Vendor Contract Worksheet

Vendor Contract Worksheet

Every company needs goods and services from vendors to run its own business. Having a vendor contract in place is very beneficial when it comes to defining terms and conditions between your company and the vendor.

Having a well-drafted vendor’s contract is good for both your business and the vendors you’ll deal with as it sets the standards of goods or services expected from the vendor. Use this free worksheet draft as the vendor contract is always recommended as the companies can make sure that the contract covers your interest adequately and has no loopholes for the vendor to escape their liability. 

To know more, access this worksheet by completing the form and clicking “Download Now.”

Vendor Onboarding Qualification Questionnaire

Vendor Onboarding Qualification Questionnaire - Worksheet

You have sourced information on potential vendors from RFIs. Now is the time to onboard the right suppliers. The first thing you need to do is evaluate the suppliers and see if they are the right fit. If you are a buyer, sourcing the best suppliers and onboarding them is a crucial part of every project you oversee. This is irrespective of whether you are updating your company’s IT hardware or finding a new vendor in your supply chain. Using a proper evaluation system, as part of your vendor sourcing and onboarding strategy, you can streamline the process of obtaining a list of suppliers that fit your needs. 

If you are looking to understand risk and compliance within your supply chain, you can use this standard assessment available to help data map your existing and new suppliers.

Download this ready-to-use editable and customizable worksheet and ask the right questions to the suppliers before you onboard them. The vendor onboarding qualification questionnaire aims to give you an idea of the high-level, critical questions you should consider asking your vendors.

To access this worksheet, fill the details in the form and click on “Download Now.”

Supplier KPI Worksheet

Evaluation of supplier performance is a crucial aspect of Supplier Management. Does your organization evaluate supplier's performance on an ongoing basis? What supplier KPI metrics do you consider? Do you have any standard supplier scorecard system in place? Even if you do, yet, having to monitor each aspect of supplier management can easily be under-resourced and neglected. Even when performance is evaluated, the KPIs often do not show the complete picture.

Download this ready-to-use editable supplier KPI worksheet to start measuring your suppliers' performance, positively impacting your organization, and turning procurement into a value driver. This will also assist your procurement managers in minimizing risk by seeking new suppliers with the intention to seal gaps where existing suppliers may fall short.

Procurement Process Checklist

Procurement Process Checklist

Various factors influence a company's procurement process, like the company's size, industry, available human resources, and organizational structure. Due to all these factors, a standard procurement process is difficult to define at times. Here’s the entire procurement process is broken down into a step-by-step checklist that procurement managers and sourcing managers can utilize.

By using this procurement process checklist, designed by Source-to-Pay experts, you can avoid delays and ensure that internal processes are met. Procurement managers and officers can utilize this procurement checklist to cover all necessary considerations in procurement. This checklist is divided into seven steps that guide procurement practitioners on implementing this framework at each Step, from assessing needs to managing contracts.

Software Contract Negotiation Checklist

Software Contract Negotiation Checklist

Are you looking for a new or renewed Software Contract or Enterprise Agreement for your company? You’ve landed upon the right place. Understand how to enter your software contract negotiation with confidence. Often, software contract negotiations revolve around pricing (and discount), terms and conditions, and support. When negotiating a new software contract, the bottom-line discount approach can result in dollars being left on the table. In many circumstances, it can end up spending more money over the course of the contract.

Entering into a Software Contract Negotiation? Software negotiation is a team effort that requires tons of preparation, a solid strategy, and even a pinch of luck!

Ace your software contract negotiation with this checklist designed by experts.

Access this software contract negotiation checklist by completing the form and clicking “Download Now.”

Contract Renewal Checklist

Contract Renewal Checklist

No, the contract manager should not take contract renewals lightly. As part of your vendor relationship management, it is essential to stay on top of upcoming contract renewals. Long before your contract expires, you should be planning your approach to the contract close-out phase. Sometimes it can be the most mundane of contracts that get automatically renewed year after year that can cause the most headaches. To ensure the smooth handling of contract renewals, contract managers should use a simple checklist that can go a long way to ensuring there are no nasty surprises in renewed contracts. Additionally, advanced contract management software, such as Aavenir’s “Contractflow” fully automates the process of contract renewals, by providing you visibility into upcoming renewals, through automated alerts and notifications.

Remember, contract renewal is an excellent opportunity to review your agreement and work with your vendor to negotiate missing provisions, pricing incentives, and improvements to services. A contract renewal checklist can help you make the best contract decision for your business.

Should you renew your contract?

Access this contract renewal checklist by completing the form on the right and clicking “Download Now.”

Vendor Evaluation Worksheet

Vendor Evaluation Worksheet (Vendor Performance Scorecard)

For procurement professionals, the job does not get accomplished when the vendor contract is signed. The actual game begins post-signature. Building vendor relationships is a crucial skill, and managing vendor performance is vital. For many, a vendor scorecard provides a way to bring objectivity to the vendor evaluation process. Vendor scorecards facilitate businesses to quantify, track and manage a vendor’s performance. Use this ready-to-use worksheet to evaluate the overall performance of your vendors based on Carter's 10 Cs model. This vendor evaluation worksheet helps either you are already engaged with vendors or are planning to work with them. 

Instructions to use this vendor evaluation worksheet:

  • Include all information associated with your vendor. 
  • Then, apply a strength factor- 5 being the most decisive factor, to each item you evaluate. 
  • Total each column once you have completed the evaluation. 
  • Add up the columns to arrive at a final total. Compare the score against other similar vendors’ scores. 

This will help you perfectly evaluate and benchmark your vendor’s performance.

Access this worksheet by completing the form and clicking “Download Now.”

Vendor Onboarding and Termination Checklist

Vendor Onboarding and Offboarding (Termination) Checklist

Every vendor relationship should also have a natural lifecycle, beginning with initial identification and engagement, qualification and risk management, evaluation, selection and onboarding, performance and risk management, vendor relationship management and finally ending with contract termination and offboarding. The vendor onboarding process is a key part of any organization’s third-party risk management program and hence is given specific attention on a constant basis. However, offboarding is equally important. If done poorly, it can leave your company exposed to data breaches, compliance failures, unnecessary costs, loss of valuable equipment, and potential litigation.

Creating a vendor onboarding and termination checklist is a simple technique to prevent a vendor failing to be onboarded in your accounting software while also ensuring cyber and physical security as well as safety compliance.

Access this checklist by completing the form on the right and clicking “Download Now.”

Aavenir RFPflow - Request for Proposal Management on ServiceNow

Aavenir RFPflow - Request for Proposal Management Solution Built on ServiceNow

With its advanced capabilities, the Aavenir RFPflow solution can help ServiceNow customers to accelerate the speed and accuracy of multi-vendor sourcing operations.

Aavenir RFPflow solution leverages ServiceNow’s enterprise-class workflow management capabilities to streamline RFP Management and Source-to-Contract processes on the NOW platform.

Access this Product Brief by completing the form on the right and clicking “Download Now.”

Reece Streamlined Contract Storage and Approvals with Aavenir

About Company

Listed on the Australian Securities Exchange (ASX: REH), Reece Group operates Australia’s largest plumbing and bathroom supplies business for more than 100 years. All plumbing, bathroom, and HVAC-R products are sourced both locally and internationally from over 600+ locations across Australia and New Zealand. The group distributes plumbing, waterworks, and HVAC-R products to residential, commercial, and infrastructure customers through 800 branches in Australia, New Zealand, and the United States.

Contract Management Challenges

Reece handles a variety of contracts including procurement, sales, and other commercial contracts. Most of Reece’s contracts are 3rd party paper contracts. As a result, contracts were increasingly hard to manage and they had to spend significant time reviewing the contractual terms and amendments.

With the increasing contract volume, Recee’s team started facing difficulty in accessing contracts as there was no systematic way of storing them. Contract managers had to spend a great effort in monitoring contract status, so they needed a solution that can provide complete visibility into the contract and its lifecycle stage.

 

"It’s difficult to manage the process of contracts when it is a manual one and you have a huge variety of contracts, in a variety of different formats. Our contracts vary depending on the many different types of contract (considering procurement or customer, product,  business unit, and other factors), so we needed a solution that was flexible, efficient, and collaborative.

By implementing Aavenir, Reece was able to standardize contract workflow that was formal and robust, but still flexible and user-friendly. We wanted a faster contract turnaround time, and Aavenir didn’t disappoint. I would absolutely recommend Aavenir for all ServiceNow Customers.”

- Alison Prior
Procurement and Contract Manager
at Reece

 

The Solution: Aavenir Contract Lifecycle Management for Retail

Reece utilized the ServiceNow Platform for a number of tasks. When Recee’s team found Aavenir Contractflow, an enterprise-class contract lifecycle management (CLM) solution readily available from the ServiceNow App store, the immediate reaction was a positive one as Reece was already familiar with Service Now and it would make the process a lot easier to integrate. Alison and her team were  thrilled with the quick realization of outcomes:

Centralized Contract Storage:

Reece could consolidate all contracts including 3-rd party paper contracts under a single, global, centralized repository on the Now Platform.

Flexible Workflow:

Aavenir Contractflow offered the most flexible workflow engine that can adapt to their needs and future requirements as well. They could quickly upload 3rd party contracts and drive them through the entire process of review, approvals, signatures, and managing renewals/terminations on a unified platform, thereby reducing contract turnaround time.

Contract Analytics Dashboard:

Aavenir Contractflow dashboard provides complete visibility of enterprise-wide contractual processes. They can monitor in real-time – all contracts with pending approvals, pending signatures, upcoming renewals/terminations, expired contracts, etc., and take immediate actions.

Key Results

Reece wanted to make sure contracts were managed and trackable as part of a process robust enough to handle rapid growth. Taking out the manual steps in the process enables the process to be as frictionless and quick as possible, especially as the contract managers are interacting with both legal and non-legal people throughout the process. Another great benefit of the digital setup is vendors can e-sign contracts from anywhere anytime.

Future Roadmap:

Reece wants to leverage AI features of Aavenir Contractflow to understand the commonly used clauses (or most negotiated) and create a clause library from that (or something to that effect) Reece would like to integrate with Salesforce so that they can import all customer data from Salesforce and eventually save the signed contract (with metadata) in Salesforce.