OpenText Contract Center
Smarter process automation for all forms of contracts and legal agreements
Legally binding contracts and agreements touch every area of the enterprise. Too often, they are spread throughout an organization, inaccessible to the people who need information held in them. Organizations must deal with inefficient manual processes, inconsistent formats and disparate storage systems. All of these issues make it harder to work with customers and partners and generate long cycle times and high costs. In addition, lack of centralization makes it impossible to utilize automation to achieve better contract terms and adherence, and identify contracts that need to be updated for business and compliance reasons. Finally, organizations risk non-compliance with internal information governance mandates or regulatory requirements.
OpenText Contract Center transforms contract management beyond document workflows with smarter process automation that integrates an enterprise-wide contract portfolio into existing systems and work processes. Combining flexible digital process automation with powerful analytics and the breadth of OpenText’s industry-leading enterprise content management platform, it accelerates cycle times and drives operational efficiency. Organizations gain the visibility needed to take advantage of contract and renewal incentives, share best practices and address non-compliance.
OpenText Contract Center Benefits
- Accelerate cycle times and increase stakeholder satisfaction. Automate contract creation, review, approval and execution. In addition to digitizing document workflows, OpenText Contract Center offers dynamic workspaces that embed best-practice guidance and guardrails along with easy collaboration among internal and external stakeholders. Throughout the process, users have access to contracts with business context; integrated into relevant enterprise systems.
- Create operational efficiencies with smarter automation. Process intelligence and built-in predictive analytics deliver the visibility needed to automate repetitive activities, share best practices including common terms and approved language, take advantage of contract and renewal incentives, , and identify non-compliance.
- Enforce contract standardization and minimize risk. Provide users with templates that incorporate approved language along with guided authoring and robust security and authentication. Manage an enterprise-wide contract portfolio with controlled access through a centralized, secure repository. Ensure adherence to terms and conditions. Control archiving and disposition. Use analytics to proactively manage renewals and identify potential non-compliance.
- Move at digital speed. Gain the flexibility to adapt and expand contract management to fit the needs of your business without putting a burden on your IT department. Citizen developers can customize and integrate Contract Center with less IT support than more rigid solutions.
Bring Enterprise Information Management to Contracts
OpenText Contract Center brings the full benefit of OpenText enterprise information management to business-critical contracts. It offers dynamic process automation that can be integrated into existing systems and work processes and customizable in a low-code environment, supported by the full breadth of OpenText’s industry-leading enterprise content management platform.
Streamline Processes with Smarter Automation
Take advantage of a single-vendor solution incorporating contract document capture, OCR, document composition, contract red-lining, contract lifecycle execution and lifecycle orchestration with dynamic case handling, document repository, records management and archival. Configure the workflows and review steps that make sense for your business. Process intelligence and predictive analytics deliver the visibility needed to take advantage of contract and renewal incentives, share best practices, and identify non-compliance. Plus, user collaboration increases stakeholder engagement and system adoption.
Give Stakeholders the Right Content in Context
Offer end users an in-context, 360-degree view of the information they need to get their jobs done out-of-the-box, tightly coupled with powerful process automation and multidirectional integration with all relevant enterprise systems. Contract Center includes Connected Workspaces, which bring rich information about the contract and the people working on it into a single view, either a contract portfolio view or even within enterprise applications such as CRM or procurement systems. Even if your enterprise has multiple systems of record, users benefit from a consistent view of contract information.
Digitize Document Signing
Contract Center integrates with DocuSign for electronic signatures. DocuSign helps enterprises with a faster workflow that includes system controls to ensure forms are filled out properly and documents are never lost—and its complete audit trail lets users know which step of the process a document is in every step of the way.
Extend and Integrate
Easily customize and extend the solution to suit your needs. Plus, business users can think about contract policies and workflows from their perspective, centered around the information that needs action rather than around a rigid process that may not reflect the circumstances at a given point in time.
Control and Compliance
Auditing capabilities for documents, data and processes provide alignment with regulatory compliance and internal governance initiatives.