Contract management for operations teams

A study by Freeform Dynamics highlights that for 76% of respondents, the complexity of the IT landscape is a significant barrier to productivity. One problem cited was contract management, for which operations teams are often responsible. Contract documents are usually spread across various IT tools, such as Excel, Slack, Apollo, Salesforce and many more. This not only makes it difficult to find relevant contract information quickly, but also to manage it efficiently. ContractHero addresses this challenge by storing all contracts centrally and clearly and provides a comprehensive address book for all contract partners, enabling a clear overview of existing agreements. In addition, ContractHero enables OCR (Optical Character Recognition) technology that allows contract details to be identified and retrieved in seconds.

Operations teams often face the challenge of working with a variety of different contract types and contractors, including suppliers, freight forwarders and warehouse service providers. Each of these contract types comes with specific clauses and compliance requirements that need to be manually managed and monitored. This complexity makes it difficult for the team to keep track of upcoming deadlines, relevant performance indicators and liability clauses. As a result, the potential for errors increases and opportunities for optimization remain untapped. ContractHero addresses this problem by providing individual contract fields. This feature allows the team to efficiently categorize and structure contracts, simplifying contract management and minimizing errors.