Benefits

Increased efficiency and faster turnaround

Reduction in time spent to explain and facilitate the processes, manually create required agreements (sometimes having to retype the same data across multiple documents) and audit trails. Faster turn-around for business users lodging procurement requests due to automation and self-serve.

One stop-shop system offering full operational transparency

Centralized management and tracking of the full end-to-end procurement process enabling right and timely managerial decisions and eliminating the need to switch between multiple systems.

Compliance by design

Increased compliance due to in-built checks, controls and automated audit trails capturing key information and actions taken as part of each procurement.

Ease of customisation and maintenance

The solution is fully configurable and can be quickly adjusted to complex Policy changes in a matter of minutes, as well as allow to inject your own unique company voice to increase adoption.

Make better informed business decisions

The accounting team can use the centralized dashboard to view an audit trail and transcript of all responses, actions and attachments, so business decisions can be made with the full picture to back it up

challenges

HOW DOES MLS ADDRESS IT?

Many back-and-forth communications are often needed to generate bespoke vendor agreements between the procurement and legal division, leading to a long turn-around time.

High risk of human error from manually creating agreements, and non-compliance if the incorrect, or an outdated template is used.

Manual look up and rekeying of data from multiple sources, such as CRM systems.

The document execution process is hard to navigate with little guidance on key contact personnel and the conditions under which they should be contacted.

Vendors experience a tedious and lengthy contract signing process by having to download, sign and re-send the contract.

Minimal visibility on the status of the document for internal staff who are asked to provide updates to vendors.

Empower the procurement team to self-serve the generation of draft contracts without having to rely on the legal team unless a review is required.

MLS builds in smart, intuitive forms with complex rules and decision-tree logic, including calculations and weighted scoring to produce compliant-by-design contracts.

These documents are automatically customized and can feature:

1. Conditional clauses – only the relevant clauses are inserted into the document and numbered automatically.

2. Dynamic tables to structure information in rows and columns that are adjusted automatically to the content.

The generation of documents is automated by populating an underlying master template which is compliant by design.

Data required for the documents is automatically retrieved from various systems including Hubspot, Salesforce, and SharePoint through REST API..

MLS can codify complex document execution frameworks and delegation of authority to facilitate the approval process with a digital audit trail.

Leverage out-of-the-box e-signature functionality in MLS to provide an effortless experience and reduce friction and time to execution.

The status of the document workflow is tracked on customizable MLS dashboards. Generated and signed documents are all stored in MLS and can be sent to store in other document repository systems.