Add-ons
Power up your solution with optional extras to help you keep track of supplier contracts and streamline payments to your suppliers.
Want to add a bit more functionality to your solution? Our Contracts Add-on and Payments Add-on can take your chosen solution to a whole new level.
Our Contracts Add-on makes it easy to manage your supplier contracts by bringing them all into a single, searchable contract repository. Built-in spend tracking gives you a comprehensive view of all purchasing activity related to each contract. This visibility helps you manage underlying risk, and gives you the information you need to negotiate better contracts in the future. Our Contracts Add-on will transform how you manage supplier contracts.
Looking to reduce your payment processing costs? Our Payments Add-on lets you integrate payments into the procurement and invoice management process. Operating as an extension of our eProcurement and eProcurement+ solutions, the Payments Add-on generates payments for approved supplier invoices, based on a file from your financial system. Payment can be made by ePayment, ACH, virtual card or wire, depending on the supplier’s preference.
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How can our Contracts Add-on power up your solution?
Collaboration by default
Effective contract management generally involves multiple people at different stages in the life of the contract, which is why we make it easy for you to share contracts with the relevant people so each person can play their part at the different stages. Each contract record includes a messaging forum where stakeholders can track and save contract-related notes and comments, with new comments generating an alert so all stakeholders stay informed and up to date. You’re always in control of who has access and you set the rules about who can create, view, or edit contracts. Collaboration on contract management is one more way Unimarket helps you remove friction and create momentum in your organization.
Greater compliance, less risk
If you’re using a manual, paper-based system to store and manage contracts, you’ll be aware that this creates significant risk for your organization. By digitizing everything and creating a ‘single source of truth’ when it comes to managing contracts, you can immediately improve compliance and reduce this risk exposure. Using our Contracts Add-on, you can also establish standardized, repeatable, enforceable and auditable workflows and processes—even further reducing your risk. Last but certainly not least, you can improve the quality of your contracts and bring a more structured approach to how you manage the many data points associated with each contract.
All in one place, all the time, everywhere you go
How many filing cabinets do you need to store all your supplier contracts? If you needed to put your hands on a contract immediately, could you? What if you were away from the office? With our Contracts Add-on, you can bulk upload all your existing contracts (via CSV file), ditch the filing cabinets, and enjoy peace of mind knowing our cloud-based solution means you have access to all your contracts, any time, anywhere. And it’s not just contracts you can store—you can include all the related documentation as well, like renewals, amendments, insurance certificates, and associated agreements.
Stronger supplier relationships, better contracts
Because our Contracts Add-on is seamlessly integrated into our eProcurement and eProcurement+ solutions, you have real-time visibility into all of the purchasing activity associated with each contract. This kind of visibility is what you need to be able to have informed conversations with your suppliers about the value of the relationship and be in a position to negotiate better contracts and realize better outcomes for your organization. You also have the tools you need to stay on top of things like renewals, making you a better partner for your suppliers.
Details are no longer needles in a haystack
Once your contracts are loaded, powerful search and filter tools make it easy to find the important details in any contract or other related document. You can refine searches by multiple criteria, including dates, contact type, counterparty, department and owner. No more frustration trying to locate even the tiniest detail in a contract, an amendment to a contract, or a contract renewal. There is no limit on the number of documents you can store and if you need it, you can always access the history associated with any document, even the deleted ones.
Contracts organized any way you like
Every organization structures their information in different ways so our solution lets you customize your contract types so you can capture the specific information you need for your internal business processes and organize everything in the way that works for you and is easily recognizable for your users. Each contract type includes an approval workflow and customized form fields to capture the specific information you need.
Track spend associated with each contract
Like everything else in Unimarket, tracking spend on contract is easy. Just upload a contract, link it to the relevant supplier in your marketplace, and all subsequent purchase orders and invoices made under that contract are automatically tracked to the contract, giving you a comprehensive view of all purchasing activity related to each contract. You can also associate contracts with supplier records, RFx sourcing events, purchase orders and invoices.
Never be late for a very important date
With a selection of built in standard alerts and the ability to create custom notifications, you’ll never miss an important date or contract milestone. This is especially important when it comes to contract renewals which you can manage with automated contract renewal notifications and an associated workflow.
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How can our Payments Add-on power up your solution?
Our Payments Add-on is available to organizations operating in the US.
Reduce costs and generate revenue
The average cost to initiate a payment by check is around 10 times higher than making an ePayment,1 so by making more ePayments you will substantially reduce your operating costs. But that’s not all—you’ll actually earn a cash rebate on all payments to suppliers who have opted to be paid by virtual card. And if the cash rebate isn’t enough to convince you, virtual card payments are also quick and efficient, and, because there is no need for suppliers to share their bank account details, it’s also a very secure method of payment.
One file does it all
Submit a single electronic file directly from your accounting or ERP system with details of the payments you’d like to make, and we’ll handle it from there. For suppliers that accept ePayments, we process the underlying ACH, virtual card and wire payments. For suppliers who don’t accept ePayment (yep, there are still a few of them out there), we’ll print and mail your checks (we’ll also work diligently on your behalf to convert as many of these suppliers as possible to ePayments). Whether we print and mail a check or pay a supplier by ACH or wire transfer, payments are processed using your existing bank accounts with your existing bank partners. The whole process couldn’t be easier or more efficient.
Easy supplier enrollment
With more than 200,000 suppliers already accepting ePayments in our network, you’re bound to find many of your suppliers already on board and immediately able to start receiving ePayments from you. For any of your suppliers not yet in our network, we provide an easy-to-use self-service portal where they can sign up simply by providing their preferred electronic payment method and delivery details.
Suppliers can help themselves
Suppliers want access to remittance information so they can reconcile the payments they receive to the invoices they’ve issued. To reduce your workload, we make it possible for them to view this information online any time they want, or they can opt to receive it in a variety of electronic formats they can feed directly into their accounts receivable system for automated reconciliation.
Exploring other ways to get procurement done right?
We make procurement work for you, with a platform that flexes to suit your needs. No matter how you use Unimarket, you'll spend less time managing your procurement process and more time working on what you do best.
Marketplace
Our integrated catalog-driven marketplace lets you easily find and buy the things you need from your preferred suppliers at your negotiated prices.eProcurement
Easily find and buy the products and services you need, plus manage your purchase orders, approvals, and requisition process.eProcurement+
Our most comprehensive solution manages your entire procurement process, from purchasing through to managing supplier invoices.Doable just got done.
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