Symfact offers the following solutions to its enterprise customers, available on a unique, single technology platform. Contract Management and Compliance requirements increasingly intersect and enterprise customers often begin with a narrow set of requirements but then continue to find value in an increasingly broad range of functionality. Symfact solutions can be characterized as follows:
With the Symfact Enterprise Compliance Platform, customers can effectively create and manage all contracts, including procurement contracts with suppliers for working materials, assets, leases, outsourcing, employment contracts, or licensing of IP. Symfact allows procurement personnel visibility into supplier terms, in order to ensure all commitments are proactively met and agreed discounts optimized.
With the Symfact Enterprise Compliance Platform, customers are able to manage sell-side contracts to ensure that the company closes the deal rapidly and meets and even exceeds its commitments to deliver products and services to customers with associated schedules, incentives, and penalties. Managers can track compliance to all commitments made by the company, including schedules, payments and deliverables. Each department with a role in the commitment has visibility into the overall compliance requirements and the steps required to fulfill the obligations. In addition, elaborate pricing tables can be created and integrated with billing systems.
At the highest level, executives must manage strategic relationships between companies, including commitments, deliverables and expectations. Operationally these agreements include detailed daily transactions. The Symfact Enterprise Compliance Platform offers enterprise customers visibility into agreements with the key parties with resulting material commercial impacts on company performance.
In all outsourcing partnerships, both vendors and customers need to ensure that obligations and expectations for all deliverables and services are met. This is much more than simply tracking service level agreements (SLAs) and key performance indicators (KPIs). Relationships of contractual terms to RFPs and RFP responses need to be defined and tracked to maximize revenue and insure compliance. With the Symfact Enterprise Compliance Platform, precise processes and assignments across operating units are defined, implemented and managed in order to guarantee mutually rewarding cooperation between all parties.
Large Complex Agreement
Proactively recognizing and evaluating the events and exposures within a large complex agreement is vital to success. Establishing a company specific supervision and control system is made possible today by Symfact. The Symfact Enterprise Compliance Platform ensures information flow and effective risk management for a company's shareholders, board of directors and senior management (including Corporate Governance and Sarbanes-Oxley requirements).
Emerging international accounting standards, such as IAS 17, are requiring ever increasing visibility into the financial management of leases. For both lessees and lessors, the appropriate accounting and disclosure policies need to be adhered to. This requirement for visibility and risk mitigation applies equally to both financial leases and operating leases. The Symfact Enterprise Compliance Platform supports all contracts, from simple leases to complex multi-year arrangements for large capital commitments like aircraft, vehicles, and other assets.
As inter corporate co-operations become ever closer and complex, there is an increasing occurrence of large, extremely sophisticated and binding contractual documents. These extensive agreements include many obligations and commitments. With the Symfact Enterprise Compliance Platform, all involved parties have visibility and are thus able to manage proactively against contractual content held at the data, clause, paragraph and section levels. All associated documents are also securely held and presented as required to any concerned party.
Governance, Risk, and Compliance
The Symfact Enterprise Compliance Platform provides executive management with the ability to oversee corporate governance, including financial reporting and auditing, according to the rules, regulations, standards, and policies under which the corporation operates. Symfact also supports executive decision-makers in documenting, assessing, analyzing, and mitigating or remediating business risks. In each operations area professionals can visualize and quantify risks and compare relative risk and reward between areas using the tolerances associated with policies and decisions at the enterprise. Risks include market risk, supplier risk, technology failures, security, environmental risk, and often include integration with external data sources. Finally, Symfact offers the enterprise the ability to ensure compliance to, for example, Sarbanes-Oxley requirements as well as regulations for specific industries, and standards established internally within the company.
The Symfact Enterprise Compliance Platform enables top-level executives to manage a corporation’s many legal entities each with complex financial structures that cross geographies, business units, and regulatory/legal boundaries. Symfact offers visibility and analysis into strategic and operational issues within each distinct entity, as well as common metrics/analytics for comparison between entities. Management of legal entities across a corporate structure requires not only an ”as is” picture but also an ”as was” visibility to show structures and relationships in place at any point in history.
Increasingly the modern enterprise is confronted with policy, codes of conduct, ethics compliance, whistle blowing and antifraud guidelines. A recent example would be the United Kingdom Anti Bribery Act 2011. All of these domains have policy documents which require analysis, presentation, and compliance by the impacted parties. As a component of the information infrastructure, the Symfact Enterprise Compliance Platform is a powerful enabler to provide visibility and means of data input and collection.
Some organizations may choose to combine risk management together with internal audit activities while others keep them separate. Linking them may enable a focus on areas of highest risk. The Symfact Enterprise Compliance Platform supports either approach, by streamlining processes and empowering and involving all active participants. This ensures that employees jointly engage in the audit which potentially may otherwise be seen as threatening or intrusive.
Laws and Regulations
The Symfact Enterprise Compliance Platform provides executive management with the ability to manage workflow and policies to support regulatory changes with impacts on risk, controls, and business performance. When presented with updates and alerts as regulations, laws, and standards change, the manager is able to modify internal controls and policies on a realtime basis and insure the company is adhering to statutes based on the products and services they are providing. Failure to do this can result in severe financial penalties including fines, executive prosecutions and exclusion from future work.