Risks and the associated costs can only be avoided if you have an overview of all your contracts.
It is one of the purchasing department’s main tasks to negotiate contracts minimizing all related costs.
From contract initiation and negotiations, to administration and governance, to contract archiving: It isn’t easy to know what contracts are your responsibility and what they set out in every phase of the contract life cycle. The number of contracts increases continuously, and contracts often are not available to the responsible employees or departments in their entirety or at all, as they are spread across different departments or company locations. This makes it virtually impossible to ensure systematic, fast access to all required documents and information, not to mention keeping an overview.
This is where all company data and information converges.
A digital contract management system ensures professional handling of contracts. Combined with an ECM system, you are off to a good start.
Enterprise content management comprises all technologies, methods, and tools for capturing, digitizing, saving, managing, and providing all company information (documents, data, images, videos, etc.). It enables companies to optimize virtually all business processes. Those looking to digitize more than just their contract management, for example complete departments or the entire company, will have a hard time avoiding ECM systems.
Some ECM systems can be extended with modules and interfaces to meet additional needs. Providers also offer
standardized solutions for fast project implementation. Solutions can be intermeshed: not only can purchasing
benefit from contract management, the HR department can also use the solution to manage its employment contracts and transfer them to a digital personnel file – provided all the software requirements are met.
Because an ECM system acts as a central data and information repository. It serves as the central location for company information management, rendering high-maintenance, cost-intensive standalone solutions and escalating administrative work unnecessary.
Numerous workflows and automatic processes within an ECM system ensure collaboration between departments fully automatically without forcing employees to switch programs. The required information is generated from the interfaces between the ECM system and the commercial applications, groupware, accounting programs, ERP systems, and business applications.
This is the only way to automatically capture and process the relevant data for a digital contract management
system. The volume of data also has to be considered: Companies have thousands of contracts to manage and
keep track of. This is where a fast ECM system comes into play, allowing you to file your contractual documents in compliance with law while providing you access to them company-wide.
Contracts are one of your most valuable assets — manage them professionally with ELO Contract.
Transparency and compliance
Control the contract life cycle
Effortless and in real time
Anyone working with contracts knows how important it is to keep an eye on terms and deadlines. The digital software solution ELO Contract does this work for you, allowing you to focus more on negotiations and other tasks.
View all relevant contract information, analyze data, and adapt your governance framework in a dashboard. An integrated calendar additionally displays all deadlines and provides different viewing options.
Contracts are stored in the central ELO system in accordance with legal requirements. Workflows automate routine tasks and make collaboration smoother and more effective between departments.
If you want to sign your contacts digitally or complement them with clauses, you’ve also come to the right place with ELO Contract.
Managing contracts is one aspect, but do you also want to sign them digitally without any hassle? Then look no further: ELO transfers contracts to DocuSign and sends an e-mail to notify the recipient. As soon as the contract is signed, ELO automatically puts it back in the same location. The days of printing out, signing, scanning, and re-filing documents are over – have your contracts signed digitally with ELO for DocuSign.
ELO Contract makes all this possible: Easy to install, based on best practices from numerous ELO customers, and upgradeable at any time.
You want to work with clauses in your contract templates or insert boilerplates that you can use time and again? No problem: After all, ELO Contract features a clause management tool provided with the ELO Business Solution as standard.
It’s compatible with all contract types and is super easy to use. You simply define the mandatory contract components as standard texts for your clauses once or you create your own boilerplates for contract data. These placeholders are completed with information from the system when the contract is created. You can conveniently insert the text elements in all contracts. Any changes you want are easy to make – and the contents of your contracts can be updated before signing with just a click.
Manage different types of contracts in accordance with retention regulations
Monitor contract status and track deadlines
Ensure everyone involved is on the same page
Protect confidential information
Compare data while taking into account foreign currencies and exchange rates
Mobile access via smartphone and tablet
Digital signature with ELO for DocuSign
Insert and update clauses automatically
Maximum transparency thanks to version history
The Dashboard
The contract management dashboard offers you a wide range of options to monitor contracts, review performance, and analyze data at the same time.
The Calendar
See all deadline at a glance in the practical calendar view:
©2024 DocsHero. All Rights Reserved.
©2024 DocsHero. All Rights Reserved.
©2024 DocsHero. All Rights Reserved.
©2024 DocsHero. All Rights Reserved.
