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News · February 14, 2023

Aavenir Contractflow connects contract management to the rest of source to pay

Vendor onboarding, obligations and termination, started from the contract itself. By Sonal Mehta.

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The announcement

DALLAS, February 14, 2023. Aavenir announced pre built workflows in its flagship product, Contractflow, that tie contract management directly to other source to pay processes. The release builds vendor onboarding and obligation management workflows into Contractflow on ServiceNow.

The combined solution is a step toward a connected source to pay experience. It makes sourcing and supplier performance management more efficient, gives users easy access to data across processes, and uses AI insight from connected processes to improve how contract risk and cost are managed.

What is new

  • Onboarding from the contract. Teams can start vendor creation and onboarding, and request forms, compliance reports and performance reports, from inside Contractflow, without back and forth between contracting teams, procurement and suppliers.
  • Contract level visibility. One view of each vendor's purchase orders, invoices, spend and invoice submission service levels, at the level of the contract.
  • A termination workflow. A dedicated workflow with termination templates for ending contracts in an orderly way that meets every party's requirements.
  • AI obligation workflows. AI at the contract level helps identify, assign and fulfill contractual obligations, reducing the risk of breach or non compliance.

The release was made available as an optional upgrade for existing Contractflow customers.

What the CEO said

Jesal Mehta, Aavenir’s CEO, said the connected contract management experience would help sourcing, legal, procurement and finance professionals realize “The Aavenir Difference,” with solutions on a single data model that connect processes and data and deliver cross application insights without additional, expensive technical integrations.

Contractflow today

Contractflow now works with Onboardingflow, formerly Vendorflow, and Obligationflow on one data model, with Aavenir AI reading contracts and a person approving every AI result. See Contractflow.

About Aavenir

Aavenir is an enterprise contract intelligence platform for procurement, legal, IT, finance, and sales teams. Aavenir AI reads every agreement an enterprise has signed, Aavenir Atlas answers questions across the whole portfolio, and its apps act on contract terms from sourcing to payment, natively on ServiceNow or standalone. About Aavenir.

Schedule a demo

See your contracts run on one record.

  • 1 A 30 minute walkthrough Built around your team, whether that is procurement, legal, IT or finance.
  • 2 Your contracts, not ours Bring a few sample agreements and watch Aavenir AI extract and review them.
  • 3 ServiceNow or standalone We show the deployment that fits the systems you already run.

Prefer to talk first? Contact the team.