We are continuously working to enhance our procurement processes to better serve our stakeholders. Commencing December, we are excited to introduce Peoplesoft Procurement Contracts, a significant milestone in our journey towards procurement excellence.
Why Procurement Contracts Matter
Procurement Contracts are the backbone of our procurement activities. They establish the terms, conditions, and obligations between the University and our suppliers, ensuring that both parties understand their responsibilities. With the implementation of the PeopleSoft Procurement Contracts module, we are taking a giant leap towards efficiency, compliance, and cost-effectiveness in our procurement operations.
Key Features and Benefits of the Procurement Contracts Module
Our new Procurement Contracts module offers a range of features and benefits designed to streamline and enhance our procurement processes:
- Centralised Contract Management - All contracts will be stored and managed within a single system, eliminating redundancy and reducing administrative overhead.
- Enhanced Visibility - The module provides comprehensive visibility into contract terms, pricing, and expiration dates, enabling informed decision-making.
- Efficiency and Automation - Manual contract management processes will be replaced with automated workflows, reducing errors and delays.
- Compliance and Risk Mitigation - Automated notifications will ensure compliance with contractual thresholds and expiration dates, reducing risks associated with non-compliance.
- Cost Savings - By optimising contract management, we will identify cost-saving opportunities and negotiate better terms with our suppliers.
- Mitigating double handling - The Procurement Contract Module will stage Purchase orders for all executed transactional contract where the invoicing schedule and pricing are fixed. This means that approvers do not need to reapprove each purchase order if they have already executed an agreement to that value.
How You Can Prepare
As we prepare for this exciting rollout, here's how you can get ready:
- Identify and collect all existing contracts for your area. You can start submitting these contracts through to procurement for input by using the "Submit Procurement Contract for Loading" form.
- Collaborate with the Procurement Team to ensure a smooth transition of your contracts into the new system.
We're Here to Support You
We are committed to providing the highest standards of efficiency, compliance, and ethical conduct in our procurement practices. The Procurement Contracts rollout is a testament to this commitment, and we are here to support you every step of the way.
If you have any questions or need assistance, please don't hesitate to reach out to the Procurement Team at procurement@nd.edu.au.
Together, let's embrace this transformative change and make our procurement processes even more efficient and effective.
Stay tuned for further updates on this exciting journey!
Media Contact: media@nd.edu.au
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