Operations / IT
Increasing regulations and the fact that they are becoming ever more complex both nationally and internationally continue to present companies with new challenges. It is increasingly important to implement and apply a Compliance Management System that can effectively and efficiently cope with these challenges. Compliance must be identified as a strategic issue for the comprehensive governance of a company.
Symfact helps to implement Governance, Risk Management and Compliance (GRC) within your company. External and internal guidelines and contracts form the basis of compliance as an unshakeable core of any company activity. The Symfact platform makes it possible to efficiently control risk, opportunities, procedures and controls within an enterprise both at the management and operational levels. Symfact solutions may also involve external parties, such as for example service providers or third parties, and thus make it possible to control the company as a whole without being overly complex or costly.
Contract Management Impacts Your Organisation
Who ensures that deadlines are observed, agreed services are monitored and executed, or that contracts are terminated or re-negotiated before tacit renewal? Who makes sure that guarantees are honoured, copyrights and rights of use are safeguarded, employment contracts are adapted, lease agreements are extended, and that insurance claims are made? Where are the contracts filed? Is the interdivisional information from contracts between providers and recipients of services protected? Does anybody really know who is under obligation and who has rights? These and multiple other questions need accurate responses.
A Single, Central Contract Administration Repository
Symfact Contract Management is centrally organised but can be retrieved via any Internet browser by all those with access authorisation according to their role. The system is designed to provide total visibility and transparency. All electronically archived contracts, appendices such as quotes, price lists, e-mails, memos, schedules etc. and metadata can be located and retrieved quickly and reliably in their latest / active version.
Complete Contract Lifecycle Management – A Competitive Advantage
According to industry analysts the great majority of companies are not heading in a positive direction in terms of contract and agreement management. Not a single week passes without contract-based projects making the headlines for all the wrong reasons. Furthermore, the effects of unsatisfactory agreement management are not only limited to large-scale projects.
The commercial significance of efficient contract management applies to companies of all size and can provide potential savings up to 70 % in risk management and up to 90 % in cost reductions (study made by Pricewaterhouse Coopers). Many companies confirm that contracts can be determining in the absolute success or failure of a business.
Part of a Complete Enterprise Compliance Management Solution
No matter what role you hold in the company, the Symfact Contract and Compliance Management Platform allows you to make decisions today with confidence, answer questions tomorrow with authority and build contracts and maintain compliance as standard practice.