Must-haves in digital contract management
Compliance requirements are increasing, leading to ever higher demands, especially on management. This also applies to the numerous contracts with suppliers and customers that companies must handle properly. Electronic contract management provides a remedy.
In many companies, contracts are scattered across different departments - from purchasing to the legal department to various specialist departments. The only problem is that it is almost impossible to keep track of everything. The consequence: missed deadlines or incomplete documents. With contract management software, however, it becomes possible to store contracts centrally, transparently and in an audit-proof manner. forcont business technology gmbh, a German software company specializing in enterprise content management (ECM), presents five central functions with which a digital solution for contract management can streamline internal processes.
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- Deadline Management: Thanks to automated deadline control, employees can create timely reminders even for contracts that have been running for years. Missed deadlines are now a thing of the past.
- Interfaces: Supplier and customer data can be updated automatically via an interface to the ERP system. This means they are always up to date.
- Full text search: In order to easily check documents for specific keywords, OCR text recognition should make all scanned documents searchable.
- Document creation: Thanks to integrated document creation, for example, in the course of terminating contracts, the corresponding termination letters can be created, delivered and archived directly.
- Access Control: An authorization system regulates access to contract data very precisely. This means that employees from other departments or external parties can also be granted reading rights, e.g. controllers for reporting purposes or auditors for an external audit.
These five points are an excerpt from the white paper "Active design instead of just administration: How digital contract management can streamline your internal processes" by forcont business technology gmbh. The software house shows what a digital contract management solution must be able to do in order to sustainably optimize internal processes and guarantee compliance-compliant administration. This enables employees from the areas of purchasing, controlling and sales to better assess how digital contract management can relieve them. The whitepaper is available download here for free ready
More information: www.forcont.de
