Aavenir, a pioneer in Source-to-Pay Solutions on the ServiceNow platform, announces the introduction of pre-built workflows in its flagship product, Aavenir Contractflow, tightly integrating contract management with other Source-to-Pay processes.
Aavenir helps organizations worldwide transform procurement processes, reduce cycle times, and improve data insights with its AI-enabled solutions built on ServiceNow. Today, it announced the inbuilt integration of vendor onboarding and obligation management workflows with Aavenir Contractflow.
The combined contract management solution is a significant step towards delivering a connected Source-to-Pay experience. This move will boost the efficiency and effectiveness of sourcing and supplier performance management. The pre-built workflows will empower users to streamline the connectivity between processes by offering easy access to data and information. AI-driven insights from connected processes will further enhance contract risk and cost management.
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“The connected contract management experience will help Sourcing, Legal, Procurement, and Finance professionals realize ‘The Aavenir Difference’ with solutions on a single data model that seamlessly connect processes and data, and deliver cross-application insights without additional expensive technical integrations.”
Aavenir’s CEO, Jesal Mehta, stated, “The connected contract management experience will help Sourcing, Legal, Procurement, and Finance professionals realize ‘The Aavenir Difference’ with solutions on a single data model that seamlessly connect processes and data, and deliver cross-application insights without additional expensive technical integrations.”
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With this release, Aavenir’s customers can eliminate inefficient, manual back and forth between contracting teams, procurement teams, and suppliers, and now initiate vendor creation and onboarding, and requests for forms, compliance reports, and performance reports from within the Contractflow application itself. They can also gain centralized visibility into vendors’ PO’s, invoices, spend, and invoice submission SLA achievement – all at the contract level.
The latest release of Aavenir’s Contractflow also introduces a dedicated termination workflow with termination templates designed to facilitate a smooth and efficient contract termination process that aligns with the requirements of all parties involved. Additionally, the software incorporates AI-powered workflows at the contract level to streamline the process of identifying, assigning, and fulfilling contractual obligations, thus minimizing the risk of breaches or non-compliance issues.
The latest version is available now as an optional upgrade for existing CLM software users. Aavenir encourages all customers to use this powerful new tool to streamline their contract management process and improve their overall efficiency.
