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Digital contract management made easy
How to monitor and manage contracts more easily
Digital contract management – the highlights
An unbeatable advantage: integrate existing solutions such as ERP, DMS, Outlook, and digital signature.
With a simple interface: To get even more out of your digital contract management, link it to existing software extensions - for example, your ERP system or document management solutions. Link master data that is stored in both your ERP system and contract management solution. This enables you to efficiently access contract documents in a process-oriented manner at the critical points in the process and avoid duplicate data storage. Integration with third-party systems also makes it faster, easier, and more enjoyable for users to work with.
Make the most of the opportunities offered by digitalization by integrating Microsoft Outlook if required, so that email files can be directly assigned to the respective process or contract. Use the option to incorporate digital signatures so that you can work even faster — and from different locations.
Give us a call - your YAVEON consultants will be happy to show you further advantages.
The contract life cycle: the steps in the life of a contract
From the initial idea to permanent archiving: Contracts go through numerous phases in digital contract management which is designed for permanency. Here's what the contract lifecycle looks like:
1
Contract initiation
Whether an employment, rental or other contract: First, there is a need to create a contract — in the first step, the contract is initiated.
2
Creation and negotiation
Next step: fill the contract with content. These are then negotiated until the parties reach an agreement. With digital contract management, this can not only be handled faster, but also transparently. This is because every change can be tracked at a later point in time with version management.
3
Verification and approval
Just to be sure, the contract is checked thoroughly. Is everything correct? Then nothing stands in the way of approval - digitally, with just one click. The parties involved are automatically informed. By the way, you can also share documents with external stakeholders. This facilitates cooperation right from the start.
4
Signature
For a contract to be valid, the signature of the parties involved is required. As digital contract management enables digital signature, you don’t have to get everyone involved around the same table. This is particularly useful when working from home or from different locations.
5
Fulfillment
A kind of contract controlling is used to ensure that specified deadlines are met. For example, if a lease needs to be terminated three months before the end of the contract, digital contract management sends a timely reminder.
6
Archiving
All done, the contract is closed - now it's time to archive the contract. To ensure that it is stored securely, easy to find, and permanently retrievable, move it to the archive — in an audit-proof manner, of course. Has a contract has expired, and it needs to be canceled? The archive naturally includes this feature.
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The most important FAQs about the contract management
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