The Procurement of milestone, deliverable and hourly based contracts have their own set of unique needs. Whether it be separate geographical, operating and business units or statutory and regulatory demands, engaging and managing suppliers and can be a challenge. Covendis developed a Vendor Management Solution (VMS), an intuitive and flexible web- based platform, to help companies and organizations easily engage and manage their SOW suppliers. By streamlining, standardizing, and automating the entire source to pay process, companies and organizations increase their visibility, control, and real-world savings.
The Covendis system allows companies to upload into the system Milestones and Deliverables from standard project management tools (like MS project) or use our standard template. Once uploaded, the system then supports the entire requisition to payment process in a closed loop environment. When change orders are required, our clients simply upload their updated project plan. The system identifies the changes, creates change orders, which are reviewed by the Covendis SOW team for accuracy, and then released to the client for approvals.
When you need a temp, our intuitive user friendly system allows you to create a requisition in seconds and post it out to your chosen suppliers – or have Covendis do it for you. From there, you can review candidates, negotiate final details, onboard, manage and have payment made all through the system. This saves you time, money and eliminates the potential for billing errors.