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ECM Contract Management Module

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. Every agreement falls apart when the treaty is interpreted differently. Digital contract management offers the solution, with the guaranteed latest version available for all parties to see, with all the details.

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. The foundations for this are provided by document management systems, or DMS for short. ECM solutions are based on DMS processes in order to configure the contract files appropriately. The abbreviation 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 automatically route documents through the system as desired.

Deadline expiring? The contract “let's you know”

The ECM module for contract files automatically reminds you of deadlines for any payment, maintenance or contract expiry dates. It also provides all those involved with the information they need at the touch of a button and even while on the move. The result:

  • Huge time savings in creating, managing and amending contracts
  • Complete overview of contract processes
  • 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

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 workflows are tailored to meet the individual needs of each company.

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 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?

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