Contract Renewal Automation
Orchestrate renewal workflows to prevent surprise costs or shutdowns.
Stay ahead of surprise renewals that contribute to unnecessary spend – and expired licenses that can shut down work unexpectedly. Tonkean automatically triggers workflows to orchestrate the renewal process so procurement teams can proactively manage spend on systems that are critical to business operations.
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Automated renewal calendars for optimized spend control
Equip procurement teams with custom renewal calendars and automated reminders for upcoming contract and license renewals. Automatically create and pre-populate renewal requisitions with supplier and product details from previous requests, eliminating the need to reenter data or sift through old documents or emails.
- Renewal data is pre-populated based on the original purchase requisition and supplier information
- Kick-off workflows based on renewal dates without waiting on a stakeholder to start the process
- Capture historical knowledge on past renewals to negotiate better terms
Centralized supplier information for greater spend control
Consolidate your most meaningful purchasing data into a single, configurable dashboard. Access contact details, payment terms, and insight into spend at all times.
- Easy integration with internal platforms and systems already in use
- Prevent information silos by integrating and streamlining related functions
- Automatically match invoices to purchase orders, eliminating duplicate invoice payments, fraud, and rogue spending.
- See integrations
Fully auditable transactions for stronger security and less risk
Ensure your organization always remains compliant with critical processes, policies, and controls and track internal checks in preparation for audits, drastically reducing the potential for human error.
- Comprehensive role-based access control
- Full audit log
- Item-level data retention policies
- Data encrypted in-transit and at-rest
- Flexible deployment options: public cloud, private cloud, and on-premise
