As part of Tanger Med Group’s digital transformation strategy, we are pleased to announce the deployment of a new solution designed to digitize the entire contract lifecycle. As of January 1, 2025, we are putting the “Oracle Procurement Contracts” module into production, an ambitious initiative designed to optimize the preparation, monitoring, and execution of our contracts, while facilitating the automation and traceability of the various stages in the process.
The “Oracle Procurement Contracts” module covers four major phases in the contracting cycle, each designed to simplify and streamline processes:
- Contract Library Administration: This first phase centralizes all essential contract elements, such as clauses, templates, variables, and contract formats. Access to this information will be easy and secure for all users involved.
- Draft Contract Creation and Consultation: In this phase, a draft contract (EDC) is drawn up and published directly on the system, enabling stakeholders to consult and validate the content before formalization with the successful supplier.
- Contractualization and Commitment: Automatic contract generation, approval and signature (internal and external) will be greatly simplified, guaranteeing a smooth, error-free process.
- Contract Execution and Monitoring: Finally, this phase covers all the processes required for contract execution, including the management of service orders, renewals, and amendments. Ongoing monitoring will ensure compliance and proactive management of contractual commitments.
Two main tools are used to ensure optimal contract management:
- Contracts Console: This centralized dashboard will provide an overview of all current contracts within the Group, enabling transparent management and real-time monitoring.
- Alerts and Notifications: The system will trigger alerts to anticipate deadlines and ensure that all necessary actions are completed on time.
This new solution will transform contract management with a number of advantages:
- Fluidity and Safety: The contract management process will be faster, more secure, and more reliable, thanks to the automation of tasks and centralized information.
- Increased Transparency: Greater visibility over all contracts will enhance transparency and ensure clear, consistent management.
- Enhanced Collaboration: This tool will encourage more effective collaboration between the various departments involved (purchasing, legal, finance, etc.), by simplifying exchanges and ensuring optimum coordination.
- Total Traceability: All contract data will be recorded and accessible, facilitating audits and the monitoring of actions taken.
The deployment of the Oracle Procurement Contracts solution marks a key step in our digital transformation of our purchasing processes. This initiative will make contract management more fluid, secure, and transparent, while optimizing collaboration between teams. We are looking forward to seeing the benefits of this new solution rolled out across all our purchasing and contracting processes.
