Client
A world-renowned luxury sanitary brand with over a century of experience in the design and production of superior bathroom products. Known for their commitment to innovation and quality, the client operates a vast network of businesses across the globe, setting industry standards in design excellence and functionality.
Requirement
They faced significant challenges in managing their contract lifecycle due to a highly complicated manual process. The requirement was to automate the entire contract management process, from drafting to signing, to improve efficiency, visibility, and reduce risks.
Challenges
Our Client faced faced multiple operational challenges that necessitated the implementation of an automated contract management solution:
Lack of Comprehensive Visibility:
They struggled with limited visibility into the contract lifecycle, which led to difficulties in tracking the status and progress of contracts. This lack of transparency made it challenging to ensure timely renewals and compliance with contractual obligations.
Complicated Manual Processes:
The existing manual contract management process was highly complicated and labor-intensive. Each step, from drafting to approval and renewal, involved numerous manual interventions, increasing the risk of errors and inefficiencies.
Error-Prone Approval Workflows:
The manual approval process was susceptible to errors and bottlenecks, causing delays and inconsistencies.
No Central Repository:
Contracts were stored in disparate locations, making it difficult to access and manage contract-related documents.
Manual Tracking Issues:
Tracking the status of contracts manually was a cumbersome task that often led to overlooked deadlines and missed renewal opportunities.
Inefficiencies in Collaboration:
Inter-departmental collaboration was hampered by the lack of a unified system. Teams struggled to share and review contracts efficiently, leading to delays and miscommunications.
High Risk of Non-Compliance:
The manual processes increased the risk of non-compliance with internal policies and regulatory requirements. Missing key deadlines or failing to adhere to contractual terms could result in legal and financial penalties.
Solution
We developed the Enterprise Contract Management Software on Microsoft SharePoint automating the end-to-end contract lifecycle management. The key features of the contract lifecycle management software included:
01
Quick Document Drafting:
Automatically generate department-wise contract drafts from pre-configured templates for review by different teams, simplifying the drafting and preparation of contracts.
02
Automated Approval Process:
Workflow automation makes internal approvals easy and quick, including automated approval management based on the type of agreement, streamlining the approval process.
03
Digital Signature Capture:
Integration of digital signature capabilities for vendors/contractors to expedite the signing process, facilitating quick and secure signing of contracts.
04
Contract Renewal Process:
Completely automated contract renewal process with automated reminders for renewals, ensuring notifications and reminders for upcoming renewals.
05
Contract Review:
Ensures thorough review by relevant departments, reducing errors and improving accuracy.
06
Internal Approval Process Automation:
Automates the entire internal approval process, making it quicker and more efficient.
07
Dynamic Report Generation:
Provides detailed and customizable reports for better insights and decision-making, offering comprehensive visibility and control over the contract lifecycle.
08
Central Repository:
Acts as a central repository for all contract-related information, ensuring easy access, secure storage, and management of contracts.
Results
Implementing our SharePoint based Tax and Legal Notice Management System resulted in tangible business benefits for the client:
Achieved Contract Management Lifecycle Automation:
The entire contract management lifecycle was automated, reducing manual effort and errors.
Improved Workflow Efficiency:
Workflow efficiency was enhanced by 35% since implementation.
Better Inter-Departmental Collaboration:
: Collaboration across departments improved, ensuring smoother contract management processes.
Comprehensive Visibility:
Comprehensive visibility on all contract management details was achieved.
Central Repository:
The system acted as a central repository for all contract-related information, ensuring easy access and management.
Process Automation:
Transitioned from manual to automated processes, significantly improving efficiency and reducing errors.
E-Signature Capture:
Expedited contract signing processes, avoiding unnecessary delays.
Renewal Notifications:
Automated renewal and overdue notifications kept teams informed, preventing missed deadlines.
Dispute Elimination:
Disputes and unnecessary fines/penalties due to delayed responses and actions were reduced.
Accurate Reporting:
Accurate reports were generated, providing valuable insights for decision-making.
Benefits
By trusting our efficient MS SharePoint based Contract Management System, the client benefited in the following ways:
Easy Implementation:
The system was implemented without additional infrastructure and was available as a SaaS model, reducing hardware costs.
One-Time Cost:
Offered as a SaaS model with a one-time cost, eliminating the need for ongoing hardware expenditure.
Specialized Knowledge:
With a team of seasoned professionals with expertise in designing and implementing tax and legal notice management, ensures your business receives top-notch guidance and support at all times.
Proven Track Record:
With an enviable history of successful implementations and highly satisfied clients, our methodologies have proven to deliver guaranteed results.
Comprehensive Solutions:
All our MS SharePoint based solutions offer a centralized platform for complete contract lifecycle management with highly customizable features.
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