The Food & Beverage industry faces various challenges such as ensuring adherence to the ever-increasing compliance requirements for FDA, USPA, & EPA. The growing e-commerce sector has attributed to the rise of new distribution channels and F&B companies are always under pressure to minimize the risk of supply chain disruptions and customer dissatisfaction.
Ultria CLM—Enterprise Contract Management Software—enables Food and Beverage organizations to streamline all contracting processes, reduce risks, and design a better compliance management framework:
- Track data comprehensively to ensure all compliance documents such as those for FDA and FALCPA are valid.
- Leverage preapproved clause and template libraries to create error-free contracts with distribution channels, suppliers, and marketing agencies.
- Gain increased visibility into contractual obligations and milestones to ensure responsible sourcing and abide by the packaging and delivery schedule.
- Create and e-sign supplier and vendor contracts “hands-free”.
- Store and manage contracts within a searchable and secure repository.
- Maintain an audit trail for all the changes made to a contract.
- Establish standardized workflows with multiple reviewers and approvers, as required.
- Generate reports to increase transparency.