Contract Management and Administration

Contract management and administration covers the entire contract cycle including contract commenting, its secure and long term storage, access to contracts for authorized persons only, and the notification mechanisms.

 

Every company concludes many types of contracts. These contracts are of various kinds, from various suppliers, and contain sensitive information. With a large number of such contracts, it is not easy to have a good overview of all of them, of their amendments, and of associated deadlines. The electronic system provides a unified repository for all the contracts, enhances searching for them and, last but not least, regularly creates notifications on their approaching expiry.

 

Features

• Workflow for contract comment and approval process
• Electronization (scanning) of paper invoices
• Data extraction based on OCR and their validation compared with operating databases
• Secure repository of all the documents
• Possibility of internal contract approval
• Detailed management of access authorizations
• Easy and fast contract search including fulltext search
• Wide range of notification mechanisms – contract term monitoring and other options
• Simple installation and configuration of the solution

Benefits

• Flexible and fast contract comment process
• Secure storage of contracts, contracts are available to authorized persons only
• Accelerated contract search
• No missed deadlines and thus no sanctions
• Unified handling of contracts