Anyone have experience with Oracle Procurement solutions?

I'm working on implementing an Oracle Procurement solution for a client, and I was just wondering if anyone could share any best practices they know for tracking/measuring/analyzing new/renewal contract opportunities/risks (a lot of slashes, I know). Any methods that are incredibly useful but rarely used?

Are there any modules from R12 that are crucial or any that really do not add any value? I would really appreciate any advice or experience anyone has on this. If there are any other resources you could point me to, that would work as well.