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There is probably nothing more fundamental to business than a contract. If finance is the lifeblood of an organisation, contracts are a connective tissue of trust and understanding that holds everything together. Yet, in many companies, it is an inflexible pain point, as contracts remain tied to outdated paper-based processes. This results in:
As anyone managing hard copies of contracts will tell you, it's labour-intensive. All the challenges of manual processing are removed by digital contract management. Digitisation of contracts removes paper from the process and simplifies storage and retrieval by putting contracts into a single central database.
Yet every business is different, and the process of selecting and implementing an appropriate solution needs to be handled carefully. Konica Minolta takes a customer-centric approach towards digital contract management that takes into consideration each company’s business environment and working processes. Individually tailored contract management solutions are designed around the customer’s needs.
With Konica Minolta's digital contract management each document is scanned and automatically indexed, notifying staff members, parties and signatories. All contracts are stored in one database, so everything is in one place. Everyone knows what is happening. The benefits of this contract administration include less human error, version control and faster approvals. All the information you need will be available at the touch of a button - from text searches of the entire content of a contract to the analyses of contract conditions, contract value and parameters.
Contracts underpin almost every relationship in business - from customers, suppliers and partners to employees. They are a basis of trust and understanding. Yet, contract management is often overlooked in digitalisation processes, leaving businesses in the dark and exposed to the risks inherent in manual processes. Contracts are not easy to manage in the traditional, paper-based way. Archiving takes up office space, data input and searches are time-consuming, while missed deadlines can lead to penalties for non-compliance.
With Konica Minolta solutions for contract management we are helping you break free and regain control over their documents and contracts. This not only helps speed up processes, save money and relieve employees, but it also helps to improve the relationships with other company stakeholders. The system standardises and automates all the phases of contract management, from contract requests to authoring and execution workflows using electronic signatures (like DocuSign).
It cuts the risk of legal or audit costs and helps financial control. The system sends notifications in which any deadlines, approvals, changes or cancellations are flagged up, and your management teams can make the best use of all contract advantages.
It supports compliance and data protection through authorisation and personal access rights - a level of security which far exceeds conventional paper archive.
Contract Management is a core business function that spans both operational and legal concerns and underpins every essential relationship – from customers to vendors, to partners, employees and suppliers. And yet, for many businesses, the vital organisational task of Contract Management remains a manual, paper-based task that’s highly labour-intensive and inefficient.
As businesses pursue digital transformation, many are looking to adopt electronic signatures. What are the key...
We know that every organisation is unique, which is why each engagement starts with a conversation. We're ready to listen, so contact us today.
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