Scout Adds Vendor Contract Management Module and Expanded Language Offerings

Scout RFP, a provider of cloud-based strategic e-sourcing solutions, has launched its Summer '17 release. As part of the new release, the company has added a vendor contract management solution called Scout Contracts that helps enterprises to manage supplier contracts.

In addition, in response to the needs of its growing global user base, Scout has also expanded its language capabilities. In addition to English, Spanish, and Portuguese, Scout’s e-sourcing platform is now available in Chinese and German.

According to the vendor, Scout Contracts provides a comprehensive, enterprise-wide view of supplier activities, overlapping agreements, and similar terms, all while collaborating across a simplified workflow that engages all necessary stakeholders in real-time. In addition to workflow management and supplier visibility, Contracts delivers custom milestone notifications that give stakeholders the ability to renew, source, or cancel a contract in real-time. It also allows sourcing teams to better manage supplier contracts, eliminate risks, and review all data across types, tasks, agreements, end dates, and terms.

The addition of the  vendor contracts module to Scout’s sourcing platform provides a comprehensive solution for contract management is aimed at enabling teams to see contracts in the context of the supplier's other contracts, ensure that multiple departments aren't negotiating separately, and reduce overlap. Scout Contracts also bridges the gap for contract auditing, housing all contract data in a centralized location with an auditable communication trail. Working entirely within the Scout platform, sourcing teams can move from sourcing event to contract, creating an end-to-end process.

Organizations are looking to identify more accurate data-driven opportunities in contracts, said Chris Crane, Scout co-founder and vice president of product. The combination of cloud-based data and cross-enterprise collaboration that Scout offers will enable the transparency and usability needed to manage contracts and the supplier/stakeholder relationships every step of the way, Crane noted.

The introduction of Contracts follows the launch of additional Scout sourcing modules, Pipeline and Intake, which provide real-time visibility and control over spend.

For more information on Scout Contracts, go to www.scoutrfp.com.