Full Contract Lifecycle Management Solution for Large Airport Authority
In this case study we will look at the challenge, solution and benefits to a full contract lifecycle management solution for large airport authority.
INDUSTRY: TRAVEL
INDUSTRY APPROPRIATE: ANY INDUSTRY
DEPARTMENT: PROCUREMENT, LEGAL, FINANCE
Challenge:
The airport authority, through the RFP process, sought the delivery of a contract lifecycle solution, from pre-solicitation to RFx creation to posting and bidder submission to bid evaluation and selection to vendor onboarding and ongoing contract administration and contract closeout or renewal.
Solution:
The Pantheon team configured the contract lifecycle management solution in Odyssey. This included the automated creation of the solicitation/contract document. Automated posting to the bid website. Also created was the ability to select the winning bidder by individual or committee. In addition to automated onboarding of the vendor, including uploading all required documents, the contract administration function included a vendor portal for invoice uploading and validation, PO creation and integration of the payments made and status.
Benefits:
- The airport authority now has the ability to see the status of a contract, including alerts for contract expirations, etc.
- The authority can create full solicitation documents unique for the transaction in minutes and post automatically upon approvals.
- The authority and vendors can now see in one place a complete status on PO’s payments and contracts. Contracts extensions/additions can be created automatically and routed for approvals.
- Despite the numerous types of contracts, the Authority has, it now has a one-shop place for managing all contracts and solicitations.
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