Contract Life Cycle Management - Digitalised Contract Management

As a result of globalisation, digitalisation and compliance with contract and country-specific regulations, business entities are increasingly confronted with the management of complex contract landscapes and organisations. When setting up contract management, 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 usually do not have any 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.

• Lack of transparency of contractual relationships
• Unpredictability of legal risks and consequences
• Non-compliance with regulatory requirements
• High error susceptibility due to a lack of contractual expertise and review processes
• Lack of reporting and deadline management
  

Our contract management approach addresses these challenges while taking into account your contract management governance: It is crucial that contract management is holistically adapted, i.e. optimally adapted from the point of view of corporate processes as well as legal and accounting-relevant issues, and, if possible, provided integrated into existing IT systems.

Our consultancy begins with the recording and assessment of your contract management maturity level and the development of recommendations for action. The next step is the conception and piloting of optimisation measures as well as the selection and implementation of an IT system. You can also use our KPMG contract management system for this. Finally, the measures are provided in the form of a company-wide CLM governance. Continuous change management promotes the acceptance of these measures.

Interdisciplinary project teams from KPMG with proven CLM and IT experts, lawyers, tax advisors and auditors with experience from a large number of national and international projects for the introduction of contract management are happy to support you in these challenges.

• Risk minimisation and implementation of opportunities contained in contracts (economic and legal) through a transparent contract landscape, uniform contract templates, involvement of necessary technical expertise and effective control mechanisms
• Increased efficiency and quality through standardised processes, reduced complexity of the contract landscape, controlled information and communication flows, and harmonised, integrated systems along the contract life cycle
• Cost minimisation through system-supported, efficient processes in contract creation and management as well as reduction of resource expenditure