Oracle Procurement Cloud
Oracle Procurement Cloud modernizes procurement by standardizing, streamlining and automating the source-to-pay process through automation and social collaboration, while controlling costs and achieving higher margins.
Oracle Procurement Contracts Cloud
Oracle Procurement Contracts cloud is built on Enterprise Contract cloud with Standardized contracts to enforce Business policies using pre-approved clause libraries, templates and approved alternatives. Procurement contracts cloud Identifies deviations from defined standards, highlight risks, and enforces appropriate document approvals and
Improves contract visibility with a secure and searchable contract repository, renewals management, amendment tracking, and complete audit history.
Contract Life Cycle
The below diagram illustrates the complete Contact life-cycle in Procurement Contracts Cloud
Overall Procurement Contracts Capabilities
Complete lifecycle management of all contracts
Procurement Contracts – Key Features
Procurement Contacts Cloud helps Customers Gain complete visibility into agreements, shorten cycle-times, and manage compliance
1. Standardized Agreements: Establish standard language, compliant drafts, redline and compare against standards
2.Improve Visibility: Leverage a secure and searchable contract repository, renewal management, amendment tracking and audit history.
3.Ensure Compliance: Deviations reporting, exception-based approvals and contract deliverables.
Oracle Procurement Contracts Cloud – Potential Integration Approaches
Enterprise Contract Management (ECM) outbound integration can be leveraged for Integration with non-cloud purchasing systems. This integration consists of defining line level purchasing information on the ECM buy-intent contract such that it can be pushed out to one or more purchasing systems for execution.
• Real-time document redlining with MS Team/SharePoint
• Contract digitization, OCR and meta data extraction
• Contracts access via cloud Supplier portal
• Sourcing Award to Enterprise Contract
• Smart contracting with AI incorporated into key processes
• Improved Contract Expert Q&A guidance on identifying conflicts in business terms and Analyzing and extracting hidden obligations, liabilities and risks in existing contracts, or Optimizing discovery