What business risks arise in the absence of a contract management system?

A brief listing of potential business risks in the absence of a contract management process and their impact:

Unevaluated content risks of contracts
By the existing possibility to evaluate contract risks in the context of the contract and by regular audits, you can introduce
a pre-warning stage into the VM process.
Failure to meet contractual deadlines such as option or notice periods
You can also manage contract-relevant dates in a deadline book, but for several hundred contracts a digital task and deadline management is certainly the better way.
Insufficient processing due to intransparent approval / release process
When you set up an approval/release process, no process remains "stuck" in the system. You can inform yourself at any
time about the documented status of a contract creation or administration process or receive information by e-mail.
Lack of actuality / distributed information status
If not all contract information is up to date, the risk analysis cannot correctly assess the company's consequences.
Difficult finding of contracts
If all contract-relevant information is not available at a central location, the compliance process is not ensured.
Loss of contracts/components of contracts
The violation of the duty of care represents a violation of the legally required documentation and storage obligation.

More about the topic

Which companies / organisations are involved in your company?

With a DOCM organization overview, you can easily get a quick overview. You can also create a company overview according to other criteria such as country locations, etc.

Do you have an overview of the revenue with your suppliers?

Contract Value Evaluation Customers Suppliers

Do you need a quick overview of the current turnover with your suppliers? On the basis of a contract value evaluation / analysis over the specified contract period of the recorded individual contracts, the SharePoint solution DOCM allows you to provide this information at any time without large evaluations with a mouse click.

Why invest money in a contract management system?

According to the Gartner Group, 60% of all supplier contracts automatically renew without the buyer's knowledge, mainly because the buyer fails to terminate the contract.

What is your benefit when using DOCM?

A centralization of the object and contract management with the archiving of all contract information in a relational database is crucial for the compliance with legal obligations, both for you and for other parties and thus represents the database / basis for your compliance process.

Managing contracts online in SharePoint - DOCM the solution

Contract management refers to all activities that deal with the development / design, administration, adaptation, processing and updating of all contracts of a company. The DOCM SharePoint solution supports the user in the activities and tasks defined above.

What are the requirements for a modern contract management system?

Anforderungen an Vertragsmanagementsystem

A modern contract management should guarantee a centralization of all company contracts for all relevant groups with regard to the completeness of the information and its evaluation. It should guarantee the confidentiality of the information related to the company parts / departments.

What are the benefits of using an enterprise-wide digital contract management solution for each user group?

Every company department (purchasing, controlling and legal department, etc.) needs a different view of the data of a contract and its evaluation.

DOCM Contract Structuring

The contractual framework is structured in individual, framework and consortium or project contracts. Individual contracts are concluded for a specific contract object; they can be concluded for a limited or unlimited period. An outline agreement is a scheduling agreement that defines the terms of delivery between the supplier and the customer. Consortium or project contracts are concluded for the realization of larger projects, usually construction or infrastructure measures.