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SAP Ariba Contract Management
SAP Contract Management software is intentionally designed to deliver the needed functionalities to manage contracts during serious business agreements. The SAP Ariba Contract Management is used to enable existing contract visibility, simple automation process to create new contract and standardize them accordingly. The SAP Ariba Contract Management is useful in enhancing the value of contract agreements and improve the compliance factor.
Contracts play a role of critical element in the source to pay procedure. Ariba Contract Management is an end to end resolution designed to eradicate the manual paper work from the creation, execution and organization of any contract agreement type. With the help of SAP Ariba Contract Management, the companies can:
· Achieve procurement and sales type contracts, licenses, internal agreements, etc.
· Automate and quicken the complete contract lifecycle
· Standardize and regulate contract development
· Work together with stakeholders
· Strengthen functional, contractual, and monitoring compliance
The SAP Ariba Contract Management online certification course will be useful for the student to:
· Explain Contract Management
· Form Contract workspace through Contract management templates
· Modify the source agreement using the Clause Library
· Approve and publish contracts
· Amend and end contract
· Execute reports
SAP Ariba provides an open network and web-based applications to buy, sell and manage cash among B2B buyers and sellers. Though once a different entity, Ariba was acquired by SAP. The four areas of the SAP cloud application story are: money, people, customer and suppliers. Just as SuccessFactors is the core of the people segment, Ariba constitutes the core of the suppliers’ category. In addition, as part of SAP’s enterprise cloud strategy (i.e., applications, platform, infrastructure), Ariba serves as a global business network. It helps in discovering and collaborating with global organisations by combining cloud-based applications with internet trading groups.
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Uplatz offers in-depth training course on SAP Ariba Contracts and Contract Management. This is video-based online course (self-paced training). Learn the core concepts of SAP Ariba Contracts and their management & execution from Uplatz's expert consultants. This course will help you prepare for SAP Ariba Contract Management Certification and apply for jobs in Ariba contracts area.
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Course Objective
SAP Ariba Contract Management Online Certification Course is created to help technical users who can make best use of the SAP Ariba Contract Management Software solution and to enable them to create, manage and regularize contract agreements. The SAP Ariba Contract Management course covers all processes involved in a contract agreement, which includes creation, processing, approving, negotiating, till ending up a contract agreement.
By the end of this training you will:
- Acquire the relevant knowledge required to clear the SAP certification exam for SAP Ariba contracts
- Understand the core concepts of SAP Ariba module with focus on Ariba contracts
- Be able to apply the knowledge learned to progress in your career as SAP Ariba consultant
Target Audience
· Application Consultants
· Any individual who is interested to implement SAP Ariba Contract management solution
· SAP Contract management professionals
· SAP Consultants
· Any individual wishing to make a career in SAP Ariba
SAP Ariba Contract Management
- Contracts Introduction
- Workspaces
- Working on Contracts
- Approving and Executing
- Managing Amendments
- Search-Delete and Contract Requests
- Main Agreements
- Clause Library
With this SAP Ariba Contract Management course by Uplatz, you’ll learn how to manage contracts in SAP Ariba. Get step-by-step instructions for implementing SAP Ariba Contracts. Understand the contract strategies for indirect procurement; then learn to create, consume, and amend contracts. Some of the key highlights are:
- Discover how SAP Ariba Contracts handles indirect procurement
- Create and manage contracts, including electronic signatures
- Set up SAP Ariba Contracts, from creating templates to defining timelines
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The SAP Certified Application Associate - SAP Ariba Contracts exam validates that the candidate possesses the fundamental and core knowledge required of an SAP Ariba Associate Business Consultant profile. This certification proves that the candidate has an overall understanding to participate as a member of a project team in a mentored role. This certification exam is recommended as an entry level qualification to participate in all SAP Ariba Contracts design and implementation projects.
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The SAP Ariba contract management course will open a wide range of job opportunities for students owing rapidly growing demand for Ariba professionals. The leading IT companies hire SAP Ariba contract management associates & consultants because of the value provided by this end to end automated solution to manage contractual agreements.
The following are the main job titles in SAP Ariba Contract Management:
· SAP Ariba Contract Management Consultant
· SAP Ariba Contract Management Associate
· Contract Manager
· Contract Engineer
· Business Development Manager
An SAP Ariba contract management consultant draws a salary in the range of $119,485 to $176,890 per year based on the experience and seniority level. Due to increase in complexities and importance of business contracts execution within organizations, there is an increasing demand for SAP Ariba contract management consultants.
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Interview Questions
1. Define Contract Management?
Contract management is referred to the written agreement of business administration which is resulted through analysis, negotiations, abstracts, and reviews. A contract is usually settled down between two or multiple parties ideally for customers to vendors and business to business. SAP Ariba Contract management reduces the manual efforts needed for managing an agreement.
2. Define Contract Lifecycle Management?
Contract Lifecycle management is the process of managing the contracts from initial stage to implementation and reviews. Contract lifecycle management assist companies to provide an equal amount of time to each step involved so that the entire performance improves.
3. Who can make use of contract management system?
The intended people who make best use of the contract management process are companies, vendors, buyers, contract manager, contract lawyers.
4. List out the different stages involved in contract management process?
The different stages involved in contract management process are:
· Contract Preparation
· Contract Drafting
· Preparing the Negotiations
· Contract Approval
· Getting signed with the authorities
· Contract review and management
5. List out the benefits of contract management system?
The benefits of using contract management process are:
· Seamless contract process
· Reduce risk possibilities
· Frame better compliance management
6. Does contract management system replace the legal department?
No. The SAP Ariba contract management system provides efficiency and automated solution to help the legal department. A contract management system and the legal department are complimentary to each other.
7. What are the advantages of using cloud-based Contract Management?
The main advantages of using cloud-based contract management solution are:
· To gauge and manage all contract and compliance documents which includes licensing contracts, sales, employee agreement, business agreements and more.
· To improve increased visibility in contractual obligations.
· To form and getting digital signature from vendors and suppliers.
· To centrally locate the contracts and enable easy search from the repository.
8. Explain Ariba discovery?
Ariba Discovery is the premium service for finding right business buyers and sellers globally using the worlds most trusted business commerce network.
9. What are the benefits of using contract management in companies?
The organizations have reduced manual errors in drafting, analysing and in negotiations. The cloud-based contract management solution software saves time, energy and resource.
10. Explain the advantage of SAP Ariba?
· SAP Ariba provides end to end automated and cloud-based solution which helps the business to collaborate and function completely.
· SAP Ariba provides efficient spend management solution and reveal about the company’s expenditure and end users make better negotiations.
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