Optimize Contracts With Penny

With Penny, you can say goodbye to handling piles of paper invoices & payment forms.

Optimize Contracts With Penny

Businesses usually lose revenue due to unseen errors in contracting practices. Contract Optimizer detects these flaws enabling you to fix them, recoup lost revenue, and improve operations over time.

Companies usually lack the in-depth knowledge and analytical tools to get the best out of their contracts.

Penny’s contract optimizer is a cloud-based solution that examines your contract data and activities, providing you with the information you need to enforce provisions and rights, renegotiate costly deals, and take advantage of every renewal opportunity.

Penny’s user-friendly solution provides you with a quick, powerful approach to take contract optimization to a whole new level

Two Birds, One Stone

Utilizing our cloud-based solution, you can simultaneously focus on diagnostics and implementation to handle the unique needs of your business’s operating model.

Multi-Industry Expertise

Our solution has helped players in the pharmaceutical, technology, and a range of different industries in optimizing contracts and changing their business procedures

Unified Data Source

We integrate the latest tools enabling you to make calculated decisions and boost earnings on all future contracts. We provide you actionable data helping in making intelligent decisions, optimizing your license costs over time, and realizing possible savings.

Make Compliance Easy

By closely monitoring all contract operations, you can rest assured you’re ready for any auditing that comes your way. We’re right there to help you tailor contracts for your business needs with customization, and manage software licenses, maintenance contracts, etc. Using Penny’s automated solution, you can easily track contract history, minimize paperwork and ensure maximum compliance.

Consolidate

We evaluate your present contract’s status and provide an optimization solution to help you consolidate smaller contracts and obtain maximum volume discounts from the manufacturer.

Handle All Contract Forms

Penny’s cloud-based solution can manage massive volumes of contracts, including those scanned with OCR. This will help customers among other things, with contract implementation and enhancement, contract classification and linkage, and metadata extraction from legacy contracts. Organizations can also export the retrieved data to Excel files while using Penny.nd provide an optimization solution to help you consolidate smaller contracts and obtain maximum volume discounts from the manufacturer.

Achieve Unrivaled Accuracy & Speed

We help our users to automatically extract, evaluate, and analyze essential information from their contracts at a speed and precision that is far more than any person or team’s ability. Penny allows businesses to quickly find and exploit new revenue and cost-cutting possibilities while lowering risks.

Frequently Asked Questions

Penny is a cloud-based Procure-To-Pay system. penny helps you digitize and manage your full procurement cycle from request to approval. Manage RFQs to vendors, compare quotations, send POs and even payment. penny was designed to make things easy and consolidate all of your organization’s spending needs into one intelligent system.

  • Allocate, manage and monitor budgets by expense accounts, projects, departments, location, teams..etc 
  • Streamlining procurement means requests, approvals, and POs won’t be lost in emails or offline.  
  • History and records of requests and purchases can be extracted and tracked easily via the platform. 
  • Product requests are more accurate through the catalog, and hence avoid purchasing mistakes.
  • Reports and analysis can be extracted from the platform, giving you a consolidated data center for all your procurement activities.
  • penny is cloud-based and an easy to use platform. The action-board gives your team a user-friendly and simple experience.

Yes, penny is designed to handle complex procurement operations. We make EVERYTHING simple. Via the contract management feature, you can set the terms and conditions of your contract, and the system will recognize the products and the vendors of your request and match it with specified terms of your contract. Easy.

Putting you in control of your spending is integral to our mission. penny allows you to create Expense Accounts that match your P&L, and assign budgets to them. For example, you can assign $X for your “Travel Budget” and reflect on the budget before approving a travel request. In addition, penny allows you to set budgets for cost centers like projects, departments, locations, and so much more. With penny, you can extract reports and view your spend per Expense Accounts or cost center.

Yes. If your product search finds no results, you can submit a non-standard request.

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