Digital Object and Contract Management

DOCM


What is DOCM? DOCM stands for Digital Object & Contract Management. DOCM is a systematic, process-driven software solution for creating, processing, 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".
[…]
"Despite the overall positive assessment of the emergency measures, the Commission complained that some insurance companies and financial service providers were "not well prepared" on some points, such as contract management. They are strongly urged to complete their preparations by 31 October". (Source: n-tv.de, mau/rts/dpa, 12 June 2019)

This statement shows that in the area of contract management, deficits have also been identified in large groups of insurance companies and financial service providers. Here, a corresponding object and contract management software available company-wide can meet the controlling and compliance requirements.

Translated with www.DeepL.com/Translator

Why invest money in a contract management system?

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.

Actions of the parties involved can trigger contract clauses and require the fulfillment of requirements based on certain deadlines (framework contracts). The best solution for managing these living documents is to use a software platform that facilitates and covers the entire lifecycle of contracts and ensures it in conjunction with a defined contract management process.

 

Managing contracts online in SharePoint - DOCM the solution

Contract management means more than just managing contract documents. Contract management refers to all activities that deal with the development / design, administration, adaptation, processing and updating of all contracts of a company. 

Contract management thus includes the support of contractual negotiations between client and contractor, the implementation of contracts and the execution of contract changes for technical, scheduling, personnel or financial reasons. ( Wikipedia )

The claim of the DOCM SharePoint solution is to support the user in the respective defined contract management process, a smooth online collaboration and to ensure a targeted flow of information in the company.

 

Aus dem Content

DOCM Anwender

Managing contracts online in SharePoint - DOCM the solution

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.
Vertragsrisikoauswertung

What business risks arise in the absence of a contract management system?

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.
DOCM User

What are the benefits of using an enterprise-wide digital contract management solution for each user group?

Every company department (purchasing, controlling and legal department, etc.) needs a different view of the data of a contract and its evaluation.
Vertragswertauswertung Kunden Lieferanten

General overview of costs and revenues of the company

If you need a complete overview of the business data (costs and revenues) based on your customer and supplier relationships at a glance, you can achieve this with a mouse click. The following interactive graph enables you to quickly determine your current contractual fixed business relationships based on the contract values of the active contracts.
Anforderungen an Vertragsmanagementsystem

What are the requirements for a modern contract management system?

A modern contract management should guarantee a centralization of all company contracts for all relevant groups with regard to the completeness of the information and its evaluation. It should guarantee the confidentiality of the information related to the company parts / departments.
Vertragsstrukturierung

DOCM Contract Structuring

The contractual framework is structured in individual, framework and consortium or project contracts. Individual contracts are concluded for a specific contract object; they can be concluded for a limited or unlimited period. An outline agreement is a scheduling agreement that defines the terms of delivery between the supplier and the customer. Consortium or project contracts are concluded for the realization of larger projects, usually construction or infrastructure measures.