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Oracle Modern Best Practice for Banking—Procurement
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.
Mobile. Social.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.
Mobile. Social.Ensure Policy Compliance
Enforce policy compliance with mandatory validation and approval. Maintain contract quality with templates formatted for consistent printing and electronic transmission.
Mobile. Social.Manage Deviations
Capture revisions during authoring and negotiation. Recognize important deviations from standard policies and route approval automatically.
Mobile. Social.Approve/Accept Contract
Route contracts through approval hierarchy based on preset rules. Manage e-signatures.
Mobile. Social.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.
Mobile. Analytics. Social.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.