The daily operations of an organisation are difficult to imagine without contracts. As operations expand, the processes related to their management also increase.
A digitised contract management solution helps to manage these processes efficiently, reducing paper costs and information management costs. It is estimated that it also makes work more efficient by speeding up the search for information in contracts and speeding up operational processes.
Novian’s contract management solution is based on Microsoft’s SharePoint Online, Power Apps and Power Automate technologies and can be customised to suit the specific needs of an organisation.
How the solution works
Thanks to the contract management solution, all contracts are stored centrally in the client’s SharePoint Online environment, which ensures the collection, aggregation, processing, structuring, storage and reporting of the data they contain.
Once drafted, the contracts can be submitted within the organisation for approval, validation and final signature.
The approval process is carried out by selecting the necessary verifiers in the system, who are notified of the need to review and verify the contract to be approved.
The software allows you to review comments and make adjustments to the contract, and those involved in the approval process can see all the adjustments in the software.
Once the contract has been approved, it can be printed and made available for signature within the organisation and to external users. Signing is possible with both unauthenticated and authenticated e-signatures (integrated with Dokobit).
Contracts in the system can be supplemented, for example, by adding annexes or certificates of delivery and acceptance of services or goods.
Benefits of the solution
This contract management solution is attractive compared to non-digitalised contract management in that it speeds up the approval, validation and processing of documents through electronic tasks. In addition to that, the following advantages have been identified:
- The status of the document (e.g. in preparation, in the process of approval, signed and sent, signed by all parties, invalid) and the person responsible are always known.
- It eliminates the likelihood of documents being lost.
- Approved and signed documents are stored in a single document repository.
- Documents are signed with an e-signature without leaving the system environment.
- The document and related information can be found quickly.
- It prevents contracts from being deleted or lost.
- Document annexes are linked to the main document. When a new annex is drafted, it is linked to the main document.
- Users of the solution are sent reminders of extensions, terminations and other necessary deadlines.
- It limits redundant information (information is accessed according to hierarchy and roles).
- Employees are provided with an online working principle. Contracts can be approved and reviewed using the mobile app.
