Agiloft Launches Module Add-On to CLM Platform for Improved Sourcing and Supplier Information Management

REDWOOD CITY, Calif., May 19, 2021 /PRNewswire/ -- Agiloft, the global standard in no-code contract lifecycle management (CLM), today announced the release of its Sourcing and Supplier Information Management module, a new add-on to reduce sourcing cycle time, automate supplier onboarding, and ongoing compliance. 

"Our next-generation module provides advanced tools in the source-to-contract process," said Andy Wishart, Agiloft chief product officer. "As the latest step in the accelerated development of our platform, this release further empowers sourcing with contract data. Our customers can now extend their CLM solution with new functionalities that reduce the cycle time from initiating a sourcing event (RFx) to a signed contract and which adapt easily as their business needs evolve."

The new module highlights include:

Streamlining the source-to-contract process by centralizing the creation, approval, collaboration, and decision making for sourcing events: 

• Create standardized templates with pre-approved language for RFIs, RFPs, and RFQs. Customize supplier questionnaires and templates.
• Invite suppliers to submit responses and quickly collect and collaborate around the submission.
• Allow stakeholders to appraise, score, and compare suppliers for their projects.
• Stay on schedule with notifications and alerts to team members and suppliers.
• Convert awards into contracts with the click of a button, using approved terms and conditions.

Automation of supplier information management to save time and ensure suppliers meet all requirements: 

• Allow prospective suppliers to register and provide the necessary data and documents through a vendor portal.
• Compile data to verify compliance with business criteria and policies.
• Automate supplier contract notifications and requests for documentation.

Access to unified Source-to-Contract platform. Tap into a unified experience with Agiloft's CLM platform to quickly identify existing suppliers of goods, services, or commodities and then adapt your process as business needs change. 

• Gain visibility into the full spectrum of supplier relationships and contract terms to identify areas for simplification and opportunities for volume discounts.
• Get alerts for upcoming expirations and identify a pipeline of new sourcing opportunities.
• Provide users with a unified sourcing and contracting user experience.
• Configure the Agiloft no-code platform to precisely fit and quickly adapt to your needs.

"As the first of many add-on modules extending CLM to adjacent processes, we are continually increasing the value of Agiloft CLM for the enterprise," said Eric Laughlin, Agiloft CEO. "As the only CLM platform to provide no-code AI capabilities, Agiloft offers unmatched possibilities for customization and automation of complex contract and commercial workflows—all without needing to write a single line of code. The new capabilities of this latest release take CLM to the next level, helping sourcing and supplier management deliver more business impact."

For more detail on this product release, join us for our Sourcing and Supplier Information Management release webinar on May 19 at 11AM PDT. Sign up for the release webinar or watch the replay here.

To learn more about Agiloft's Contract Management Suite, visit the product information page.

About Agiloft
As the global leader in agile contract lifecycle management software, Agiloft is trusted to provide significant savings in purchasing, enable more efficient legal operations, and accelerate sales cycles, all while drastically lowering compliance risk. Agiloft's adaptable no-code platform ensures rapid deployment and a fully extensible system. Using contracts as the core system of commercial record, Agiloft's CLM software leverages AI to improve contract management for legal departments, procurement, and sales operations. Visit www.agiloft.com for more.  

Media Contact:
Jeffrey Miesbauer
Agiloft
650-587-8615 ext 4003

SOURCE Agiloft