Are you looking for a fast and efficient way to create Procurement Contracts in PeopleSoft?

Procurement Contracts enable organizations to manage recurring payments and purchase order releases for goods and services over a period of time. They determine when the contract is valid by using Begin and Expire Dates and can be shared across the entire organization or controlled by Business Unit, Ship To, or a combination of Ship To’s (Contract Domain). 

Organizations that negotiate and leverage Procurement Contracts not only receive favorable payment terms but additional benefits as well. Procurement Contracts enforce compliance by ensuring an item’s negotiated price is used, they also track and prevent overspending to name a few. This minimizes risks and helps reduce maverick spending.  However, setting up and maintaining procurement contracts can be a painstaking and tedious task especially when they include several line items.  Functionality released in Image #43 provides organizations with a load utility to create Procurement Contracts that support the General and Purchase Order process options.These process options are widely used in the Req to Check business process.

The loading of Procurement Contracts is simple.  Contract administrators can organize data in Excel and save it as a comma-delimited (CSV) file.  The load utility will read this file and update staging tables.  Once loaded, a validation process (POCNTRCTLOAD) will identify errors. If errors are found, then the user will need to resolve them manually online and rerun the validation process.  When no errors are found, this process will generate new Procurement Contract(s).  Contract administrators can then review or modify the contract online as normal.

Figure 1 – Process Flow to Loading Procurement Contracts

Our development team is currently working on an automated process to ‘Update’ Procurement Contracts. Things like item price changes could be done systematically.  This will complement the loading of Procurement Contracts but provide a maintenance aspect. 

Next time your organization needs to create new contracts, give the Contract Upload Process a try!