VORTAL’s collaborative contract management solution, helps its users to effortlessly manage the entire life-cycle of a contract. The solution enables an easy, quick, and consistent contract creation, largely automated, based on data collected during the eSourcing and negotiation events, while ensuring complete control over contract terms, approvals, and operations. VORTAL Contract Management offers clients with global contract visibility and access to the intelligence held within either active or archived contract portfolio that assists in enhanced decision making. With complete information on exposures and vulnerabilities, the solution enables contract managers to mitigate risks actively. The solution also enables enforcement of controls to standardize contract language and terms. This, in turn, ensures that all terms and conditions that were agreed to during negotiations are being complied with once the contract is active while tracking compliance to regulations affecting companies across every industry and geography. “Our contract management may be used as an integrated module of VORTAL eSourcing Suite, a solution to manage buying processes, or implemented as a standalone solution, ready to be integrated with external IT systems,” explains Miguel Sobral, EVP, VORTAL.
As the VORTAL platform controls, manages, and monitors the progress of all the contracts simultaneously, it also sports an outstanding feature called Cross Contracts Monitoring. Several different contracts for same projects can be connected to establish dependencies and constraints, which, in turn, notifies a customer who can act accordingly if an execution of a contract impacts another one.
Over a period of 16 years, VORTAL has successfully delivered its solutions to over 3000 public and private sector companies. In one such instance, they were instrumental in helping the City of Vienna, the Portuguese National Healh Agency (SPMS) and Colombia CompraEficiente, The Colombian National Agency for Public Procurement. The government agency was in need to implement a transactional public eProcurement platform. to be used by the whole Country, both at Central Government and Local Administration. VORTAL’s platform helped the agency to launch a fully compliant platform for national legislation and specific requirements that could take advantage of previous learning implementing the state-of-the-art technology. The new platform, fully integrated with other national systems went live and helped buyers and suppliers use a single integrated electronic purchasing system for their business.
Our solution is tailored for proficient and collaborative project management by managing related contracts to streamline project performance, contingency, and risk management
VORTAL wants to penetrate deeper into mainstream industries like engineering, construction to sail ahead and focus on multi-layer contracts and develop technologies around it. In today’s world where information and its transparency dictate everything ranging from planning to demand aggregation to negotiation, VORTAL wants to keep its flag flying high by assuring its clients with information integrity and traceability which will decrease litigation, improve communication, and supply chain optimization.