There is probably nothing more fundamental to business than a contract. If finance is the lifeblood of an organisation, contracts are a connective tissue of trust and understanding that holds everything together. Yet, in many companies, it is an inflexible pain point, as contracts remain tied to outdated paper-based processes. This results in:
- Paper-based processes require a physical archive that takes up a considerable amount of space, is labour intensive and demands time and resource
- Document searches are time consuming
- It is impossible to maintain a timely and relevant overview
- Critical deadlines or contract periods can be easily overlooked
- Unintended contract extensions can result when cancellation deadlines are missed, leading to unnecessary costs and added inflexibility
- Incorrect handling can lead to penalties for non-compliance, lost opportunities, and potentially costly legal audits
Solve the challenges with digital contract management
As anyone managing hard copies of contracts will tell you, it's labour-intensive. All the challenges of manual processing are removed by digital contract management. Digitisation of contracts removes paper from the process and simplifies storage and retrieval by putting contracts into a single central database.
Yet every business is different, and the process of selecting and implementing an appropriate solution needs to be handled carefully. Konica Minolta takes a customer-centric approach towards digital contract management that takes into consideration each company’s business environment and working processes. Individually tailored contract management solutions are designed around the customer’s needs.
With Konica Minolta's digital contract management each document is scanned and automatically indexed, notifying staff members, parties and signatories. All contracts are stored in one database, so everything is in one place. Everyone knows what is happening. The benefits of this contract administration include less human error, version control and faster approvals. All the information you need will be available at the touch of a button - from text searches of the entire content of a contract to the analyses of contract conditions, contract value and parameters.