Hopefully you’re getting some much needed time off to recharge after what we can all agree has been a challenging year. To make the most out of your down time, you’ll want to tie up loose ends so you can start fresh in the New Year. Check out these 5 tips for wrapping up procurements and preparing for the new year!
1. Check contract end & expiration dates
For existing contracts, check end dates. You’ll want to deal with upcoming contract end dates, fixed pricing dates, expiring insurance certificates, etc. before any holiday closures. Leave some lead time to contact suppliers for new insurance or contract documentation, negotiate contract renewals, and update information.
For bids&tenders clients using the Contract Management feature, automatic notifications of these contract end dates and expiries are sent to suppliers well in advance, with a prompt to upload renewal information. The purchasing team is also notified automatically when new certificates are uploaded and prompted to approve them.
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