Contract Management

As your company grows or even crosses country borders, your purchasing needs increase and diversify. To be able to sign million-dollar contracts with peace in mind, you must make sure that you define and manage your risks. The securest and safest way for this is to create a good contract management system. Good contract management stands out as one of your company’s most important competitive advantages for effective management of supply chain structures and project-based studies. Developed on the OpenText Content Server platform with more than 20 years of experience of Çözümevi, the Contract Management solution helps you manage all your contract documents through a single and customizable interface and perform end-to-end digital contract management.

With Çözümevi Contract Management, you can monitor your contracts from anywhere!

Çözümevi Contract Management redesigns all contract management processes of your enterprise with a flawless infrastructure. Since it has been developed to be suitable for use from all mobile devices, you can check, approve, update your contracts and initiate additional protocols for your existing contracts from any device, wherever you are. In addition, you can add your old contract documents together with the price, duration, contract conditions and many details to the system and create a digital copy.

You can define for all your companies without the need for additional development and digitize your purchasing and sales processes end-to-end with the approvals of requesters, lawyers, accounting officers and senior management. You can make contract master data and customer – vendor integrations through the SAP ERP system and finalize the digital contract process completely with the electronic signature infrastructure. Moreover, multilingual…

With Microsoft Office integration, you can automatically create your contracts with the standard Word application you are used to, make changes and automatically archive each change as a new version on the system.

What is a contract?

A binding agreement between two or more companies to do or not to do a particular job. It is of great importance for the effective operation of project management and supply procurement. It helps to structure relations between buyers and sellers, in other words, between customers and suppliers. We can define contracts that are well-prepared in terms of content, well-constructed in terms of fulfilling legal obligations, defining customer-supplier responsibilities and rights, also as a good risk management tool since they distribute and control business risks.

What is a contract?

It includes managing all phases of contract preparation, signing and execution in order to improve financial and operating performance and minimize risk in a company’s purchasing operations. We can define it as contract management or agreement management.

Legally binding contracts touch every aspect of companies and define their relationships with business partners, suppliers, customers and employees. According to a Gartner study, 60 to 80 percent of B2B, or intercompany transactions, are managed by a contractual agreement. On the other hand, PricewaterhouseCoopers states that companies in the Fortune 500 manage between 20.000 and 40.000 active contracts on average. The Aberdeen Group also explains that 15% of a company’s contracts have been lost or not taken into account.

What does contract management mean?

It includes managing all phases of contract preparation, signing and execution in order to improve financial and operating performance and minimize risk in a company’s purchasing operations. We can define it as contract management or agreement management.

Legally binding contracts touch every aspect of companies and define their relationships with business partners, suppliers, customers and employees. According to a Gartner study, 60 to 80 percent of B2B, or intercompany transactions, are managed by a contractual agreement. On the other hand, PricewaterhouseCoopers states that companies in the Fortune 500 manage between 20.000 and 40.000 active contracts on average. The Aberdeen Group also explains that 15% of a company’s contracts have been lost or not taken into account.

What are the difficulties of contract management?

  • Lack of visibility and related date tracking
  • The difficulty of tracking the workflow in transaction and renewal processes
  • Necessity to comply with obligations, regulations or laws (for example, KVKK)
  • Inability to track individual performance and transaction times
  • Complexity of storage and access in different areas

What are the advantages of contract management?

An effective contract management system increases the purchasing performance of companies and accordingly, their operational value. Since it records the contracts made with all suppliers, the contract life cycle, which starts with the request, continues until the contract end date tracking is completed.

It ensures that the contracting parties work in harmony by understanding each other’s expectations and obligations. It prevents possible loss of time and money and ensures realistic profit targeting, as problems that may arise during the process are foreseen.

With the Contract Management solution, you can take all the necessary steps for your contract processes, from request to ordering, from existing contract to additional protocol, from evaluation to renewal, from validity tracking to approval processes and you can easily manage the entire contract lifecycle from a single screen.

What's in the Çözümevi Contract Management?

An effective contract management system increases the purchasing performance of companies and accordingly, their operational value. Since it records the contracts made with all suppliers, the contract life cycle, which starts with the request, continues until the contract end date tracking is completed.

It ensures that the contracting parties work in harmony by understanding each other’s expectations and obligations. It prevents possible loss of time and money and ensures realistic profit targeting, as problems that may arise during the process are foreseen.

With the Contract Management solution, you can take all the necessary steps for your contract processes, from request to ordering, from existing contract to additional protocol, from evaluation to renewal, from validity tracking to approval processes and you can easily manage the entire contract lifecycle from a single screen.

Central Content Management

  • Single institutional archive
  • Consistent metadata
  • Filtered central view

Consistent Management

  • Standardized user-friendly interfaces
  • Customizable and multiplexable templates
  • Parametric contract metadata definitions
  • Compatibility with multi-company/departmental structure
  • SAP ERP Contract Document Integration

Simplified Process Infrastructure

  • Parametric process identification
  • Confirmation steps
  • Automatic notification e-mails
  • Notification with custom e-mail templates
  • Automatic contract validity tracking and alert structure

Institutional Level

  • Secure user login
  • Role based identification
  • Log recording of all transactions
  • Easy process editing with Low Code Development

Why should you use the Contract Management solution?

  • By using an end-to-end digital contract management solution, you can include your customers and salespeople in your workflows.
  • You can update your contract documents at any time and be tracked from anywhere.
  • By minimizing the possibility of making mistakes, you can control the possible risks and costs before purchasing the product / service.
  • You can hide confidential information that you do not want to appear in contract documents, and maximize the security of your contracts with the download and printing restriction feature.
  • You can collect your contracts under a fast, technological and reliable roof and automatically track their validity.
  • Thanks to the comparison feature, you can easily monitor the changes or version differences made by the other party.
  • You can gain time and cost advantages by accelerating purchases from the same supplier.
  • You can receive notifications about your expired contracts and minimize user-related errors.
  • You can benefit from the know-how of an experienced OpenText partner and receive development and technical support from the OpenText ECM solutions department within Çözümevi.