Contract management - mutually fair

Contract administration is a key component of contract management, its main task consisting of presenting structured information relevant to the contract.   

Contract optimisation in the area of procurement, however, requires the mapping of the relevant processes involved in contracting, in addition to the aspects mentioned. In general, these processes can be defined as follows:

  • structured filing of contracts
  • searching for / Selecting contracts by, say, product groups, contract duration, best contract
  • logging the responsibilities (read/write/ordering/retrieval rights)
  • purchase requisition / performance request from selected contracts
  • approval processes (such as signatures)
  • contract fulfilment (in compliance with the contractual conditions)
  • Monitoring deadlines, particularly cancellation dates and deadlines
  • Contract archiving

 In order to ensure the optimisation mentioned and hence the related efficiency in contracting at all times, responsibilities (both external and internal) and, as a matter of course, the contractual partners should also be able to be unambiguously recorded and defined using contract management (quality assurance measures as part of contract management).

Furthermore, legal and/or company law requirements relating to transparency in contracting can be complied with using an active contract management system.