Description

Introduction
Efficient contract management is vital for mitigating risks, maintaining compliance, and enhancing supplier relationships. Coupa Contract Management provides a centralized platform to create, negotiate, manage, and track contracts throughout their lifecycle. This course equips participants with the skills to optimize contract workflows, ensure compliance, and improve visibility into agreements using Coupa’s tools.

Prerequisites

• Basic understanding of procurement and contract management
• Familiarity with legal and compliance requirements is helpful
• Experience with supplier management systems is recommended

Table of Contents

1. Overview of Coupa Contract Management
   1.1 Importance of Contract Management in Procurement
   1.2 Key Features of Coupa Contract Management
   1.3 Benefits of a Centralized Contract Repository
2. Creating and Negotiating Contracts
   2.1 Drafting Contracts Using Templates
   2.2 Collaborating with Suppliers and Stakeholders
   2.3 Managing Version Control and Redlines
   2.4 Finalizing and Approving Contracts
3. Contract Compliance and Risk Mitigation
   3.1 Defining Compliance Requirements in Contracts
   3.2 Monitoring Supplier Adherence to Terms
   3.3 Managing Contractual Risks and Obligations
   3.4 Automating Compliance Checks
4. Tracking Contract Lifecycle and Renewals
   4.1 Setting Milestones and Alerts for Key Dates
   4.2 Automating Renewal Processes
   4.3 Handling Expirations and Contract Closures
   4.4 Managing Amendments and Addendums
5. Integrating Contracts with Procurement and Invoicing
   5.1 Linking Contracts to Purchase Orders and Invoices
   5.2 Managing Spend Against Contracts
   5.3 Ensuring Contract Compliance in Procurement Workflows(Ref: Coupa for Procurement and Expense Management)
6. Using Analytics for Contract Insights
   6.1 Generating Reports on Contract Performance
   6.2 Identifying Cost Savings and Risk Reduction Opportunities
   6.3 Monitoring Key Performance Indicators (KPIs) for Contracts
   6.4 Leveraging Analytics for Strategic Decisions
7. Automating Contract Management Workflows
   7.1 Setting Up Workflow Automation for Approvals
   7.2 Automating Notifications and Alerts
   7.3 Integrating Contract Data with ERP Systems
8. Best Practices for Contract Management in Coupa
   8.1 Ensuring Data Accuracy and Version Control
   8.2 Promoting Cross-Functional Collaboration
   8.3 Aligning Contracts with Business and Regulatory Goals

Conclusion
Coupa Contract Management streamlines the entire agreement process, from drafting and negotiation to compliance and renewals. By automating workflows and integrating contracts with procurement activities, organizations can enhance efficiency, reduce risks, and gain greater visibility into their agreements. This course prepares participants to optimize contract management and align agreements with strategic business goals.

Reference