As part of the new restructuration and organization of the contract management processes at the Hirschmann Group, the electronic document management, documentation and mapping of the contract management processes will also be reorganized.
The Hirschmann Group has therefore commissioned Symfact to configure the Symfact platform so that the Hirschmann Group can manage their contracts and other supporting documents easily, efficiently and seamlessly and store and organize them in a single repository.
The configuration includes functionality to improve overall operational efficiency for the creation, review, negotiation, approval, monitoring, reporting, compliance and enforcement of business contracts, thereby relieving contract management.
The target group for the Symfact application are executives and employees from all companies of the Hirschmann Group who usually know the usual IT products and work with them. Therefore, the application will be user-friendly, and the use will be easy and quick to learn. Due to the international orientation of the Hirschmann Group, the entire application is held in English.
The contract review process is a lengthy process with several parties involved. Therefore, the Hirschmann Group needed the system to provide a strong authoring tool that allowed users to leverage their knowledge of Microsoft Word, and also have a complete history of changes by all parties through the process. The ability to work on the contract in MS Word via a Check-Out/Check-In process was an absolute requirement.
As the contract worked its way through the assembly and authoring process there was the obvious need to formalize and deliver a robust workflow process. Using Symfact’s business-rule driven workflow engine, the contracts are efficiently routed to only those who needed to contribute to the review and approval process.
- Centralized control and storage of all contract document
- Formalized contract negotiations, both internal and external, and retention of the version history
- Management of documents and e-mail communications relating to the contractual relationship pre- and post-execution
- Ability to create and manage contract(s) with a “Family” view that shows all related contracts, amendments, SOW and sub-contracts
- Automated task and workflow assignments, pre- and post-execution
- Accelerate and simplify internal contract review and commenting processes
- Appropriate levels of control over access rights to records, data, and documents
- Full audit control over all activities performed by users and the records that they accessed
- A single electronic repository for contract records
- Ability to import and synchronize data from other Hirschmann Group’s master software like SAP, AD.
- Improved reporting capabilities regarding contracts in various stages of completion
- Ability to share work across various contract divisions
- Management of complex family of contracts (SOW, Amendments, subcontracts) with multi levels