22 August 2002 | Robin Parker
E-procurement solutions specialist Tranmit has developed a stand-alone tool for procurement professionals to manage contracts with key suppliers.
Sprinter Contract Manager automatically alerts purchasing managers and other relevant parties when active contracts are due for renewal.
The browser-based solution, which stores documents centrally, aims to provide support on an ongoing basis, with a mechanism for evaluating and comparing suppliers at any stage of a contract's life cycle.
Evaluations can be based on a wide range of criteria, including delivery record and customer service, and purchasers can send alerts to collect such data at pre-defined intervals.
The solution is an extension of Tranmit's purchase-to-pay (P2P) suite, which contains modules for requisitions, orders and invoice approvals.
It is primarily offered as a stand-alone tool, but the UK Atomic Energy Authority, an early adopter, has integrated it into the P2P suite.
Mary Kingman, commercial director of Tranmit, said the new tool's database of historical contract information is a particular strength.
"All appraisals are set up for further analysis, protecting contracts if people leave a company," she said.
"This provides relevant information throughout the system, on which companies can just change the details of the owners of the contracts."