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Leveraging SharePoint For Contract Management..

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Presentation on theme: "Leveraging SharePoint For Contract Management.."— Presentation transcript:

1 Leveraging SharePoint For Contract Management..
A Presentation by SRTEKBOX India.

2 What is Contract Management?
Contract Management can be defined as an effective administration of contracts between a company and its vendors. Proper Contract Management locks in the negotiated value of your deals while reducing Financial and Legal Risk and improving operational performance. Contract Lifecycle Management (CLM) Contract Lifecycle Management is the application of technology to standardize, streamline and automate contract initiation, creation, negotiation, execution through to contract expiration. With regulatory requirements, cost control & risk management high on executive agendas, many enterprises turn to Contract Lifecycle Management for enhanced visibility, control and performance in scope and processes associated with contracts.

3 CLM- ‘7 Fundamental Criteria’
Creation- whilst many companies work from standard contracts, they do have to be created in the first place and they often need to be changed as negotiations progress. Negotiation- of the contracts to ensure that the best possible contract is available to both parties. Adherence- to the contracts and all of its sections and aims. Service Level Agreements- SLA’s and Key Performance Indicators (KPI’s) are set to manage the day-to-day performance of the vendor. Managing Changes- that may be required as the relationship changes and problems arise. Documenting- any changes that may have been agreed upon. Analyzing- the benefits that accrue or may be available from the contract.

4 Contract Lifecycle Management Process

5 Benefits of Contract Lifecycle Management
Source: Aberdeen Group “Managing contracts is nothing new – what is new is their complexity. Fortune 1000 companies have [on average] 20,000 to 40,000 contracts. Companies spend approximately 50 basis points of their revenues to manage their contracts, which can be reduced 20-50% using contract management software Jamie Friedman, Global Equity Research

6 Figures That Matter !! *121*9#

7 Compliance Management
Figures That Matter !! CLM Capabilities Compliance Management Without CLM With CLM Source: Aberdeen Group Scale of 1 to 5

8 Competitive Assessment
The effectiveness of a CLM solution, in the end, is reflected by the level of compliance that the organizations implementing the solutions, do achieve. In a survey conducted by the Aberdeen group, the companies implementing a CLM Solution, were observed to meet their set compliance levels for their sales & procurement contracts in addition to gaining more visibility into the contract meta-data. Some common key characteristics shared by organizations implementing the CLM Solutions were: 85% -of sales orders and revenue recognition compliant with contracts. 86% -of purchasing transactions compliant with contracts. 81% -centralized management of enterprise contracts. 3.4 -times more visibility into detailed contract data.


10 Understanding SharePoint
Microsoft SharePoint is the business collaboration platform that can be leveraged for designing Enterprise and Web applications and for Data Management. Allows individuals in an organization to easily create and manage their own collaborative Web sites Seamlessly integrates with Windows and MS Office Refers to several aspects of Web-based collaborative solutions With Web-like interface, SharePoint can be used to provide intranet portals, document & file management systems, collaboration, social networks, extranets, websites, enterprise search, and business intelligence. Based on familiar tools and technologies: Web, Windows, Microsoft Office. Easy Integration with existing Line of Business Systems.

11 SharePoint: Capabilities and Benefits
Websites & Portals Internet, Intranet & Extranet Sites Collaboration On Premise, Cloud Based & Hybrid Models MS Office, Mobile , Cross Browser Integration Sites Groups Search Insights Content BI Business Applications Social Networking Program & Project Management Custom Business App. development Visual Studio Support Data Exposure through Web Services & API’s Wiki, Blogs, Communities & My Sites Profile Management and Sharing Tagging, RSS Feeds, Tag Clouds Organizational Browsers Web & Enterprise Content Enterprise Search Enterprise Data & Records Management Web Content Management Workflow & Routing, Metadata, Taxonomies Document Imaging and Sharing Enterprise Scalability, Contextual relevance Structured and Unstructured Content Search Fast Search within SharePoint, s, Folders Databases & Line Of Business (LOB) systems. Business Insight & Analysis Reports, Matrices, Dashboards & Scorecards BI Reports Web Analytics Server Based Excel Spreadsheets & Data visualization

12 Leveraging ISV components
The Microsoft partner community Microsoft creates platforms such as SharePoint which are utilized by Independent Software Vendors (ISV’s) to extend functionality on SharePoint’s Platform. Integrators like SRTEKBOX deploy, configure and bring it all together to deliver the right solutions for our clients. Value of these relationships The SI has subject matter expertise on these products and their clients business needs. Rapid deployment of solutions. Low risk on tried and true product sets. Single Technology Stack - all based on SharePoint.  

13 smartContract

14 smartContract - Overview
smartContract - an enterprise application – redefines the way enterprises deal with contracts. Leveraging SharePoint technology, the solution combines a single, scalable, enterprise-wide contract repository with a flexible workflow engine that supports an organizations unique contract process. This intuitive - browser based application makes contract management a painless job for the management, while helping companies avoid risks as well as spot hidden opportunities.

15 Why “smart” is Better? Brings every stage of contract lifecycle management under control of management Centralization and standardization of development, administration and supervision of contracts. Feature rich application which makes contracts management less painful and more meaningful Easy integration with other enterprise systems such as CRM, ERP, Intranet as well as with authoring tools like Microsoft Office. Fast deployment and reliable support. Built on robust technology. 7. Trusted by a growing tribe of high performance companies.

16 The Process Flow R Indent Submission Approval/Review workflow
Task assignment for Drafting Team Identification Workspace Creation Collaboration Approval workflow Publish to Repository Versioning R Communication Reviews Documents/Notes Tasks Tracking

17 Process Flow : Contract Management
Categorization Role Based Access Easy Search Payment Terms Definition Auto Payment Schedules Payment Tracking Payment Alerts Expiry Alerts Key Event Alerts Central Repository Analysis Reporting Communication

18 Key Features Complete monitoring and reporting Smart Creation
•Online submission of indents •Collaborative workspace for drafting of contracts •Standardization with library of clauses and templates •Rule-based contract approval regime Central Repository Anytime, anywhere access with the web based repository Comprehensive categorization of contracts according user generated as well as standard contract categories Easy to use search facility Compatibility with all major document formats – MS Word, PDF, image etc. Define access levels based on roles and groups for enhanced security Auto generate documents such as letters, notices etc. using the contract data from the system Complete monitoring and reporting •A personalized dashboard •Out-of-box reports that capture the standard information •Create custom reports with easy to use reporting tools •Auto generated AS-19 analysis for Lease contracts •Alerts and notification for key lifecycle events and tasks •Escalation of open tasks Management of Financial Obligations •Capture complex payment terms from contract as structured, actionable information •System generated payment schedules •Single source to track all payment related activities Strong Technology Backbone •Built on robust document management framework of Microsoft SharePoint •Reliable and scalable application based on MS SQL Server •Support for integrated security with active directory

19 SharePoint: The backbone
We at SRTEKBOX, have utilized SharePoint as an Application Development Platform to build scalable, extensible and reliable – multi tiered web applications. With a Business led approach, and a strict focus on integrating and developing solutions around Microsoft SharePoint environment, SRTEKBOX has designed and implemented innovative solutions that have helped our customers to improve their business processes and drive business values. SRTEKBOX leverages the benefits of SharePoint not only for smartContract, but extends it to other intuitive products as well which too are built on MS SharePoint Platform:

20 About SRTEKBOX SRTEKBOX is an India based software organization engaged in developing out-of-the-box products that aim to bring in smartness to the usual way of running business operations. Our customizable products are tactical applications which address important business needs. Our range of products, keeping all the unique statutory and regulatory requirements of the Indian industries, empower companies to respond quickly and decisively to vibrant market conditions thereby helping them achieve as well as maintain a competitive advantage. For more information, visit our website: Registered Office SR TekBox Pvt Ltd 7A/42, WEA, KAROL BAGH NEW DELHI INDIA


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