Customer
The world is rich in natural beauty, cultural diversity but also one where many are still deprived of their basic rights. Symfact’s customer, a global organization, has the mission to reach out and touch the world using football as a symbol of hope and integration. Only with the unwavering dedication of every team member of this worldwide organization, every member association, and every business partner, can football in all its forms contribute to achieving goals at a high level by protecting standards, encouraging competition and promoting solidarity in the game. Played by millions around the world football is in the heart and soul of our customer and as the guardian of this most cherished game has a great responsibility. This responsibility does not end with organizing global events and various other competitions; it extends to safeguarding the Laws of the Game, developing the game around the world and bringing hope to those less privileged. This is the very essence of fair play and solidarity. Our customer’s mission is to contribute towards building a better future for the world by using the power and popularity of football. This mission gives meaning and direction to each and every activity that the customer is involved in. Football is a core and integrated element of our society.
Business Challenge
Previously management of contracts was based on an outdated and homemade solution requiring expensive change and modification processes. After an evaluation of all major vendors in the contract management space, the customer selected Symfact based on our ability to precisely deliver the actual functionality required and have the ability to convert the existing 5’000+ agreements (metadata as well as documents) in a timely manner. The customer now controls all ‘sell’ and ‘buy’ side contracts including all ‘other’ agreements fulfilling the high standards for accuracy, cost-effectiveness and compliance for all highly sensitive contracts.
Solution
Working with Symfact the customer has now implemented its contract management and reporting functionalities for sports and events agreements over the complete lifecycle. The solution supports the worldwide management of three different templates “Income”, “Costs” and “Other” agreements. Each single contract type can be managed on its own with functional highlights as follows:
- Metadata and all document types
- Clause level obligation control
- Customer classifications and identifications
- Email notifications triggered by dates and events
- User definable code attributions
- Proof of changes and audit trail of all activities
- Full-text search in both documents and metadata
- Links across multiple objects
- Mapping of contract or customer specific elements or objects
Benefits
Working with Symfact the customer has improved its efficiency and contract visibility of the management of large complex agreements:
- Globally standardized review processes for all relevant obligations
- Post-execution review process for terms and conditions
- Automated or individually set alerts for review of clauses
- Automated tracking of non-compliant or overdue obligations
- Decreasing the costs of monitoring and reviewing contractual definitions
- Improved monitoring accuracy for obligations
- Tracking, scoring and triggering by obligation (clause)Reduction in organization-wide risks and exposure