Transforming Procurement Processes: Unlocking Value with MSB Docs

Procurement leaders in government are tasked with securing the most advantageous contracts and solutions to meet the needs of agencies and communities. This entails managing numerous critical processes to lower risk, ensure policy compliance, and enhance transparency in supplier data. However, 53% of organizations lack the necessary systems to efficiently locate, manage, and audit agreements. By transitioning away from paper-based methods and centralizing contract management, MSB Docs can assist agencies in saving costs, expediting contract turnaround times, and meeting reporting requirements.

Key Features of MSB Docs for Centralized Contract Management

Centrally Manage Digital Contracts Gain control and insights into vendor contracts by managing them all from one centralized platform. Analyze data, track contract performance, and automate actions within a single system of record.

Enhance Transparency and Collaboration Foster transparency and collaboration across multiple departments by centralizing contract management processes.

Minimize Risk and Ensure Compliance Manage compliance with contract regulations, understand contract risks and obligations, and ensure process compliance.

Save Time and Costs Maintain consistent contracting turnaround times, identify saving opportunities, and accelerate the entire contract process from preparation to final signing.

Leverage Existing Technology Increase procurement’s value with pre-built integrations, including SAP and Oracle, to fully leverage technology investments across the supply chain and organizational functions.

MSB Docs for Procurement: Transforming Contract Management

The MSB Docs Agreement Cloud for procurement streamlines every stage of the acquisition and procurement process. By automating and digitizing processes, MSB Docs enhances visibility into supplier management, controls costs, and mitigates risk in the supply chain. From RFPs and MSAs to supplier contracts and financing agreements, MSB Docs revolutionizes contract management.

Key Components of MSB Docs for Procurement

• eSignature: Capture signatures for supplier agreements quickly and securely from any device, maintaining a complete audit trail.
• MSB Docs Notary: Sign and notarize documents remotely and electronically via secure audio-visual sessions.
• MSB Docs CLM: Manage complex contract lifecycles with features like document generation, redlining, real-time negotiation, automatic routing, and powerful search capabilities.
• Integrations: Seamlessly integrate MSB Docs with existing tools and systems using 350+ pre-built integrations, including SAP Ariba, SAP Fieldglass, and Oracle.

Results

• 93% Faster Cycle Time: Oregon Health Authority
• $4 Million Saved with Digital Procurement: Spring Branch ISD
• 9x Faster Procurement Cycle: City of Memphis
• 800% Increase in MSB Docs Usage: California Natural Resources

Procurement Lifecycle Phases and Document Types

Sourcing & RFP

• Nondisclosure Agreements (NDA)
• Requests for Proposals (RFP)
• Vendor Application
• Quotes
• Bidding Documents
• Waiver Exceptions
• Memorandum of Understanding
• Internal Approval

Contracting

• Master Service Agreements
• Service Level Agreements
• Vendor Contracts
• Stocking Agreements
• Partnership Agreements
• Terms and Conditions

Receive Goods

• Specifications
• Gate In/Out
• Shipment Authorization
• Bill of Lading
• Quality Assurance Acceptance
• Return Authorization

Purchasing

• Statements of Work
• Agreement Reviews
• Version Tracking
• Legal Redlining
• Alerts and Status Tracking
• Final Contract External Execution
• Purchase Requisitions and Work Orders
• Sole-Source Justifications
• Amendments
• Change Orders
• Extensions
• Addendum

Vendor Management

• Vendor Onboarding Documents
• Vendor Risk Questionnaire
• Vendor Compliance Documents
• Lease and Land Management
• Audit Documents

Payments

• Invoicing
• Account Statement
• Credit Note Request

MSB Docs streamlines each phase of the procurement lifecycle by digitizing and automating document management processes, ensuring efficiency, compliance, and transparency throughout the procurement journey.