AscenWork Technologies

Contracts Management

SharePoint Contracts Management Application

Business

Our Client can be traced back to the early 1800s, they linked up with several British firms and expanded rapidly. Over time, our client established itself in diverse business sectors such as banking, textiles, jute, and tea. Our Client consists of over fifteen companies across core sectors of the economy, with a turnover above the US $3 billion.

Challenge

The client’s major challenge was to monitor multiple projects with contracts, their amendments, and managing payments slab with payment history. Amendments come with multiple changes and multiple versions of the contract. The client wanted to keep a track of payment slabs and their payment structure. The client wanted a system that would allow them to have a record for each project with amendment and payment details.

Solution

The SharePoint-based Contract management system is a one-stop solution for the client. It is not just a contract management application but also an application that can record payment details with history along with the agreement/project related to it. You can also attach documents to the project. AscenWork’s contract management application caters to the entire process from tracking to payment disbursement against a project. The client is using the application for its CSR activities. The application can create contracts and agreements with key terms on the contract along with Payment Structure / Renewal details and Scope of work of the project. Any changes made to the transaction get tracked as an amendment in the application. The changes can be audited later if needed. The system can also track the payment stages and payment status.

Key Features of SharePoint based CMA

Result

Addressing all the challenges was the sole purpose of the SharePoint Contract Management Application and project budgeting for our client. They received a system managing all the documents/agreements and the changes made on the contract with which the user has done the changes. We were able to integrate a system through which they were able to keep track of payment related to the project with payment details. Overall one-stop solution for all the contracts executed within the organization.

At A Glance

What they wanted to do

• Streamlined processes and improved productivity
• Contract Tracking
• End to End Process Automation
• Approval Process
• Find a cost-effective solution

What they did

• Automated the Contracts tracking on all projects
• Used end to end application development by AscenWork Technologies
• Collaborated on various processes through the application.

What they accomplished

• Drastic reduction in Human errors
• Improved compliance & Email Alerts
• Automated Project forecasting & Invoice processing
• Faster tracking of Approvals and Change request