As a result of globalisation, digitalisation and compliance with contract and country-specific regulations, companies are increasingly confronted with the management of complex contract landscapes and organisations. When setting up a contract management system, they face major challenges such as integrating IT-supported governance, ensuring transparency and guaranteeing active risk management.
Due to the high complexity of holistic contract management, isolated solutions are usually created that facilitate the work of the individual company divisions, but generally have no interfaces to other company functions or IT systems. This results in risks due to a lack of transparency, quality and increased costs due to non-existent or inefficient processes.