ContractX Sub Contract Management system facilitates increased contract accessibility by eliminating physical contract submissions. The solution allows sub-contractors to access all documents in a centralised database eliminating the necessary for manual submission. Contractors are able to verify that their subcontractors are working with the most up-to-date contract terms and conditions. The construction software guarantees that subcontractors fulfil the requirements of their contracts.
The construction software enables subcontractors to use their mobile devices to access all the information related to them. As a result, all authorised sub-contractors have constant and quick access to the entire contract provisions from any location and at any time. The construction software digitizes and stores all contracts into a central database, providing a way for contractors, stakeholders, such as legal and compliance departments, to search for and review contracts, eliminating the need to manually locate and sift through stacks of paper manually. The solution also manages access to sub-contractors so that only authorized people in an organization can view any particular contract, improving security.
The construction software also provides alerts to key contacts when sub contract expiration dates are nearing, allowing businesses to decide whether to renegotiate or cancel their agreement. The solution also avoiding them being locked into contracts automatically rolling over from year to year at increasingly unfavourable terms.
The construction software can be used to track current spending made by sub-contractors, by integrating it with other financial or procurement software systems. Contractors can also use the solutions to track the costs and expenses for each successive contract stage as they are delegated to subcontractors. The procedure assists in the analysis of expenses and costs in order to control the flow of cash spent on each contract.
Key Functions and Features
The ContractX Subcontract Management system module ensures that subcontracts are able to manage consistent contract functions, reducing the contract and business risk, and increase profitability. The solution facilitates providing an overview of subcontract data and information and streamlines the manual process of creating and submitting construction project proposals.
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