GEM/CARAT™ – contract management / approval automation

GEM/CARAT is a template solution for rapid deployment of Contract Review and Approval automation, witch institutes collaboration among all internal groups responsible for contract activity, provides central electronic repository for all contract documents and can be rapidly modified to accommodate specific requirements

GEM/CARAT streamlines the entire contract lifecycle from proposal/initial negotiation, contract creation, authoring and managing thru searching, tracking, reporting to archiving and retention for any type of contract or business


GEM/CARAT™ main features includes

  • Proposal templates
    • Ensures proposals conform to company standards
  • Contract development templates
    • Create contracts in MS Word by answering conditional questions in a web-based wizard, allowing experienced users as well as non-contract professionals the contract writing ability to create and author contracts with company-approved clauses and contract language
    • Ensures each new contract conforms to company standards
  • Pre-approved contract language
    • Increases compliance
    • Reduces possibility of missing or inappropriate language
  • Pre-defined review and approval business process
    • Ensures collaboration
    • Increases compliance
  • Provides for non-standard contracts
    • Enforces more stringent review and approval business processes
    • Helps to meet compliance objectives
  • Multi-level security
    • Integrated with enterprise access control
    • Individual and group access and permissions
    • Strong network (128 bit SSL) and data security.  Enveloped in a uniform security model, the contracts and associated data stored within the CPM Solution are protected by the same rules and permissions whether accessed through the browser, PDA, Web Services, or reports
  • Integrated with enterprise CRM system
  • Integrated with enterprise ERP system
    • Reduces errors and delays in invoicing
  • Integrated with enterprise procurement system
  • Personalized dashboard
    • Contract status, open tasks, searching, and reports
  • Custom Enterprise Contract Management Reporting
    • Report on any field(s)
    • Report on all contracts to which the user has access or on search results
    • Create a library of reports for distribution and future use
  • Contract performance reports to contract stakeholders
    • Monitor performance against key contract parameters
  • Audit reports for review and compliance
    • All audit information is automatically captured
    • Full audit trail provides the ability to see who made what changes to a record – down to the field level compliance
  • Automatic alerts and reminders to contract owners
    • Email notifications based on contract dates, expirations, renewals, key events, tasks, and approvals, as well as updates from external systems
    • Create custom email content to be included whenever an email is sent from our system, whether based on a workflow event, a contract compliance alert, a business rule, or a scheduled report delivery.  The email can contain direct links to the associated records


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