Contract Renewal Reminder Tool for Procurement Teams
Why This is an Opportunity
The manual nature of current processes results in missed renewals, which can disrupt supply chains. A web app with automated alert systems simplifies tracking through a single point of management using basic CRUD architecture.
Key Pain Points
- •Manual entry of renewal dates into calendars is error-prone
- •No centralized view of upcoming renewals
- •Existing tools do not offer automated reminder functionalities
- •Multiple systems are needed to track different vendor contracts
- •Missed renewals result in supply chain disruptions
Market Opportunity
Procurement Management Software Market
Current Size (2026)
$1.5B
Projected (2036)
$3.9B
CAGR
0.1%
This market is projected to grow 159% over the next 10 years, reaching $3.9B by 2036.
Original Discovery
Procurement teams often struggle with keeping track of contract renewal dates across various vendors. This typically involves manual calendar entries and oversight. A web app for tracking renewal dates and sending automatic reminders could mitigate missed renewals and unplanned renewals.
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