Digital Object and Contract Management

DOCM


DOCM means Digital Object & Contract Management.
DOCM is a customizable for several clients, process-controlled software solution for creating, editing, monitoring and evaluating contracts.

ADVANTAGES


Corporate contract management 
Every company department needs a different view of the data in a contract. A communication and collaboration platform can provide these different views of a contract management system centrally.

BENEFITS


Centralization of object and contract management with all contract-relevant digitalized information in a relational database creates the necessary transparency, enables compliance with legal obligations and thus forms the basis for your compliance processes.

The Brexit shows how important company-wide property and contract management is for companies operating throughout Europe!

In an article on the ntv website of 12 June 2019 entitled: EU demands 44 billion euros, the author writes among other things: "In the view of the Brussels Commission, the European Union is now well prepared for the dreaded Brexit without a treaty. No further legal emergency measures would be needed before the now valid departure date of 31 October, the EU Commission explained. All member states are highly prepared for all scenarios". […]
Contract management refers to all activities that deal with the development / design, administration, adaptation, processing and updating of all contracts of a company. The DOCM SharePoint solution supports the user in the activities and tasks defined above.
By subdividing the contract costs into "fixed costs" and "imputed costs" and "one-off costs", different payment models of the contracts, such as maintenance and purchase contracts, can be mapped.
Contract risks are only risks if they have not been evaluated and made manageable by an action plan to be taken. However, if this risk assessment is only a one-off process, i.e. these risks do not remain in focus through regular audits, then you cannot benefit from your previous assessment.

According to the Gartner Group, 60% of all supplier contracts automatically renew without the buyer's knowledge, mainly because the buyer fails to terminate the contract. Even more astonishing is the fact that 50% of the contracts are renewed several times without the buyer's knowledge (Forbes, Gardner group).

A laissez-faire attitude towards contract management can have serious financial consequences, as automatic contract renewals often involve more expensive terms and late terminations can lead to litigation and damage. Contracts are not documents to "sign and file", they are rather living documents that are subject to real events / changes.

Individual contracts either stand alone or are created in the context of an existing outline agreement and assigned to the outline agreement. A comprehensive classification is available for entering individual contracts. .
With a DOCM organization overview, you can easily get a quick overview. You can also create a company overview according to other criteria such as country locations, etc.