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Gain complete visibility into agreements, shorten cycle-times, and manage compliance with Oracle Fusion Procurement Contracts. A key part of Oracle’s Fusion Procurement and Enterprise Contract Management solutions, Oracle Fusion Procurement Contracts is the next generation application for superior contract management.
Organizations typically produce contracts that differ dramatically based on the supplier, category of purchase, and contracting officer involved in negotiating the document. Producing a low risk and high quality contract in this environment can challenge even the most dedicated procurement and legal departments. Are the right clauses and service levels in place? Did the right people approve? Are you going to get what you negotiated?
Oracle Fusion Procurement Contracts can help you take control of the contracting process, reduce risk, and achieve world-class results. As part of the Oracle Fusion Procurement suite, you can negotiate agreements with Oracle Fusion Procurement Contracts that follow your policies and deliver unprecedented visibility and compliance.
Oracle Fusion Procurement Contracts helps you create quality contracts faster and reduce risk with consistent enterprise standards, policies that govern their use, and flexible tools. You can boost contract quality by ensuring that your contract creators adhere to established contracting policies. You can use flexible approval rules to ensure that every contract gets the right amount of review. Oracle Fusion Procurement Contracts expedites the contracting process by automating these rules and policies, enabling your contract authors and legal department to focus energy on higher-value and higher-risk areas while streamlining routine agreements.
Oracle Fusion Procurement Contracts allows you execute best practices consistently across all of your contracting activity by establishing a library of standard contract terms and preapproved templates. Regional administrators can tailor standards for local regulations and translate them to a local language. Templates also provide consistent style and layout. Completed contracts may be output in PDF, hardcopy, or Microsoft Word format for consistent printing or email transmission.
Having visibility and staying on top of contract activity helps you maximize the value of negotiated agreements. Oracle Fusion Procurement Contracts allows you to quickly find contracts and related documents through structured search terms, free-text string searches, contract tags, as well as through enterprise-wide search engines. In addition to tracking the legal contract document, you can connect to the underlying purchasing agreement transaction in your execution system. This allows you complete visibility both to the contract itself and to its usage activity.
You will undoubtedly encounter situations in the course of negotiating a contract where either you or the supplier needs to change the terms. Oracle Fusion Procurement Contracts captures these updates easily in Microsoft Word and, more importantly, recognizes them as requiring special attention during the review and approval process. You can automatically add additional approvers and summarize the important deviations from standard policy. You can also track the deliverables and service level agreements captured in the contract and monitor the contract over its life, ensuring you’re realizing the benefits you negotiated.
"Oracle Fusion Procurement Contracts" is part of the Oracle ERP Cloud line of products, developed by Oracle.
Oracle ERP Cloud is a horizontal product. It offers functionality designed for usage across a wide variety of industries and business types.