Payment scheduling and processing
- Progressive payments including retention
SRM
- Supplier information & contact details
- Supplier capability statements & skills assessment listings
- Online supplier history archive & touchpoint management map
- Private communication channels with suppliers
- Vendor pre-qualification online questionnaire
- Supplier performance evaluation weighting, scoring & reporting
- Supplier portal for compliance/delivery/work reporting
- Compliance & insurance certificate management
- Issue management – by supplier, with RED FLAG marking
Key technological features of Ready Contracts include:
eAlerts – so you never miss a deadline, delivery or decision point
Unique workflow process design – ensuring your new system matches your needs, not the needs of the system
Direct supplier inputs designed to build process integrity, compliance, probity and safer risk management – to offer less risk & strengthened compliance with real-time audit trail
Secure Enterprise Software as a Service architecture
Microsoft Gold Application Development Partner with over 6,000 hours testing before every release – assuring you of quality and consistency
Single data-entry input efficiency – improving consistency and saving time for everyone
Managing multi-party contracts and mulitple TIERS down your supply chain, not just a single prime contractor – to bring visibility and lower risk profiles
SRM database structure capable of capturing supply market intelligence, similar to sales teams’ CRM technologies – to build enhanced market awareness and speed strategic sourcing work
SaaS approach with modular pricing – meaning you only pay one simple annual fee to licence your system
In-house development team capability – meaning we can tailor the system to your exact needs at the outset or on an ongoing basis
Additional modules
All clients receive two additional modules, included within the system implementation:
Reporting
The Reporting dashboard module offers real time KPIs and reporting in a state-of-the-art dashboard display.
Documents
The Documents database and repository allows for safe storage of all key documents for each supplier’s engagement (including the signed contract and check-out check-in drafting functionality). The text search facility allows a client to search the system for single words – inclusive of scanned documents as well.
The real benefits of proactive contract management
Business outsourcing is still on the increase.
Today, it is not unusual to find organisations spending fully 70% of their income with third party suppliers for goods and services to help them, in turn, deliver their core services to the users of their products and services.
So, most organisations are, literally, depending upon their suppliers more and more.
And, ultimately, the MORE we outsource, and the LESS we directly control, the greater the risk we bear. Because, in the end, you cannot outsource RISK.
Indeed, as the GFC reminded us so dramatically, RISK is the biggest issue in business. And so, today, organisations of all sizes are working hard to manage risk out of their business – especially on their supply side, as organisations strive to assure vital supply lines in a world growing ever more complex and volatile.
The modern challenge for strategic procurement
What makes this task so difficult, is trying to achieve so much MORE for our organisations at the same time as assuring vital supply lines:
- To simultaneously manage down total costs – and yet still do MORE for LESS
- To avoid protracted delivery delays – and quality problems and cost blow-outs on vital projects
- To ensure safe and secure supply lines – under good governance with robust process and strong risk management
- To build sustainable supply lines with higher provenance integrity to assuage stakeholders – that is, build confidence about WHERE things come from, and HOW they get to us?
Yet these benefits are largely gained AFTER the contract is signed – in managing contracts. Not just in the upstream STRATEGIC PROCUREMENT work we do before signing a contract. Increasingly, the key to hard benefits realisation for many organisations dependent upon their supply base will be hands-on proactive contract management.
Trusted by 150+ clients across Australia & New Zealand
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