Renewly is a specialized software solution designed for the efficient management of vendor contract renewals, catering specifically to the needs of procurement, operations, and finance teams.
By simply uploading a vendor contract in PDF format, Renewly swiftly extracts crucial details such as renewal dates, notice periods, auto-renewal clauses, contract values, and twelve additional structured data points within seconds, eliminating the need for any manual data entry or templates.
Users can set adjustable alerts at 90, 60, and 30 days prior to the closure of notice windows, ensuring they are informed before the final opportunity to take action, a feature that can save businesses significant amounts of money each year.
This software offers a variety of functionalities, including the ability to upload contracts in bulk, assign team responsibilities, track ownership, analyze contracts, generate spending reports, organize through tagging, synchronize with calendars, and maintain a comprehensive audit trail.
Specifically designed for mid-market organizations with 50 to 500 employees managing between 20 to 500 vendor contracts, it serves as an effective replacement for out-of-date shared spreadsheets and costly enterprise contract lifecycle management platforms that may not be necessary.
Renewly is available for free for up to five contracts, with a professional version offered at $99 per month, allowing unlimited contract management capabilities.