Contract management system
Editing contracts is usually a multiole participant task, involving sales, engineering, legal, management and other departments. Accordingly, cooperaation among these organizational units is demanded by this task, involving organizational tasks too. xFLOWer workflow's contract management module not only enables parallel document editing, but also organizes the tasks related to contract editing, based on well defined, fixed business processes. Click and know more!
All contracts include some kind of obligation, accepted by both parties. Hence, by signing contracts, a number of tasks needs to be performed for contractual performance - in many cases at both party. Accordingly, signed contracts induce series of activities which tend to need resources from many departments. It is of key importance to comply with all obligations set forth in contracts, as this is the only way to ensure customer satisfaction and keep the goodwill of the company. Most DMS or contract management systems do not offer acceptable process support functions, lacking the workflow abilities needed to manage consistent quality performance in line with contractual obligations. xFLOWer offers solutions to these challenges . contracts, edited in the system become searchable instantly while - manually or automatically - business processes may start upon approval. Know more by clicking here!
In case your contracts are stored electronically, it is almost sure that traceability is insured on the level of document name search. But what if you'd like to search for something else, for example, data included in the contracts or contracts from a given timeframe or other qualities? File manager type archives are not able to provide such functionality. The same way, such system cannot "tell" which contract expires when, when and how it needs to renewed, what data does it contain, and so on. xFLOWer on the other hand provides all the mentioned functions, moreover, contracts can be managed in business processes too. Therefore all tasks, related to contact management can be performed through predefined business processes, constantly monitored by xFLOWer.
xFLOWer opens the possibility to store, edit and manage contract on the level of business processes. What does this mean in practice? For example, in case of a service contract, in which certain text blocks are subjects to change. The system is able to "slice" these documents, distribute the slices to different contributors for editing, and after editing "recompiles" the whole document including the edited parts. Why is this function useful? xFLOWer distributes these slices based on workflows for editing and also, monitors editing deadlines, and automatically redistributes the slices or the entire document for approval - based on user permissions. Therefore, all these tasks can be done in parallel, reducing overall editing times and making such processes faster. Approval processes can also be defined freely: serial, parallel, 2-4X eye, N/M approver must approve, and so on. In case a slice is not approved, the slice is sent back for editing to its person and charge with the comments of the approver. The lifespan of contracts however does not end with their approvals; instead, approvals are followed by a number of different business processes. Completion, projects, cooperation among departments and others - these processes are usually not supported by contract management or DMS systems. xFLOWer on the other hand is capable of managing all types of business processes including such, contract related activities. Therefore all business processes can be managed in a unified database and in a system familiar to all participants.
Fulfilling contractual obligations is most probably one of the key issues at every company. Service and fulfillment quality is determinative to the goodwill of the enterprise, so that it is most important to perform these activities in constantly high quality and based on consistent business processes. The lack of appropriate process support systems - workflow systems - may lead to cumbersome operations and decreasing service quality, which may result in negative customer experience, low customer satisfaction and many other problems. xFLOWer workflow system is able to manage all business processes, and therefore is able to command fulfillment and project tasks too. How is it different from a project management system? First, it manages all documents needed for any given business process. Second, all business processes are predefined in the system, so that every single task is performed in line with the previously set deadlines and activities. Moreover, all these features are available from the cloud, saving you time, effort and money and making all features available anytime, anywhere.
There is a number of business activities needs to be done with archived contracts or other documents. Take document eradication for example - in this case after a certain period of time, documents can be shredded or otherwise destructed. It is an important task, as it saves storage space and also, protects the environment by providing raw material for recycled paper production. In case there is a digital version of the paper based documents, xFLOWer automatically initiates the required processes without any human interaction. On the other hand, if only paper based versions exist, it is still possible to set up eradication processes with predefined deadlines and start dates in xFLOWer, so xFLOWer will also manage the destruction of these documents. In both cases, all tasks are distributed in the organization, and their completion is also followed up by the system, enabling precise, consistent document and data destruction business processes. Therefore, not only storage costs are saved by destruction, but also, documents including sensitive data can be destructed in controlled, well designed processes. Lift your data security to new levels by using xFLOWer - see a demo in person or via Skype by contacting us!
All businesses are influenced by its actual contracts with:
Since all important agreements are made in the form of business contracts, accessibility, storage and archiving of such documents is of pinnacle importance. Furthermore, certain contracts must be managed, archived, stored in line with respective legal obligations with the possibility to access them anytime authorities require.
xFLOWer is a robust and mature cloud based workflow and business process management solution. Its development started more than 18 years ago, and it evolved through the years based on international business experience and the actual needs of business leader throughout Europe. Contrary to other contract management systems, xFLOWer is not only a registry software in which statuses and deadlines can be adjusted, but a much more comprehensive, yet easy to use workflow system capable of managing user rights and historic contract data.
The xFLOWer contract management module is part of the xFLOWer process management framework, including the most required business processes and data sets predefined. Although, all these predefined values can be tailored and expanded as needed during the implementation period or anytime later!
xFLOWer contract management is a cloud based solution, however it "only" ensures a framework to create a business environment for your company - one in which you don't have to change your systems and operation frequently. Check out the xFLOWer Cloud product range - you can access all these features anytime: if you need any of it now, it is available, if it will be needed later, implementation into your existing xFLOWer instance will be flawless.
In the xFLOWer contract management module, everything is controlled by business processes, to which documents are attached. The processes are guiding all colleagues step by step through the administration tasks, so it is not possible to omit any required step of contract management processes.
Contract management processes does not end at signing the contracts. xFLOWer contract management can control all operative lifecycle related to contracting, such as:
Of course, you are free to decide what processes you use, however, we suggest the following processes to start with:
Parameterized to fit your exact needs.
xFLOWer contract management module includes customer data sets by default, however, you are free to decide what further types of data you want to store and manage. The possibilities are endless: store customers' company size, location, buying potential, premises, contact persons or unique data types such as foot size, language knowledge, turnover, political relationships or the GM's kids names - really whatever you may imagine!
Related to your specialties, information linked to your product or service can be managed at the level of individual contracts, or you may create different contract management processes for different product or service types.
In case you have existing data sets in different systems, it is possible to establish interface connections to these systems. Hence, there's no need to re-enter existing data into xFLOWer during implementation.
In case you need different data sets, not only a customer database, it is also possible with xFLOWer. Create data sets for HR, real estate, receivables, accessories, partners or anything else. Contract management processes will always be attached to the appropriate data set.
Preparing, approving and signing of contracts must be followed by secure storage, archiving, modification and traceability anytime after.
xFLOWer Cloud manages all these, integrated into the company's processes. Thus, in case a contract is needed to complete a process, xFLOWer attaches the appropriate stored (in case of an approved and reused contract) or new (to be created and approved) contract to the process step. After approval, all contracts are filed, stored and indexed.
Let's see how the contract management module works through a sales contracting example:
Automatic checks can be set up for existing contracts, so for example, before expiration the system sends an alert to the responsible personnel to start a renewal process.
Even the best system can’t provide a complete solution if operational processes are designated erroneously. For this reason, ready – made processes based on international best practices are integrated into all xFLOWer modules, which ensure professional organization of work from the first moment of usage. This unique feature enables business leaders to redefine operational processes solely by appointing coworkers for certain tasks – the rest is done by xFLOWer.
xFLOWer Cloud contract management module contains all the above features and enables the definition, management and automation of all operational processes regardless the number of processes, users of documents involved. By automating certain tasks, resources are freed within the organization, hence saving costs, time and energy for your enterprise. Therefore the company is enabled to focus on sales, clients and the constant development of its core competence to retain its competitive edge.
