Oracle Modern Best Practice for Banking—Procurement

Create Effective, High Quality Contracts Faster
Create Effective, High Quality Contracts Faster

Contract Creation to Spend Compliance

With high-quality contracts, your organization is protected from third-party noncompliance and legal liability. Create contracts from a library of standard terms and conditions and tailor them to your risk control standards. Review, modify, and approve contract deviations via a secured collaboration on any mobile device. Determine contract effectiveness and improve negotiation with analysis linked to purchase transactions.


Author Contract
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Author Contract

Create contracts through guided authoring or by assembling preapproved terms and conditions for requirements including customer-issue-based Service Level Agreements and regulatory compliance such as the Consumer Financial Protection Bureau or the local equivalent.


Ensure Policy Compliance
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Ensure Policy Compliance

Enforce policy compliance with mandatory validation and approval. Maintain contract quality with templates formatted for consistent printing and electronic transmission.


Manage Deviations
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Manage Deviations

Capture revisions during authoring and negotiation. Recognize important deviations from standard policies and route approval automatically.


Approve/Accept Contract
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Approve/Accept Contract

Route contracts through approval hierarchy based on preset rules. Manage e-signatures.


Link Deliverables
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Link Deliverables

Gain fulfillment visibility by linking contracts to execution documents such as agreements and purchase orders. Track deliverables using status updates or transaction summaries.


Implement Spending Rules
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Implement Spending Rules

Automate order creation from contract suppliers. Monitor leakage via dashboard-driven view of contract utilization versus terms, leakage, and key performance indicators.


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