Definition: The process of tracking and managing agreements (contracts) with vendors or suppliers, including contract terms, pricing agreements, invoice validation, and renewal timelines.
Example: An example of contract tracking is the AP team getting an alert that a vendor contract will expire in the next 30 days.
Explore IVP Accounts Payable Services
IVP Accounts Payable Services automates contract tracking and management. This service also streamlines vendor management, invoice processing, and expense allocations with advanced automation. Offered as a managed service in tandem with Expense Allocation System (EAS)™ by IntegriDATA, an Indus Valley Partners company, IVP AP Services help firms manage labor-intensive tasks like invoice processing and transaction handling while maintaining full control and oversight.
