You’ve found a vendor to engage, the Recommendation for Award has been created and approved (using Felix Vendor Management), and your organisation can successfully start the business relationship once the contract is signed.
Months later, you may need to refer back to an auto-renewal clause stipulated in the contract or want to double-check some critical milestones.
But where can that contract be found? Maybe it’s an attachment hidden deep within emails that you need to search for, or perhaps it’s been added to a shared drive that you need to filter through. And once found, you need to read through the lengthy file to find the information that you were looking for.
We heard that these were common scenarios, and the inability to easily find vendor contracts and supporting documentation was a huge pain point for our customers.
That’s how Felix Contracts was born.
Felix Contracts has been built, so you don’t have to leave the tool when searching for vendor agreements. It centralises these critical documents in Felix, making it your one-stop shop for vendor management and associated contracts. Now you can find contracts instantly, understand them at a glance, and easily track key dates and set reminders…without having to exit Felix.
Store any contract, from framework agreements to master agreements or even non-disclosure agreements, in Felix.
Upon uploading, select the vendor the contract belongs to so Felix can assign these contracts to that particular vendor within their Vendor Profile.
See contracts stored against a vendor in the Contracts tab of the Vendor Profile.
When Felix Contracts is enabled, your Vendor List looks a little different. Additional columns help highlight and visualise if there are active contracts against vendors and how many, as you can have multiple contracts within a vendor’s profile. Clicking on the Contract Count will take you through to the list of contracts sitting against that vendor (as seen in the image above), providing a quick way to navigate to the contracts from the Vendor List.
Easily see if a vendor has Active Contracts and the Contract Count from your Vendor List.
Once you have Felix Contracts enabled, your top navigation will feature an option for Contracts. If you want to view all contracts, not just those at the vendor level, you can get a holistic view by clicking this in the navigation to go to your Contract List.
Here, a Quick Search allows you to quickly find contracts by name or number, or you can use filters to drill down further and find contracts based on vendor, status, contract type, or owner. If you’re also using Felix Sourcing, not only can you assign contracts to a vendor, but you can also assign contracts to a Project – and a filter will allow you to search contracts by Project when in this view.
Use filters and search functionality to easily find contracts stored within Felix.
You will see a column for Compliance Valid. This is yet another way that Felix Contracts integrates with Felix Vendor Management, allowing you to see if the vendor’s compliance while managing your companies contracts. By providing clear visibility to staff on contracts and the associated vendors compliance, your company will help mitigate risk of potentially working with a vendor whose compliance is out of date. is up-to-date on this screen.
Although the Contract List provides one overarching view of all contracts, we know that some contracts contain sensitive information and should not be accessible by all users. Felix features permission controls so that you can restrict view access or edit access to specific teams or individuals, ensuring that confidentiality of documents is upheld where required.
Watch our on-demand webinar How smart contract storage begins with Felix where we take a closer look at the Felix Contracts module. See how you can centrally store contracts in an organised manner to better manage vendor relationships for better procurement outcomes.
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