supplier success management
Contract Management on Auto Pilot
Add your contracts to the platform, sit back, and relax. We’ll scan and extract the key information, ensuring you take the right action at the right time.
Add your contracts, and we’ll take it from there
Peace of mind
Centralise all your contracts in one secure spot and never miss a critical deadline again.
Optimise your spend and contracts
Anticipate renewals well in advance, giving you the lead time to renegotiate or adjust terms for better deals.
Clear visibility on key contract details
Get instant access to notice periods, renewal terms, and other essentials all in one place.
AI-Powered information extraction
Upload any contract, and watch our AI instantly identify the crucial details, like renewal dates, payment schedules, and amounts, then prompt you exactly when it’s time to act.
Step into the cockpit of financial excellence
Optimising spend, one blog at a time
Frequently
asked questions
What is contract renewal management?
Contract renewal management is the process of tracking and managing contract deadlines, renewals, and renegotiations to ensure that businesses don’t miss important dates and can optimise contract terms before expiration.
What are the benefits of a contract renewal process?
The benefits of a contract renewal process include preventing missed deadlines, allowing time for renegotiation, optimising spending, and ensuring continued compliance with contract terms, all while maintaining better control over vendor agreements.
How does contract renewal management benefit finance departments?
It helps finance departments by centralising all contract information, automating reminders for upcoming renewals, and providing clear insights into payment schedules and contract terms, which improves budget forecasting and cost control.
Do I have to manually input all the information about contracts?
No, Najar's system uses AI to automatically extract key information such as renewal dates, payment schedules, and contract terms from uploaded contracts, reducing manual input.
What types of contracts can be managed through Najar's contract renewal management system?
Najar can manage a wide range of contracts, including SaaS agreements, vendor contracts, service agreements, and any other contract types that require tracking and renewal management.
How do contract renewal alerts work in Najar?
The system automatically scans contracts and generates reminders based on key dates such as renewal deadlines. These alerts are sent to relevant stakeholders, ensuring timely actions are taken. The alerts are sent through Slack or Email.
How long before a contract renewal is coming up will I be notified?
Alerts are sent 45 days before the renewal deadline (latest date at which a contract renewal can be challenged). If not known alerts is sent 60 days before the end date. This helps you to prepare potential renegotiations or renewals in a timely manner.
Who is alerted of upcoming renewals?
The owner(s) assigned is alerted of upcoming renewals when adding a new contract.
How does Contract Management help optimise spending?
Contract management helps optimise spending by anticipating contract end dates. The system gives you the opportunity to review, renegotiate, or adjust contracts, ensuring you’re always getting the best terms and avoiding unnecessary expenses.