Get full control of costs with digital contract management

Contracts create growth in your organization. They are the foundation of your organization and make it grow. That's why it's important to give your contracts a little extra care. Digital contract management makes it easy to keep track of costs, contract periods, create areas of responsibility, sort by category and have a continuous overview. Without spending time and effort on it. The opportunities to facilitate and cost-effectiveness are many. It is therefore time to try digital contract management.

What is a contract?

A contract is a legally binding agreement between two parties about their rights and obligations towards each other.

An organization has a number of different contracts. These can include bank loans, electricity, insurance, supplier contracts, employment contracts and customer contracts that are directly linked to the business. But there are usually a number of smaller contracts that are necessary for the day-to-day running of the business, such as rental agreements, leasing agreements, telephone agreements, broadband agreements and consultancy agreements.

Then there are a number of contracts that you don't even realize are contracts. Subscription services, software licensing agreements and certificates in various forms. Your organization has a lot of contracts and there are costs that can be reduced by keeping track of them.  

What is digital contract management?

Digital contract management is the place where you manage and store your contracts. At worst, contracts are scattered in binders, in most cases in the inbox of someone's computer, and at best, they are gathered in one place. Digital contract management not only provides you with a repository for your contracts, but also a tool to manage and automate your contract processes. This means you never miss a renewal, termination or renegotiation of a contract. 

The contracts are always available with digital contract management.

Digital contract management brings all your contracts together on a cloud-based platform that is always accessible. This means you never have to look for a contract again. No matter where you are, whether you're working at home or in the office, in the countryside or on the ski slopes. With the help of a flexible search function, smart filters, different contract categories and customized fields, you can always access your contracts in a clear view or go into specific ones at a detailed level.

Digital contract management automatically keeps track of contract deadlines and sends out reminders to those responsible.

Having everything in one place is a step in the right direction, but having a digital contract manager means it keeps track of times for you. It can keep track of any number of dates and times, which is one of the great benefits of digitization. Not only that, with digital contract management, you get a reminder via both SMS and email well before it's time to renegotiate, terminate or extend a contract. With smart automatic reminders, you set the time periods and how you want to be reminded. In addition, you can choose to have specific users as responsible for different contracts and then reminders are only sent to those responsible.

Digital contract management sorts and categorizes.

Not all organizations are the same, not all businesses are the same and not all contracts have the same kind of data. Smart filters and search functions are quickly becoming one of the most important tools in a digital contract manager. When you select a specific category, the fields change to adapt to the contract area. An electricity contract does not have the same data as an insurance contract or bank loan. That's why it's a great idea to put all your contracts in a digital contract manager. It makes it easy for you to find the right information, keep track of costs and contract periods, and show where the major costs are and what is included in each contract. A digital contract manager makes it easy for you to get a clear view of active and terminated contracts, which provides a good digital history and creates a structured and stable organization.

Want to know more about how the Board Portal with digital contract management can facilitate and give you full control over your costs?

Book a demo and try the Board Portal for 30 days free of charge with no strings attached.

During a demo you will: 

• Review of the platform's features.
• Answers to questions and concerns.
• Tips on how to run your board work in a smart way with the Board Portal.