Oracle Procurement Contracts is the enterprise application that creates and enforces better purchasing contracts. It is a key component of Oracle Advanced Procurement, the integrated suite that dramatically cuts all supply management costs.
Despite the importance of contracts governing supplier relationships and the huge sums of money involved, the process of managing contracts is error-prone and lacks meaningful controls. Unfortunately, without proper oversight, contract negotiations can be lengthy and unpredictable — and the resulting contracts can expose an organization to risk. And even the best contracts can fail to deliver the expected savings because of an organization's inability to drive enforcement. Oracle Procurement Contracts allows you to take control of your contract lifecycle, from authoring and negotiation through implementation, enforcement, evaluation, and closeout. Business stakeholders, procurement experts, and legal professionals can quickly author contracts that comply with corporate standards. Plus, your company can measure compliance to ensure that negotiated savings hit the bottom line.