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Digital contract management

A handshake is considered a contract among respectable business people. Such a handshake naturally does not cover the details. This can come back to haunt you if your respective recollections of that conversation no longer align. Digital contract management offers the solution, with the latest version of all contracts available for all the relevant parties to see, including all the details.

Digital contract management is a module of an ECM solution. These software solutions capture, structure, manage and archive documents. Digital workflows monitor the documents as they pass through all the stages of the process. ECM solutions allow the user to see how far the document has moved on its journey at any time, as well as the next step of the process. This saves time, cuts costs and ensures transparency – especially in contract management. What’s more, you can choose whether to integrate our ECM solutions into your IT systems or use them in the cloud with yuuvis® RAD as a Service.

The advantages of digital contract management

The ECM module for contract files automatically reminds you of deadlines for any payment, maintenance or contract expiry dates. It provides all those involved with the information they need at the touch of a button and even when they are out and about. Other benefits include:
  • Huge time savings in creating, managing and amending contracts
  • Comprehensive overview of the contract processes, setting of milestones and resubmissions for the entire duration of the process
  • Incoming contracts are identified, automatically distributed and compared with existing data *
  • Structured visualisation and allocation of all of a given customer’s documents
  • Cost advantages owing to optimised use of quotas and conditions
  • Planning security thanks to timely start of renegotiations in the event of an expiring contract
*For matching Ad-ons (e.g. ABBYY)
Digital contract management avoids hassle as well as unnecessary searching. Contracts tend to be lengthy - finding the job you want in paper files, phew, that can take a long time. It is wise to digitise contracts for this reason alone. Supplier contracts in particular, but also rental, credit and service contracts are especially suited to digital contract management – if only because of the complex, frequently changing terms and conditions.

Your contract management system – integrated or in the cloud?

Suitable document management processes are needed to support a digital contract management system. ECM solutions can deliver these workflows. ECM stands for Enterprise Content Management. These modular systems deal with capturing, managing, storing, maintaining and distributing documents in digital form. At the same time, ECM systems define customised workflows that route documents through the system with the desired degree of automation.

When these ECM systemsare incorporated in in-house IT systems, the experts refer to them as on-prem solutions, because the ECM system is located on the actual premises. TA Triumph-Adler offers this ECM variant with the integrated ECM Contract Management module developed by enaio:
If you want to make the most of the benefits of an ECM solution for your contract management process without burdening your IT department with additional tasks, yuuvis® RAD as a Service is the perfect solution for you. It is based on the ECM software yuuvis® RAD developed by Optimal Systems. You can use our yuuvis® RAD as a Service solution to move your document management to the cloud. It gives you all the advantages of ECM software without having to worry about the technology. In fact, the opposite is true: updates and patches are applied automatically without you having to bother with them.

Attention! Please note that our product demonstration is only available within Germany.

Improved contract management

The nucleus of every contract file is a stipulated and clearly laid out basic structure that is always visually consistent - with workflows that likewise follow various stipulations. These processes are designed to meet the customer’s requirements.

For instance, digital contract management supports cooperation between the various departments, with overarching workflows that range from contract creation with template management, to review and approval processes, to contract renewal or termination. The defined processes are used, for example, to coordinate and approve contracts electronically between a specialist department, the legal and contract departments and the senior management. What’s more, contract files can also be made available to external parties if required, for example to external litigators in the event of a dispute. Not with a handshake - but in the blink of an eye.

Would you like to discover more about the ECM Digital Contract Management Module?
We would be happy to hold a consultation with you!
Would you like to find out more information beforehand? Then download our whitepaper “ECM – How to digitise your business processes”!

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