Audit-proof and performant – integrated into SAP and Microsoft
Contract Management under control
Secure contract management is commonly regarded as a solid foundation for the success of a company’s business activities. Nearly all departments – from purchasing and sales to controlling and executive management – benefit from it.
Performant and reliable contract management software such as cuContract minimizes risks such as missed deadlines, budget overruns, excessive turnaround times and insufficient authorization and processing procedures, thereby laying the foundation for business success.
The contract management software cuContract enhances efficiency and the ability to plan and manage the entire company and lets risks and financial decisions be controlled to an extent that was barely possible before. All in all, this engenders enormous saving potential.
Product sheet: Contract Management in SAP with cuContract
Success Story: BSH uses Contract Management in SAP company-wide
Success Story: Pharmaceutical Specialist Engelhard relies on Contract Management Software
Content
- 01 Highlights of cuContact
- 02 Active contract management
- 03 No more missed appointments or deadlines
- 04 Transparency and full control
- 05 Electronic contract file & automated document creation
- 06 100% integration of Microsoft applications
- 07 Digital signatures
- 08 Guaranteed GDPR-compliant
- 09 SAP ERP and S/4HANA integration
- 10 Project plan for the implementation of cuContract
- 11 FAQ about digital contract management
- 12 Your contact for questions about contract management
cuContract at a glance
- Holistic management of contract files, contract data and documents
- Automated appointment and deadline management
- GDPR-compliant
- Document drag & drop function
- Integrated follow-up feature and automated e-mail reminders
- Task management and workflows
- 100% MS Office and MS SharePoint integrated
- SAP ERP- and S/4HANA-enabled
- Use of a DMS and optical archive via ArchiveLink
- Workplace scanning with OCR text recognition
- Importing of e-mails, including attachments, and integration of the contents from SAP systems into/from MS Outlook
- Digital signatures
- cuDocument Builder for the automatic creation of standard correspondence and contracts
- Logical linking of related contracts; automatic matching and generation of bookings and invoices to/for contracts
- Matching of any other SAP business objects to contracts
- Risk management, business-partner and supplier evaluation, pre- and re-qualification
- Invoice inspection and booking in a single operation with allocation to the relevant cost centers, projects etc.
- Available in many other languages besides English (default) and German
- Barrier-free
Claudia Bock
Project Leader, BSH Hausgeräte GmbH
”A special added value that the cuContract solution offers BSH is also its integrated digital signature feature that enables us to further expedite our sales processes.“
Active contract management
The contract management software cuContract lets employees manage every type of agreement, including all the associated documentation, in an audit-proof manner. The software covers every phase of the contractual lifecycle – from inquiry, tender, offer and contractual conclusion to controlling, termination and orderly destruction.
Analytic options, including spend analytics, determine contractual commitments and payment obligations for any future time period. The impact of targeted contract terminations on e.g. the liquidity plan and annual financial statement can be easily simulated and enable improved decision making.
No more missed appointments or deadlines
The integrated Event Agent notes appointments and deadlines, informs the responsible employee by e-mail and can automatically initiate downstream processing if necessary.
Transparency and full control
The central, structured storage of all contracts and related information means that every employee works with the latest data throughout the company. This improves transparency and also eliminates time-consuming requests for documents from e.g. other departments or branches.
Use of the contract management software cuContract allows executives, managing directors and decision makers to ensure that their contract management complies with the requirements of national and international legislations such as KonTraG, BilMoG, Sarbanes-Oxley Act, IFRS and GDPR. cuContract not only documents and archives everything in an audit-proof manner, but also includes comprehensive risk management features for identifying and minimizing risks early on.
Electronic contract file & automated document creation
In the integrated electronic contract file, employees can not only store documents using drag & drop, and search them using full text search; the file also offers comprehensive additional features that support contract management, contract controlling and contract administration: Version control and version comparison, for example, allow a document’s development and changes to be tracked at a glance, even years later.
Documents can be generated quickly and easily in cuDocument Builder, even allowing clerks without a legal background to create contract documents and other documents automatically in MS Office. In doing so, placeholders are set manually, or automatically if they have already been defined in the SAP system. The cuDocument Builder thus minimizes errors and significantly cuts working time.
100% integration of Microsoft applications
Microsoft applications and the cuContract contract management system complement each other perfectly, letting you store documents and information from MS Office applications directly in the electronic file at the push of a button. You can also import any e-mail, including all its attachments and formatting, from MS Outlook into the file with a single click, as well as send e-mails from the file itself.
Digital signatures
Electronic signatures save a great deal of time and effort when signing contracts and documents. cuSmarText HR gives your employees access to proven technologies such as the DocuSign solution that is available for the web, as a mobile version and offline. It lets you create, manage, sign and archive contracts and contractually relevant documents in a legally secure manner within the SAP contract management system cuContract. Alternatively, signotec pen pads and tablet PCs can also be used for signing documents. All variants are fully integrated into the cuSolutions.
Guaranteed GDPR-compliant
cuContract’s fine-grain access and authorization functionality ensures that employees work in compliance with GDPR. Rights, viewing and data accesses are strictly regulated according to roles and company divisions and only those data which are absolutely necessary are retained. Upon expiry of the data retention period, the system deletes the relevant personal documents and data records based on rules, either semi-automatically after verification by the authorized employee or fully automatically.
SAP ERP and S/4HANA integration
The contract management system cuContract, which is available in two integrated variants – for SAP ERP and SAP S/4HANA – integrates seamlessly and conveniently. The software ist certified with “SAP Certified – Integration with RISE with SAP S/4HANA Cloud“. The contract management solution can be implemented both within a legacy SAP environment as well as in the form of a stand-alone contract server that creates references to other SAP system installations.
Product sheet: Contract Management in SAP with cuContract
The contract management system cuContract manages all types of contracts such as supplier, personnel, leasing, participation contracts, etc. incl. all related information during the entire life cycle in an audit-proof…
Project plan for the implementation of cuContract
The implementation of the contract management software cuContract follows clearly defined and customized project steps.
During a first kickoff meeting with valantic experts the project gets structured. This is followed by installation and setup of the standard software. In workshops the individual needs of the users are identified and described in a written concept, followed by an individual customizing by valantic. Key users are trained and introduced to all functions of the software, even before the contract management goes live.
Our experts will be available at all time for technical support or questions and can also make adjustments and extensions if the users’ needs change.
FAQ about digital contract management
Contract management encompasses all activities and processes required to effectively manage contracts during their entire life cycle. This includes the creation, negotiation, monitoring, modification and termination of contracts. The purpose of contract management is to ensure that contractual obligations are fulfilled and the associated risks are minimized.
Contract management includes several phases:
- Contract request: Identification of requirements and initiation of the contract process.
- Draft contract: Preparation and review of the contract document.
- Negotiation: Negotiating the terms of the contract between the parties.
- Approval: Formal release and signing of the contract.
- Execution: Monitoring the fulfillment of the contract and compliance with the conditions.
- Extension/amendment: Managing contract extensions and modifications.
- Termination: Ordinary termination and archiving of the contract.
- Minimize risks: Through careful review and management of contract terms .
- Ensure compliance: Meet legal and regulatory requirements.
- Improve relationships: Promotes clear communication and expectations between contracting parties.
- Reduce costs: Avoids contractual penalties and optimizes expenses.
- Increase efficiency: Through automation and standardization of processes.
- Simplifies access: Enables quick and easy access to contracts.
- Increase security: Keeps contracts secure and organized.
- Provides transparency: Clarity about the status and conditions of contracts.
- Improves traceability: Tracks the history of and changes to contracts.
Challenges in contract management include:
- Complexity of contracts: Difficult and extensive contract terms.
- Manual processes: Time consuming and error prone manual administration.
- Communication problems: Lack of coordination between contracting parties.
- Compliance risks: Difficulties in complying with legal requirements.
- Contract tracking: Challenging to track contract deadlines and terms.
There are various tools and technologies that support contract management:
- Contract management software: specialized applications for managing the entire contract lifecycle.
- Document management systems (DMS): Systems for storing and managing contract documents.
- Electronic signatures: Enable contracts to be signed quickly and in a legally binding manner.
- Artificial intelligence (AI): Automated analysis and verification of contract content.
- Cloud solutions: Enable access and collaboration from anywhere.
The efficiency of contract management can be improved by:
- Automation: using contract management software to automate routine tasks.
- Standardization: Creating standard templates and processes.
- Training: Regular training for employees in contract management.
- Monitoring and reminders: Tracking and reminders of contract deadlines and conditions.
- Collaboration: Promote better communication and collaboration between departments, as well as clear assignments of work steps and individual access rights
The following legal aspects must be taken into account in contract management:
- Contract law: Compliance with the relevant legal provisions and regulations.
- Data protection: Protection of personal data in accordance with data protection laws (e.g. GDPR).
- Compliance: Fulfilling regulatory requirements and internal guidelines
- Confidentiality: Ensuring the confidentiality of contractual content.
- Verifiability: Documentation of all contractual agreements and modifications.
- Access authorizations: Assignment of individual access rights when editing and viewing documents.
Extract from our reference
- SAP
- valantic
BSH is using Contract Management in SAP company-wide
- SAP
- valantic
Pharmaceutical specialist Engelhard relies on contract management software
