It’s critical to begin each supplier relationship with a clear understanding of cooperation conditions and use contract management in Precoro to store contracts for reference should any issues with delivery or service arise.
Contract management in Precoro will help you with the following:
- helps you to understand the scope of the procurement agreement and time frame,
- allows you to create a PO under a contract with a supplier - it reminds the supplier of their obligations,
- provides you with quick access to your contracts stored online in Precoro instead of excel or paper documents or a folder with documents on your computer.
To add a supplier contract:
1. Go to Company Contracts and choose Add Contract.
2. Choose a supplier that you have already added in Manage Suppliers --> enter the important data for your contract:
- legal entity,
- contract number,
- start and expiration date.
If your contract with a supplier is extendable, please specify this on this page so it will prolong the contract automatically.
Important to know: You can add files to your contracts.
Here you can store a contract scan, legal documents, or prices.
It will help you to find out all the necessary data quickly.
After the record of your contract is created, you can choose it in a PO.
Precoro will keep you updated with current contract time frames, so you won't forget when your contracts end.
We will notify you. Check the box next to “Expiring Contracts” in the Email preferences.
On the 1st day of each month, we will send you a list of contracts set to expire within 60 days or less. This is beneficial when you have a lot of suppliers.