Dependable and sustainable solution
Contracts are an important part of business life. The terms of a contract establish the rights and obligations of each party, and articulates a company’s expectations of service
providers or employees.
As you’d expect companies have a large and growing number of contracts. Without digital contract management, administering contracts and monitoring deadlines and agreements is a challenge. Contract Management lets you take charge of all types of contracts across their entire lifecycle.
The Contract Management tool offers a standardised, best practice procedure for each phase of a contract, from requesting a contract and creating a first draft through to the final version and archiving. This provides you with a rapidly deployable solution, which can be easily customised to suit your own requirements.
THE VALUE
-
One location
All contracts, terms, and key dates are stored in one central location and can be viewed with one click of a button
-
Get reminders on time
Automated alerts and reminders to ensure that you abide by deadlines
-
Logical filing structure
Important information is stored within the contract files
-
Secure archiving
Secure retention of documents for a period of time determined by legal, regulatory, and business requirements
Contract Initiation
Automatically generate contracts
Generate a contract, termination, or other document with a single click. There is a corresponding template for each type of contract. The template management feature enables users to import specific information from the contract file.
Define users and permissions
Contracts contain sensitive data that must be protected from unauthorised access. The integrated permissions management system lets you assign unique roles so that you can control who has access to what.
Efficient approval process
You can create a workflow to define and control the required approval steps. This ensures that the review and approval process is transparent at all times and that the user is always aware of what stage of negotiations the contract is currently in. It is also possible to add users dynamically.
Collaboration
When drafting contracts, it is crucial that multiple departments work together. The document feed function makes collaboration easy – posts are visible to everyone participating in a feed discussion at all times.
THE BENEFITS
Relevant information at a glance
- Keep track of contract terms and deadlines so you never miss key
information or dates - Contract details are transparent and up-to-date
- Practical calendar with renewal and termination dates
- Reminder function and deadline management
Edit and manage data quickly
- End-to-end contract management and faster processing
- Transparent review and approval process
- Logical filing structure for all related files and documents
- Manage contracts in accordance with auditing requirements
- Automatically generate contracts
Contract governance and evaluation options
- Practical reporting function for various types of contracts
- Convenient liquidity management and cost control function
- Contract value is adjusted in line with daily exchange rates
Full access to information
- Integrate into existing applications (purchasing, project, etc.)
- Import and use data from other applications (e.g. ERP, SAP, NAV, etc.)
