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Documentum: The Building Block for an Automated Contract Management Solution

What types of content workflows does your organization manage with Documentum? If one of those isn’t your organization’s contracts, you may be glad to learn that Contract Management from Flatirons Digital Innovations is available to Documentum users.

Flatirons has been a Documentum integrator for more than 15 years. During this time, we noticed that a critical content type that requires lifecycle management is contracts. We took our expertise in automated enterprise content workflows and combined it with our technical knowledge of Documentum and built an automated Contract Management solution specifically for Documentum customers.

Our customers range from utility providers and manufacturing companies to city governments, school districts, and more.

What they all have in common is the need to manage contracts through the main stages of the contract lifecycle. These stages are:

  1. Contract Definition and Creation
  2. Negotiation and Review
  3. Approval
  4. Contract Execution
  5. Closeout and Archive

What the Solution Does

Our solution provides capabilities that make contract management faster, easier, and trackable. For example, during the definition and creation phase we provide a Clause Library System (CLS). The CLS allows for management of the elements that get assembled into a final contract. These elements may be as small as a few paragraphs in a disclaimer or an indemnity section to multi-page documents detailing labor laws. An outline can be created assembling these clauses together in a specific order. Some clauses can be required, others can be optional. Some clauses can be required but the user can choose from different variations. Both clauses and outlines can be pre-approved by legal.

One of the key reasons for implementing any contract management solution is to establish a standardized process for managing contracts. Our contract management software creates a defined yet configurable workflow through which all contracts flow. Standardization on a defined workflow process allows more controls and visibility into the contract process.

As a contract moves through the process, negotiation and approval occur as a part of flows inside the application, with the system intelligently routing tasks and saving all comments, versions, and approvals.

The solution includes a dashboard that provides real-time views of contracts. The dashboard can include the status of a specific contract in its lifecycle, current active step in the defined workflow stream, and a view of the current workload.

The system also lets you produce reports to analyze current or historical data.

Details about these and other features, such as the capture of paper contracts and transformation to digital format, contract templates, and integration with ERP systems and email, are available in our white paper “Contract Management Software and Implementation Tips for Documentum Users.”

Ready to get started? Contact us.