Fulfill contracts

It is difficult to keep track of all contracts and contract-related documents at all times. In the worst case, this can result in important deadlines being missed and economic damage being caused.

The use of a modern contract management solution therefore makes sense. In addition to the central recording and audit-proof storage of all "written documents", it should offer three important functionalities.

Integration with ERP systems

The connection to ERP systems is crucial. Since many companies use SAP systems, the contracts and documents related to the operations in the SAP system should also be managed in it.

The complete, interface-free integration enables fast and easy access to all relevant data. Thanks to the deep process integration, such contract management can be linked, for example, to the standard SAP modules for financial accounting, controlling, sales and purchasing, etc., and can be called up from any SAP function.

Contracts and documents are thus not only managed on their own, but are also transparently mapped in the context of transactions, contracts, costs, and bookings.

Search options

Various search options via full text search are convenient in a contract management system. This should also work within documents and contracts in a similar way to well-known search engines.

An integration of email and SAP application also gives users the ability to search for information in contract management without leaving the email program.

Deadline / time limit control

Deadline and deadline control reminds responsible employees of ending contract terms or upcoming contract-related tasks via e-mail notification.

Follow-up processing such as the renegotiation of expiring contracts is also triggered automatically. In this way, the company exploits potential cost benefits by, for example, terminating expensive service contracts in good time.

Looking Ahead

Circle Unlimited offers a feature-rich, modern contract management with its solution cuContract. The new version 8.2. with numerous functionalities will be released at the DSAG annual congress in Nuremberg. It also supports with regard to the International Financial Reporting Standard 15 (Revenue from Contracts with Customers) and IFRS 16 (Leases).

The new regulations, which will take effect in 2018 or 2019 at the latest, mean new requirements for companies in terms of costing and accounting systems. All existing leases must be reviewed or reassessed and undocumented data must be recorded for accounting purposes.

The adaptation of existing processes is therefore unavoidable. The basis for this is a well-organized contract management system. Ideally, it forms the interface between sales (lessor) and purchasing (lessee).