Create and manage contracts at every level
Contract management helps project organizations take into account how project productivity, performance, labor, and inventory affect their growth and profitability throughout the project. It keeps tabs on communication, tracking, change control and other tasks.
As a cloud-based solution, Contruent Enterprise gives you access to your contract data, bid analyses and contract performance at any time, on any device.
Complete contract lifecycle management
Manage contract changes with audit trails
Enhance communication and collaboration
- Collect contract bids, perform bid analysis, and award contracts
- Add contract changes and send updated commitments for project reporting
- Evaluate contract performance and calculate accurate progress
- Record invoices and payments to complete contract transactions
- Accurately track, manage and pay for complete work
- Manage change through negotiation and approval
- Track progress to determine earned payment amounts
Staff Planning & Risk Management
Even fixed-price contracts are subject to change and need to be managed: baseline budgets, approved budgets, control budgets, and financial budgets. Contruent Enterprise offers staff planning for client personnel managing fixed-price contracts for Owner/Operators. Monitor who is charging their hours on what contracts and their utilization. Contruent Enterprise also offers risk management via its trends and risk register.
Track invoices and payments through contract management
Contruent Enterprise helps organizations track invoices and payments associated with purchase orders and contracts. Many contracts require payment certificates to be split into at least three types: Retention Release, Advanced Payments and Progress Payments. In addition to the standard types, Contruent Enterprise also supports mixed types.
For every payment certificate, users can submit the cost of work in place, recover advanced payments, recover retention, apply tax, and any deductions/discounts/penalties. In Contruent, this is handled at a pay item level, where each pay item is also linked to a cost control account, and the net certified values are auto calculated.