Application solution Contract management is an application for the preparation, online signing and archiving of contracts and supporting documents and data. The system is intended for all companies which want to archive contracts in the form of electronic documents, and enable online search and insight into data and the contracts themselves to all authorised users.
The application enables monitoring of the contract preparation process, which ensures control of the signing process and shortens the time required for contract preparation. All accompanying documents, such as signed contracts and annexes to contracts, can also be stored in the system.
Basic functionality provided by the software solution:
1. Entry of the contract and contract information
- the entry of data and contracts in electronic format (usually PDF or Word files)
- defining persons for initialling, monitoring and controlling the initialling process
- entering a new version of the contract and initiating a new signing process if necessary
- entering annexes to the contracts – the annexe to the contract is always connected to an already existing contract.
2. Contracts initialling
- list of contracts to be initialled and initialling orders are available only to users who are defined as holders of this function
- the user can initiate or refuse to initiate a specific contract
- insight into the initialling status and the possibility of sending notifications by automated e-mails in case of delay.
3. Contracts search
Contracts and annexes to contracts can be searched by contract data, by contract content or by a combination of criteria by data and by content.
Documents and users organizing
Types of documents that can be saved in the OpenText Content Manager repository:
- contract elements
- a sheet with signatures for contracts that have been manually initialled
- contract
- annexe to the contract.
The contract can always be saved in multiple versions so that the contract data is kept for each version separately.
Online initialization data is also kept separately for each version of the contract – who initials the contract draft, when the signatories are defined and who defined them when the signatories initialled the contract, who refused to initial the contract and other information.
The contract may have one or more annexes. Annexes are equal to contracts in terms of entry – the same metadata is entered as for contracts, and Word or PDF file is saved – with the difference that the contract to which the annexe refers must be selected before the entry begins.