Contract Management

Standardize and secure contract policies and processes with a holistic approach

Your Challenge

Legally binding contracts and agreements underpin almost every business transaction, touching virtually every area of the enterprise, defining relationships with partners, suppliers, customers, and even employees. Contracts should protect a business from risk (operational and regulatory), lock in favorable pricing and payment terms with suppliers and customers, define acceptable service levels, and provide enforceable remedies when those terms are breached. These contracts contain clauses, terms, conditions, commitments, and milestones that need to be tracked and managed throughout the entire contract lifecycle to maximize business benefits and minimize associated costs or risks.

Because of the eminent nature of contracts, organizations need a software solution that enables them to be proactive in managing and gaining a deeper and more contextualized understanding of the risks, obligations, and benefits associated with each agreement. As a result, the organizations more effectively manage business relationships with both vendors and customers.

A more holistic solution for contract management, that goes beyond "buy-side" or procurement contracts to include all types of contracts, provides many groups within the enterprise to maximize their benefits, enforce standard language and terms, and enable contract transparency.

OpenText Contract Management Solutions deliver full lifecycle management of contracts, from creation, negotiation, and review to fulfillment and retention.

Our Products

The OpenText Contract Management products are:

• OpenText Contract Management: Tracks and manages each contract’s clauses, terms, conditions, commitments, and milestones throughout its lifecycle to maximize contract benefits and minimize risks.