HomeBUSINESSContract Management: A Digital Solution Offers These Advantages

Contract Management: A Digital Solution Offers These Advantages

Digitization is being implemented in more and more companies but often ends with contract management. The administration of contracts, is often still implemented analogously. A digital solution offers numerous advantages.

If no modern contract management is in place, companies miss notice periods, carry out tiresome research and make wrong decisions due to a lack of information. Digital contract management provides companies with valuable help. The accounting department no longer has to diligently manage the entire leasing, rental, service, purchase, and cooperation contracts by hand. Contract management, such as that offered by Process, bundles all documents uniformly. The central system has convenient search and filter functions, but it is much more than digitized filing. 

Contract Management Leads To Cost Reduction

Like an alarm clock for expiration and notice periods, the solution significantly contributes to reducing costs. Unwanted contract extensions will then be a thing of the past. If desired, those responsible can be automatically reminded and warned by e-mail. They are always up to date without any research effort and know when which contract expires, has to be terminated or extended. Thanks to the integrated controlling and evaluation tools with liquidity and payment plan, executives can also make targeted future decisions and optimize costs. With just a few clicks, you get budget and plan figures or detailed calculations of income and expenses for a certain period.

Legally compliant archiving and access control play a crucial role, especially for contracts. It is not uncommon for sensitive data or confidential information to be involved. Process contract management has a comprehensive authorization concept in which access rules can be defined precisely for each type of contract, organizational unit, function group, or person. In addition, it supports qualitatively different authorization levels, from simple reading rights to extensive editing and evaluation of important financial data. If desired, the contracts are also automatically stored digitally with the process data in an audit-proof archive.

Enable Cross-Departmental And Cross-Location Collaboration

Integration into a personal Microsoft Outlook mailbox is also possible. The solution from Process simplifies digital, cross-departmental, and cross-location collaboration on different documents and folders for employees – even from the home office. Authorized persons can also access the system on the go via the web client. Even when talking to a customer, all relevant contact information is available with just a few clicks, whether via laptops, tablets, or smartphones. The Process offers an independent solution that can also be used as a modular tool within the DMS with contract management. Additional third-party systems can be easily connected via standard interfaces.

Process GmbH is the document management system provider of the same name. The Process primarily supports medium-sized companies in designing their digital document processes of tomorrow. The company was formed in 2019 from the merger of Akzentum and Habel – two pioneers of the document management system. The head office is in Rietheim-Weilheim, further branches are in Leipzig, Rengsdorf (Westerwald) and Thayngen in Switzerland. Incidentally, the name Process stands for “progress” and “success.”

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