Are you considering starting to manage your contracts completely digitally? Your own, or perhaps corporate?
Here we give some tips on things you should consider.
We often enter into agreements, both as private individuals and in our professional roles. Many times the agreement itself is of such little value or valid for such a short time that we do not care about it.
Some examples of contractual situations:
A good way to get an overview of the company's contracts is to look at incoming (IN) and outgoing (OUT) contract flows.
Is it best to register the contracts centralized, decentralized or a mix? Registration of a contract means registration in a contract system or how one otherwise keeps track of the contract in question and what status it has. Registration can be done in many different ways. Listed below are some options and its pros and cons.
List processes for both incoming and outgoing flows.
Start from the different types of contracts that you have. What contract information is used by different departments in your business? Perhaps the hourly rate for a consulting contract should be used for invoicing and the same consulting contract should be extended regularly. How is reporting and monitoring handled for this?
Access and security are fundamental to the efficient and secure handling of contracts. It can also be decisive for which contract system is to be used. The fact that individuals and groups only have access to a subset of contracts reduces the "noise", ie that they need to manually filter out uninteresting contracts. This is of course good for efficiency. At the same time, security increases, ie keeping sensitive contract information confidential.
The survey as above can take less than 1 day for smaller companies. For larger companies, this is of course a more extensive task.