Name: BVA Contract
Author: Brooklyn Vendor Assurance

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The BVA Contract, developed by Brooklyn Solutions, is a solution for fully digitized contract and commercial management. According to the vendor, this product is aimed at small to large enterprises and is suitable for procurement professionals, contract managers, legal professionals, compliance officers, and supply chain professionals across various industries.

## Key Features

**Fully Digitised Contract & Commercial Management**: According to the vendor, the product aims to streamline contract onboarding and automate management processes, tailored to industry needs, with the goal of reducing contract value leakage.

**Automating Contact & Obligation Management**: The vendor claims that the product can automate review processes for obligations, deliverables, and responsibilities, providing an immutable audit trail to reduce contract value leakage.

**Smart Onboarding At Scale**: The vendor states that the product allows for the upload and onboarding of customers or suppliers at scale, transforming contracts into digital assets with actionable obligations, improving alignment between sourcing teams and contract management.

**AI-Generated Metadata Extraction**: The vendor claims that the product utilizes Artificial Intelligence Solutions to identify crucial elements of contract demographics, automatically extracting metadata and obligations from contractual agreements in real-time.

**Digitised Contract Audit and Assessment**: According to the vendor, the product aims to transform and digitize contracts for easy compliance assessment against company policy and external regulations, automating the extraction of vital obligations and tracking them throughout the contract lifecycle.

**Contractual Compliance Heatmapping**: The vendor claims that the product provides the ability to assess the entire contract portfolio through a single view of each contract post-award, identifying, tracking, and resolving contractual non-compliance in real-time.

**Smart Planning and Collaboration**: According to the vendor, the product enables Contract Management playbooks, projects, and more through Brooklyn flows, allowing for the tracking of overall progress against business objectives through bespoke business intelligence solutions.

**Automated Obligation Tracking and Alerts**: The vendor states that the product allows for the continuous monitoring of adherence to company policy, proactively maintaining compliance with obligations through Customer-Supplier scoring and audit trails.

**SLA and OLA Performance Processing**: According to the vendor, the product aims to reduce costs and efforts for customers or vendors to provide SLA information regularly, automate SLA and OLA performance processing, and highlight outliers across contractual agreements.

**Consistent Customer, Supplier and Sub-Supplier Compliance**: The vendor claims that the product supports supplier compliance and generates best practice workflows by working against a best practice framework, managing compliance through automated customer/supplier scoring and checks.

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Starter

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Bronze

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BVA Contract

Contract management software is a program or series of related programs for storing and managing legal agreements such as contracts with vendors, leases and licensing agreements.

Contract Management

Brooklyn Vendor Assurance

Contract Authoring

Features related to the contract authoring process.

Contract creation

Includes a document generator and tools for creating new contracts.

Contract templates

Allows users to set up templates or templatize old contracts in order to make new contract creation easier and more consistent.

Clause library/saved fields

Users can save certain fields of a contract for re-use; these may be stored in a template or a clause library.

Integration to CPQ

Integrates to CPQ software so that calculated quotes/configuration details can feed into contracts. This is an important element of automation in the contract authoring process.

PDF generator

Users can generate PDFs of contract documents.

Contract attachments

Users can attach other documents, like invoices, images, meeting minutes, memos, etc, to contracts.

Guided logic

Automated questions (based on company policies and the circumstances of the deal) help with the contract authoring process; this is an example of partial automation.

Contract Collaboration

Features related to collaborating on contracts.

Contract sharing

Users can easily and securely share contracts with internal users and external users. Contracts are accessible.

Contract editing

Contracts can go through multiple drafts and revisions; the software supports multiple versions and version comparison.

Contract merge

Multiple versions of a contract can be merged.

Collaborating on contracts

Internal and external users can collaborate on contracts without changing the text of the contract; this may be done through comments, questions, and/or message board conversations.

MS Word plug-in

Users can make changes to contract language using Microsoft Word.

Approval process

Approval workflows can be configured to streamline and automate the approval process; the approval process is helpful and convenient.

Parallel approvals

Users can set up complex workflows to handle parallel approvals.

Interdepartmental workflows

Users can set up interdepartmental workflows so that contracts can flow between teams in a logical and organized manner.

Contract Monitoring

Features that enable users to monitor the status of contracts.

Contract database

Contracts are stored and organized in a central repository.

VORs

Allows users to send/receive variation order requests and coordinate these with contracts.

Contract search

Users can easily look up contracts within the database.

Contract milestone reminders & alerts

Users can schedule reminders and/or trigger alerts according to contract milestones.

Custom contract reports

Users can create custom reports about the status of contracts, contract timelines, efficiency, and revenue tied to contracts.

Tracking contract status

Users can track the status of a contract as it moves through the approval process and beyond.

Salesforce integration

Integrates to Salesforce so that contracts are tied to contact’s CRM records.

Compliance check

Users can define and enforce complex business rules related to compliance regulations; helps automate or partially automate contract compliance check.

Tools and features to aid in contract management and formation.

Contract Storage

Centralized storage and management of all contracts in one place.

Document Management

Ability to upload, organize, and track changes to contract documents.

Advanced Search and Filtering

Efficient search functionality and advanced filters to quickly locate specific contracts or clause language.

Version Controls

Ability to track and manage different versions of contracts, including changes made and the history of revisions.

Customizable Contract Templates

Pre-defined templates that can be customized for different types of contracts.

Workflow Acceleration

Streamline the contract approval process by automating workflows and notifications.

E-Signatures

Capability to electronically verify user signatures, eliminating the need for physical signatures and enhancing efficiency.

Reminders and Alerts

Automated alerts and reminders for important contract dates, deadlines, and milestones.

Analytics and Reporting

Generate reports and gather insights on contract status, performance, and compliance.

Integration with other Systems

Ability to integrate with other tools, such as CRM or ERP systems, to exchange contract data seamlessly.

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BVA Contract

Overview

What is BVA Contract?