Agreements tab - viewing active agreements

Overview

Agreements are formal, legally binding contracts between a business and its vendors or suppliers. These documents outline the terms and conditions for the provision of goods or services, including pricing, service levels, renewal periods, and other obligations.

Within vendor management systems, such as Spendflo, agreements help track and manage vendor relationships by documenting commitments, ensuring compliance, and setting the foundation for financial transactions. On the platform, the Agreements tab displays all active contracts tied to a vendor, allowing teams to track and manage contract terms, renewal dates, and associated costs.

Key highlights

Spend Summary Graph: This showcases a visual overview and breakdown of all Active vs Contracted Spends. Additionally, the contracted spend is amortized based on billing frequency. However, the breakdown displayed is available only for 12 months. For other date ranges and custom reports for wider date ranges, click on the “Insights” button on the top right side of the graph. This is redirected straight to the Spend Analysis report within the Reports module of the platform, providing a dedicated insight as required.

Agreements Table View: Followed by the Spend Summary section, users can also view the related agreements for the chosen vendor. This is updated in real-time and ensures to provide a well-rounded summary of the vendor agreements, start and end date and the upcoming billing cycle to be on top of them.

Key Benefits

Contract Overview: View all active agreements with a vendor in one place.

Renewal Stage: Stay on top of agreements renewals and deadlines.

Cost Tracking: Monitor agreements costs and payment terms.

Contract Compliance: Ensure agreements are up-to-date and active.

For more details about agreement listing, click here. And learn more about the spend tab within the vendor details page, click here.