The Symfact solution to Contract Management is a comprehensive software package that delivers everything required for keeping control of your contract documentation and processes. It is an intuitive product that incorporates the latest, cutting edge technology and is designed to help your business transform a collection of contracts into a vital and productive resource for financial success.
This shift in perspective – from seeing your business contracts as an administrative task, to seeing them as a valuable pool of data – brings renewed vigour to your business practices, along with the momentum created by the achievable goal of a scalable and secure future. For those businesses that are struggling to get to grips with a digital Contract Management solution, Symfact can streamline and simplify your processes to deliver significant gains. For those that have yet to embrace the digital approach to contracting in any form, Symfact Contract Management Software can revolutionize the performance of your organisation – both now, and in the future.
Symfact Contract Management Software is built in such a way that it can be tailored to the specific needs of your organization. The technology provides for a high level of customization, which makes the installation and implementation process straightforward, and the ongoing use of the software simple. There are eight key features of the software that support all businesses, however. These features incorporate that customization facility, but combine to create a software platform that encompasses the entire contract lifecycle – from the initiation and creation of new agreements, to the termination and archiving of those agreements that are no longer required.
- A browser-based design
Symfact Contract Management Software uses Cloud-based technology, and a browser-based design.
- Access and accountability - The browser-based design uses permission-based access, which means that only authorized personnel can use it, and that all user actions are tracked and documented as an automated audit trail. These stringent security features ensure that privacy and confidentiality are protected, while full accountability and transparency is maintained.
- Efficiency and business continuity – The browser-based design enables any authorized user to securely access the platform from any web-enabled device in any internet-connected location. This means that personnel can initiate contract documentation and amendments while on client site or travelling between working locations, and also provides business continuity in the event of disrupted access to the business’ own premises.
- A centralized repository
A core element of the Symfact Contract Management Software platform is a centralized repository for all contract documentation. The platform is built around this core element for the simple reason that, in order to manage a contract collection effectively, it must be stored in a single location. The benefits of this are two-fold:
- The time required to first find a particular agreement or set of agreements is immediately eliminated - improving efficiency and freeing up time and resources to be used elsewhere.
- By centralising the contract collection of your business, a greater level of detail can be achieved in data analysis. Duplication of effort and documents can be removed, and relationships between terms, conditions, obligations, amendments, and third parties can be identified that would otherwise be lost amid poor or inadequate management.
- Editable templates
With the centralized repository comes the provision of editable templates. These can be stored in a template library within the central storage location, which means that authorized personnel can access the management-approved language they need in order to initiate or amend contracts quickly, efficiently, and even remotely, if necessary. With a Microsoft Word extension included in the software package, contracts can be quickly created and edited through the browser-based platform. As well as increasing efficiency in the contracting process, the editable templates feature also enables standardization of contract and amendment language, which is an effective and important step in any corporate policy of risk mitigation.
- Seamless integration
The cross-platform XML architecture of the Symfact Contract Management Software allows for seamless integration with a range of existing systems. This feature is further supported by a Drag and Drop Interface that enables users to move documents from a PC directly into the Symfact platform. The impact of this feature is to simplify and accelerate the process of legacy data migration, as well as ensuring that current project documentation can be made available within the system.
- Encrypted data transfer
Symfact Contract Management Software protects all data with encrypted data transfer. This is a tool widely used in software development and the online arena and is intended to keep communication and information completely secure during transfer between a client or server, or over a network; from one device to another, across the internet, and through both wired and wireless connections. By incorporating this tool as a key feature of its browser-based design, the security of Symfact Contract Management Software effectively covers all bases and every eventuality, with end-to-end data protection.
- A multi-language, currency and territory facility
In the global marketplace of today, scalability is essential for any business to succeed. Symfact Contract Management Software supports scalability with a multi-language, multi-currency, and multi-territory function. Once Symfact is installed and implemented, your business can scale its operations in ways that are tailored to overseas markets quickly and easily, creating and amending contracts as necessary, and with optimal efficiency. Furthermore, when combined with powerful data analysis tools and features, the Symfact platform can deliver performance monitoring at all levels of granularity, allowing for a pro-active approach to business expansion.
- Automated workflows
The cutting-edge technology of Symfact Contract Management Software brings with it a high degree of automation. This is essential for forward-thinking businesses, because automation is a fast and effective way of achieving increased efficiency throughout the organizational structure. Efficiency enhances productivity which, in turn, increases profitability, so automation is a desirable feature in any software solution designed for commercial enterprise. Symfact automates the basic administrative processes so that your valuable resources can be deployed in a more efficient way. This includes, most significantly, the provision of automated workflows.
The automation of Contract Management workflows means that the software alerts the right person to the right task at the right time. A comprehensive system of notifications and alerts ensures that every milestone is addressed in a timely fashion, and no opportunity is missed. Whether it is re-negotiation or the early resolution of potential contractual dispute, the automated workflow feature of Symfact is a vital part of keeping control of the contractual processes of your business.
- Customized reporting
The customized reporting feature of Symfact Contract Management Software is the tool that really transforms your data into a resource. Centralizing your contract collection allows for standardization of language and the use of editable templates, thereby increasing efficiency and mitigating risk, but it is the reporting function that takes the content of that contract collection and turns it into actionable data. By applying targeted data analysis, focused on the areas that specifically relate to your business and its forward-thinking plan, Symfact unlocks the real value of your contract content.
With the precise and consistent use of metadata and data tags, customized reports can provide actionable data on contract performance, third party due diligence, and unexplored business opportunities. This tailored and granular scrutiny of your contract data ensures that your business decisions are taken from a fully informed perspective, supporting the future-proofing of your organization and its business relationships.
The Symfact advantage
Symfact Contract Management Software provides your business with an unparalleled advantage by putting you in control of both your cumulative contract data and the way in which it is utilized. With this approach, these twin areas of contract handling deliver twin gains of enhanced efficiency and boosted revenue. By enhancing efficiency, your business not only develops its scalability, but it also further mitigates risk in contractual obligations and third party relationships. Boosted revenue secures the current financial position of your business, and also helps to future-proof the organization – providing some insulation against market fluctuations.
These overall improvements in performance are further strengthened by the reduction in carbon emissions that Symfact provides. With your entire contract collection digitized and stored in a central location, the carbon footprint of your business is drastically decreased. Your organisation will use less paper and will require less physical storage space. Your teams will use less fuel through having the ability to access contract documentation remotely, and the reduction in resource consumption lessens pressure on the carbon-producing supply chain. The minimization of the carbon emissions of your business then boosts profitability further by lowering associated costs.
The advantages provided by Symfact Contract Management Software represent a significant return on investment – not only in the short term, with increases in efficiency and data analysis capabilities, but in the long term, too. The implementation of the Symfact platform allows your business to plan for the future in realistic, scalable, and achievable terms from a fully informed, data-driven perspective. Contact Symfact today to arrange your free software demonstration and find out more about the advantages this Contract Management Software could provide to your business.