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Aavenir Atlas early access is open Contractflow on the ServiceNow Store since 2019 Runs on ServiceNow, or standalone ProcureTech100 2025/26 Pioneering Digital Solution ISO/IEC 27001:2022 certified, SOC 2 Type 2 compliant

Glossary

What is vendor contract management?

Vendor contract management is managing the contracts a company has with its suppliers, from sourcing and onboarding through negotiation, obligations, invoices and renewal, so the company gets the terms it paid for.

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What it covers

  • Selecting and onboarding the vendor, with risk and compliance checks
  • Negotiating and signing the contract
  • Tracking service levels, insurance and other vendor obligations
  • Checking invoices against contract prices and caps
  • Reviewing performance before renewal or termination

Why it matters

Value leaks between the contract and the invoice: prices above the agreed rate, service credits never claimed, renewals on old terms. Vendor contract management connects the contract to the work and the payments that follow it.

How Aavenir handles it

RFPflow runs sourcing, Onboardingflow registers and checks vendors, Contractflow runs the contract, Obligationflow tracks what the vendor owes and Invoiceflow checks each invoice against the contract before it is paid, all on one record.

Keep reading

Contract obligations Contract obligations are the duties each party agrees to perform under a contract, such as paying on time,.Read more Master service agreement A master service agreement is a contract that sets the general terms for a long running relationship, so that.Read more Contract renewal Contract renewal is extending a contract for a new term, either automatically under an auto renewal clause or.Read more

Frequently asked questions (FAQ)

Common questions

What is vendor contract management?

Managing the contracts you hold with suppliers, from selection and onboarding through negotiation, obligations, invoices and renewal, so that the company actually receives the prices, service levels and credits it agreed. See Contractflow.

What is the difference between vendor management and vendor contract management?

Vendor management covers the whole supplier relationship, including risk, performance and communication. Vendor contract management focuses on the contracts and the terms inside them, and on making sure both sides honor them. See Onboardingflow.

How do you manage vendor contracts well?

Keep every vendor contract on one record with its amendments, track what the vendor owes you, and check each invoice against the contract price and caps before it is paid. See Invoiceflow.

Have a question we have not answered? Ask the Expert

Schedule a demo

See your contracts run on one record.

  • 1 A 30 minute walkthrough Built around your team, whether that is procurement, legal, IT or finance.
  • 2 Your contracts, not ours Bring a few sample agreements and watch Aavenir AI extract and review them.
  • 3 ServiceNow or standalone We show the deployment that fits the systems you already run.

Prefer to talk first? Contact the team.