Effective contract management has emerged as a crucial function to improve profitability, support compliance and manage risk. Yet, many companies continue to struggle to locate their existing contracts let alone manage them. Complex legal procedures and shifting regulations make it difficult to create best-value agreements that simultaneously maximize profits and minimize risks. FormFast’s contract management solution helps hospitals management these challenges.
The FastFlow Contract Management application is designed to help you overcome these challenges by providing full visibility into contracts, enhancing compliance and reporting, and streamlining the contracting and administration processes. With support for all agreement types, online authoring and negotiation features, and automated performance tracking, alerts, and reporting capabilities, FastFlow Contract Management helps maximize the value of contractual agreements and improve compliance. Standard features of FastFlow provide a powerful tool for contract management:
- Workflow rules
- Uses familiar forms for workflow and data collection
- Data integration to reduce redundant data entry
- Data reporting for analysis
- Flexible data reuse
The results of utilizing a contract management solution include shorter contract approval processes, a single repository and system for storing contracts, and control over the contract approval process. Greater control and information availability allows you to leverage existing contracts and assure that pricing and term agreements are met consistently.
- Adhere to contracting policies and procedures
- Eliminate rough contracts
- Make contracts, terms, and approved vendor lists easily available