Contracts underpin almost every relationship in business - from customers, suppliers and partners to employees. They are a basis of trust and understanding. Yet, contract management is often overlooked in digitalisation processes, leaving businesses in the dark and exposed to the risks inherent in manual processes. Contracts are not easy to manage in the traditional, paper-based way. Archiving takes up office space, data input and searches are time-consuming, while missed deadlines can lead to penalties for non-compliance. Konica Minolta is helping its customers bring their contract management processes into a new era with its digital solutions. The digital contract management solutions help organisations administer all corporate contract documents in a simpler way with increased workflow efficiency.
There is probably nothing more fundamental to business than a contract. If finance is the lifeblood of an organisation, contracts are a connective tissue of trust and understanding that holds everything together. Yet, in many companies, it is an inflexible pain point, as contracts remain tied to outdated paper-based processes. This results in:
As anyone managing hard copies of contracts will tell you, it's labour-intensive. All the challenges of manual processing are removed by digital contract management. Digitisation of contracts removes paper from the process and simplifies storage and retrieval by putting contracts into a single central database.
Yet every business is different, and the process of selecting and implementing an appropriate solution needs to be handled carefully. Konica Minolta takes a customer-centric approach towards digital contract management that takes into consideration each company’s business environment and working processes. Individually tailored contract management solutions are designed around the customer’s needs.
With Konica Minolta's digital contract management each document is scanned and automatically indexed, notifying staff members, parties and signatories. All contracts are stored in one database, so everything is in one place. Everyone knows what is happening. The benefits of this contract administration include less human error, version control and faster approvals. All the information you need will be available at the touch of a button - from text searches of the entire content of a contract to the analyses of contract conditions, contract value and parameters.
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Explore the countless different ways in which Konica Minolta software products could improve your operations. Konica Minolta solves the problems of your company, matches different working styles, and offers software solutions meeting the needs of your industry. By prioritising your needs at all times, Konica Minolta meets the software requirements of even the most demanding global organisations. Using the system, you can keep a lid on the cost of any printed or copied output, create advanced security measures to ensure sensitive documents don’t fall into unauthorised hands, and more.
Our experienced, knowledgeable specialist staff will answer any questions you may have, and show you how to operate your product. Our services function for your benefit, within a support system designed to ensure you and your company benefit fully from the solutions. We offer a range of different services, including optimised print services to combine your consulting; hardware and software implementation; workflow management to lower your document spending; and smart security services, to keep your business safe.
With Konica Minolta solutions for contract management we are helping you break free and regain control over their documents and contracts. This not only helps speed up processes, save money and relieve employees, but it also helps to improve the relationships with other company stakeholders. The system standardises and automates all the phases of contract management, from contract requests to authoring and execution workflows using electronic signatures (like DocuSign).
It cuts the risk of legal or audit costs and helps financial control. The system sends notifications in which any deadlines, approvals, changes or cancellations are flagged up, and your management teams can make the best use of all contract advantages.
It supports compliance and data protection through authorisation and personal access rights - a level of security which far exceeds conventional paper archive.
Full regulatory compliance
Keeps track of all documents related to each contract (like emails, protocols, and other KPIs etc.)
Cost savings from fast searches and optimal use of contract advantages
More transparency due to central contract administration
Maximum data protection with revision-safe archiving and approval processes
No missed deadlines thanks to automatic reminders
Perfect integration into existing CRM/ERP systems
MVB Truck & Bus Bulgaria AD is an official importer of the products of MAN Truck & Bus for the Bulgarian market. The company structure includes 4 departments - the department for the sale of freight cars and buses, service department, spare parts department and accounting-administrative department.
At the beginning of the activity, in 2012 the team of MVB Truck and Bus Bulgaria AD started to classify and archive contracts entered into folders. In parallel, electronic copies of the documents that are stored are also created in a file server, and basic data and information about them is stored in Excel files. With an increase in volume of the archived documents and because the process of creating the electronic archive and indexing the contracts is done manually, problems have begun - missed documents, incorrectly entered data, and more. So the company realizes the need for optimization and archiving the document environment.
The document process has been optimized in two directions. On one hand, the existing paper documents had to be made in
digital form. While scanning specific indexations of areas in the document are made, such as contract number and the type ofcontract. After the relevant contract is digitized, certain employees, depending on their positions previously set in the software, are notified that such a contract has been entered in the system. Finally, the document is being archived in the proposed system.
The second contract entry process is related to contracts that are due to be set up. In this case the contract is created in the system on a basis of pre-approved template. After that the contract is automatically redirected to those who need to approve it electronically, returned to its creator for signature, scanned and archived. "At each step each one of the people involved in the process know what is happening with the document, and the way the contract is moving in the system is set in the software and predefined", explains Svetoslav Krastev.
At a later stage, MVP Truck and Bus Bulgaria have extended the implemented in solution with the introduction of a management module for holidays, and then a module for business trips. Instead of submitting requests for leaves on paper, the employee is already able to make their leave via the system and the application to be moved automatically to the accounting.
Return on investment in a solution is often expressed not only in money, but also in achieving high customer satisfaction
Senior Financial Director, MVB Truck & Bus Bulgaria AD
When MVB Truck & Bus Bulgaria AD from Sofia, Bulgaria, began to grow there was a lot of time wasted for finding where particular contracts were stored. So, they introduced the archiving system dokoni CASE from Konica Minolta for contracts and quotations. dokoni CASE helps MVB to find documents quickly and efficiently.
If you would like to chat to one of our experts about the benefits of using Konica Minolta to put together the Contract Management solution that’s right for your company, just click below to Contact Us.
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