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 the information within 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 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, the application accelerates cycle times and drives operational efficiency. Organizations gain the visibility needed to take advantage of contract and renewal incentives and share best practices.
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 and make collaboration among internal and external stakeholders easier. Users have access to contracts with business context; integrated into relevant enterprise systems.
- Create operational efficiencies with smarter automation. Deliver the visibility needed to automate repetitive activities with OpenText iHub’s out of the box built-in contract analytics to take advantage of contract and renewal incentives and identify non-compliance issues.
- Move at digital speed. Gain the flexibility to adapt and expand contract management to fit business needs without putting a burden on the IT department. Citizen developers can leverage the low-code AppWorks Platform to 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 are 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, contract lifecycle execution and lifecycle orchestration with dynamic case handling, document repository, records management and archival. OpenText iHub and contract analytics deliver the visibility needed to take advantage of contract and renewal incentives, share best practices and identify non-compliance issues. Additionally, 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 out-of-the-box, tightly coupled with powerful process automation and multidirectional integration with all relevant enterprise systems. Contract Center includes connected workspaces to bring rich information about the contract and the people working on it into a single view, either a contract portfolio view or within enterprise applications, such as CRM or procurement systems. Users benefit from a consistent view of contract information even if the enterprise has multiple systems of record.
Extend and integrate
Easily customize and extend the solution to the organization's needs. 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.