This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business Challenge
• Client was fined more than a million dollars in penalties and needed to install document and contracts management controls to resolve violations and maintain regulatory compliance
• Manual, email- and paper-based process for managing contracts made contract execution slow
• Difficult to find the current version of a contract
• No tracking as contracts moved internally and externally to vendors for review
• No automated signatures for approvals throughout the process
• Physical storage space and manual management of paper documents required staff intervention
Solution
- Deployed an automated contracts management solution based on OpenText™ Documentum™ D2
- Use a secure central repository for all contracts so that users can locate the contacts and associated documentation any time
- Integrated email routing into automated workflows for tracked reviews and approvals
Solution Details
- Web-accessible search and retrieval of contracts
- Role-based security: Controls who can author, review, edit, approve, and view documents
- Update and manage documents
- Tracks all versions of contracts along with their status (draft, approved by vendor, approved internally, acceptance and automated signature from vendor, etc.)
- Reporting: Automated tracking and versioning of emails and contract modifications / notations provide the ability to view history and track timing of when and how documents have changed
- Automated Workflows: Automated revision and approval workflows eliminate manual steps, paper, and manual signature
Results
- Reduced time from RFP to contract signature/completion
- Reduced search and retrieval time by approximately 12.5%, allowing employees to focus on other tasks and increase productivity
- Reduced human error and re-work
- Regulatory Compliance
- Quick and easy access to all current company documents facilitates audits, helps reduce liabilities, and helps reduce risk of costly violations
- Helps avoid costly shut-downs due to non-compliance
- Improved collaboration within and in-between teams
- Records Management: Reduction of duplicate copies and storage space
Learn more about the Contracts Management Solution from Flatirons.
Let's Get Started!
How can we help you? Contact us to get started.
OUR SOLUTIONS
PRIVACY
Flatirons Digital Innovations Inc. uses cookies to help spread the word about us around the internet.
CONTACT US
4175 Innovation Drive
Suite 110
Fort Colins, CO 80525
Tel: 888-310-3440
Contact Us