Foodservice industry supply chain management platform ArrowStream has announced a new and enhanced contract management solution.
Intended to streamline contract and price data management for businesses such as restaurant chain operators and foodservice suppliers, the solution serves as a central location for supplier pricing agreements.
Among its features are spend and price analysis tools, as well as alerts to prevent pricing errors. Also included are expiry pricing and automated price collection and partner communication features.
“At the very least, adding and updating contracts should be simple and not consume your day. With ArrowStream, our team benefits from a simplified process plus improves our ability to be proactive and strategic about managing contracts,” said Ginny Michaels, Director Program Management at SMS Cooperative, a customer of ArrowStream. “In the end, we reduce our costs, optimise our spend, and save time, all from one place.”
Guide Contract Automation
ArrowStream said the inclusion of automation features would speed up redundant and time-consuming processes for supply chain teams, with examples being guided interfaces for new contracts, targeted views to minimise information clutter and automated price entry.
The company’s platform is said to be used by over 250 restaurant chains, as well as 8,000 foodservice suppliers.
“Managing contracts can be a time-consuming process and supply chain teams can’t afford to waste a minute of time in today’s environment,” said Bill Michalski, Chief Product Officer at ArrowStream.
“Restaurant supply chain teams have been achieving the impossible during the past year, and this launch represents one way we can give them hours back in their day. Our platform manages at least 15,000 active-price contracts at any given time across hundreds of restaurant chains, with over 600 suppliers actively assisting them in direct price management via our platform. We have applied all of the experience and feedback of that community into a solution that will materially elevate our customers’ ability to run their business more efficiently, more accurately, and more profitably.”
