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. 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.

Typically, contracts are archived in departmental filing cabinets or disparate repositories on various business systems. Contracts are rarely actively managed and are only reviewed again when a problem arises or the contract has already expired.

Contract management software enables organizations to be proactive in the management of contracts and gain a deeper and more contextualized understanding of the risks, obligations, and benefits associated with each contract. As a result, the organizations more effectively manage business relationships with both vendors and customers.

Many contract management solutions have focussed on "buy-side" or procurement contracts, but a more holistic approach addresses the fact that contract management applies to all types of contracts, which need to be available to many groups within the enterprise to maximize their benefits, enforce standard language and terms, and enable contract transparency.

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

• Our Products

Open Text's Contract Management products are:

• Livelink ECM - Contract Lifecycle Management helps you optimize all contract processes, from creation, negotiation, and review to fulfillment and retention.

• Open Text Contract Management, SAP xApps Certified is a composite application which operates in the SAP NetWeaver® Portal and provides central storage and access to contract information, making processes easier and more efficient.