Contracts 365 for Energy Companies and Public Utilities™ is a comprehensive solution to address the contract management, bid management, and supplier management challenges faced by organizations operating in these markets. Contracts 365™, the leading contract management solution for Microsoft customers, is leveraged by numerous organizations in these important industries to address these business challenges.
Energy Companies and Public Utilities work in conjunction with numerous vendors, suppliers and contractors to bring their services to market. Attracting and managing this large number of disparate entities in a highly regulated marketplace is a challenge. Prior to engaging in contract negotiations, Energy Companies and Public Utilities need a streamlined approach to attracting, registering and qualifying the suppliers and contractors from whom it will purchase goods and services. Contracts 365 for Energy Companies and Public Utilities supports the following business requirements:
Upon down selection, award or on an ad-hoc basis, Energy Companies & Public Utilities need a streamlined approach to create, negotiate and manage the contracts that will govern their procurement of goods and services. Contracts 365 provides an end-to-end contract management solution and supports automatic contract generation for both solicitation and non-solicitation based requests, automated contract approval workflows, a centralized repository for all contract related data, automated reporting and escalation, and both simple and complex compliance and obligation management. Additional business requirements which can be supported using Contracts 365 include:
The conclusion of the selection and award process marks only an initial step in the overall supplier management challenges faced by Energy Companies and Public Utilities. The nature of these highly regulated industries requires both a proactive and reactive approach to ensuring the compliance of the selected vendors, suppliers and contractors. It is important for Energy Companies and Public Utilities not only to understand ongoing performance, but also to ensure compliance with the qualifications and attestations made during the registration process as well as the commitments made throughout the contracting process. When commitments are missed, a process to ensure that the appropriate parties are alerted and that the required information is escalated to management is critical. Contracts 365 for Energy Companies and Public Utilities supports the following:
Energy Companies and Public Utilities share many commonalities; one is the need to have an optimized process for managing their vendor and supplier bid process. Others include additional requirements to support their similar contracting and supplier performance process. Implementing the appropriate processes, procedures and technology to ensure that these Energy Companies and Public Utilities are optimizing, managing and ensuring the compliance of their supply chain is critical.
The foundation of this end-to-end process is a robust contract management software solution. Contract management applications such as Contracts 365 allow organizations to manage their entire contract lifecycle – from contract creation to post execution management. By coupling this functionality with supplier management functionality present within Contracts 365, Energy Companies and Public Utilities can proactively and reactively manage their overall supply chain. District Representatives, Procurement Officers, Auditors, Managers, and Executives as well as the Commission can have direct visibility into the Supplier Bid and Contracting Process as well as various compliance initiatives related to Supplier Performance.