Modern organizations are facing increasing pressure to reduce costs and improve financial and operational performance. Continuously changing regulatory requirements, increase in complexity of business transactions and supplier relationships makes the job of purchasing and accounting departments very difficult and time consuming. An increasing number of organizations now recognize the importance and the benefits of automating and improving contractual processes. There is a clear need to adopt more formal and structured contract management procedures and streamline routine contract administration and clerical tasks.
iGuana offers a solution for effective contract management, to help organizations reduce costs of handling documents, improve productivity and bottom line.
The iGuana iDM Contract Management Solution is designed to help organizations capture all their contractual documents (paper and electronic), securely archive them in a central repository and make them easy to retrieve by authorized members of staff. The solution makes it easy to scan, archive, locate and track contracts, purchase orders and related documents, as well as to verify provisions of each agreement.
The iGuana iDM workflow engine and e-mail notifications make it easy to control key items and expiring contracts. Your purchasing and accounting departments can obtain a unified view of all contracts, related documents and their status at any point in time and at a fraction of the typical contract handling cost.
Contract Scanning & Archiving
iGuana iDM allows organizations to scan paper contracts and related documents, index and classify them within a logical file structure within the software. Each new contract is automatically assigned a unique ID, meaning that each scanned or uploaded file, as well as its contents, always have an appropriate classification within the software and are part of a logical tree structure. Already existing and new electronic documents, such as e-mails, PDF and MS Office documents, images, and other digital documents are also automatically stored within this logical tree structure.
There is an option to add important metadata for each contract, such as contract title, supplier name, description, responsible person, department, expiry date, and other useful information. Additional documents added to the contract can also have additional index data, such as document type, date, etc.
Document Search & Retrieval
Searching for a specific contract or contract related document is simple: users enter their search criteria using the iGuana iDM powerful index search function and obtain a list of all contracts and related documents matching these criteria. All retrieved documents are presented as a logically structured list that a user can easily drill down into using the iGuana iDM browser-based user interface.
Version Control & Security
All contracts and related documents are indexed and archived in iGuana iDM in a legally compliant, revision-proof format. Each version of the document is clearly identified and no older version is ever deleted, allowing users to consult both, the most recent and older versions. Full audit trail is available to track all tasks performed by users on a particular document.
Only authorized users can access contract documentation, add documents or modify document metadata / index data. This gives you confidence that you always have a clear and full overview of what happened to each document, its current version and status.
Integration with Existing Systems
iGuana iDM can integrate with your ERP (such as SAP, Oracle PeopleSoft, Microsoft Dynamics NAV, etc.), accounting software or any other system. One of the main advantages of integration is that your staff is able to seamlessly access documents archived in iGuana iDM via the familiar interface of your existing IT applications.
Integration also allows to associate documents residing in your existing systems with contracts archived in iGuana iDM, such as related invoices, purchase orders, attachments, and other documents. This ensures that a user always has a complete view of all documentation related to a particular contract.
Notifications & Alerts
To help organizations avoid unwanted surprises, such as missing a contract expiry or renewal date, iGuana iDM automatically alerts relevant users about key dates. Notifications are sent via e-mail to authorized staff in accordance with a previously specified notification period, such as 30 or 90 days in advance. This ensures that your organization will never miss an important contract deadline.
Security & Compliance
In iGuana iDM, legal and regulatory compliance is automatically maintained, including protection of sensitive data from unauthorized access, revision-proof archiving, compliance with data retention and destruction policies and privacy rules. All documents are encrypted and detailed data access logs are provided.
Simplify your Contract Management with iGuana iDM.
Download our Solution Brochure here.