9.6.0 Release Features and Functionality (June 2019)

Contracts Module - Guaranteed Compliance with BuyerQuest Contracts 

Negotiated discounts can be leveraged as a strategic procurement advantage with the BuyerQuest Contracts Module, available in this June 2019 release.

As a Contract Lifecycle Management solution, the Contracts Module enables the creation and management of contracts and operationalizes them in the procurement workflow from purchase order to invoice. Terms are enforced throughout the full lifecycle, and business intelligence reporting tracks total amount invoiced against contract, in addition to total savings. Visualization of spend against the contract over time provides actionable information for spend management. 

Contracts may be created in the BuyerQuest platform and saved as draft or published. Contract terms can be set to accommodate three types of pricing discounts:

• Supplier level amount, where the discount is based on the total amount spent by all the users at the buying organization. Pricing terms can be defined in spend ranges.
• SKU level amount, where discounts are based on amounts spent against specific SKUs.  
• SKU level volume, where discounts are based on the quantity of the SKU purchased. 

NOTE: Clients planning to enable the Contracts Module must contact the BuyerQuest support team for assistance. 

Contracts Video

Watch the video for a details on how Contracts are created, managed, and manifested in the BuyerQuest platform.

Contracts Features and Functionality 

The BuyerQuest Platform enables easy Contract Creation with full support for variable contract types and pricing terms, configurable alerts, collaborators, notifications, attachments, comments, history, and ability to be saved as pdf. 

A Contract may be saved as a Draft while it is being created and becomes Open when Published. The platform supports file uploads and downloads of Contract pricing terms.

The Contract ID for items under Contract is displayed throughout the procurement workflow - on Product Listings, Product Detail Pages, Requests, and Purchase Orders.

Email notifications are sent to the creator and collaborators for key contract milestones, including expiration, manual close, and achievement of maximum spend amount. 

Create, View, Search, and Manage Contracts in Central Hub

All Contracts are accessible to permissioned users from the Contracts Grid, where they can be searched, filtered, and viewed. 

Contracts Integrated into Procurement Workflow

Contract IDs display in Request and Purchase Order pages and pdfs for line items that are included in a Contract at the time a Request is submitted. Contract ID display applies to items included in both SKU-level and Supplier-level Contracts. 

Contract IDs are also displayed on Product Detail and Product Listing pages. 

Budget Export Available

Budget export is available for purposes of review, reporting, and ensuring data integrity.

Budget Export is available as a new type in the Manage File-based Integration Export area. 

The export file includes accounting group, amount pending, and total budget and amount spent for each budget period. 

See Documentation Topics:
Budget Export

Budget Information UI Improved

The shopping cart page features a button to View Detailed Budget Information to provide clearer direction to users who need to review this information in the cart.