Solutions for Procurement
While every company wants to standardize contracting processes, it’s still too far from reality. Procurement and contracting teams spend a lot of time going through the master services agreement, statements of work, service level agreements, rate cards and payment milestones every time a new project is initiated, or a change order is created.
Xybion provides a contract compliance solution that automates rules-based checks to reduce manual review by up to 70%.
Procurement Workflow
A typical statement of work (SOW) may take 30 minutes to review manually. With the Xybion XDP Predictive Compliance solution, you. can review and compile status reports in under a minute, including:
- SOW/MSA/contract review
- Vendor SLA review
- Invoice review and invoice compliance with SOW
- Rate card comparison
- Vendor quality scorecard
- Supplier risk management
- Supplier audits
Vendor Compliance Reports
Monitor vendor SLA commitments with status reports that can be automatically generated according to your timeline.
Vendor / Third Party Audits
As all the suppliers need to be qualified for their work, most companies use quality, compliance and security audits to ensure their relationship is derisked. Xybion third-party audit solution helps companies to automate the audit process, standardizes ways of getting audits done, ensure follow-ups and closure. A lot of pre-work is done using Xybion automation tool to find of the high-risk audit areas which helps the auditor to prioritize. Xybion solution offers documentation and CAPA solutions, as required.
