Do you know where all your customer contracts are?

If you don’t, you’re not alone. According to a report in the Journal of Contract Management, 71 percent of companies couldn’t find at least 10 percent of their contracts.

The value of your customer contracts is key to the value of your organisation. But misplaced contracts also mean you can’t say with any accuracy what your company is obligated to or what you owe in money or services. You could be violating contract terms you’re not even aware of, leading to at least a damaged business reputation and worse, legal damages and court costs.

No such issues are faced by Best Buy Europe, a part of Best Buy inc. the worlds largest electronics retailer, who leverage the power of Celaton’s inSTREAM™ technology and services to handle the contracts created by new customers at its growing number of retail stores.

inSTREAM™ for Contracts is the easiest way to streamline and automate the handling of contracts and forms to provide a complete end to end solution for the rapid capture and automated extraction of key data with interactive workflow to complete the contract process with minimal human intervention

With inSTREAM™ for Contracts, visibility, control and compliance is assured. Time to process is reduced to minutes rather than days, ‘checks and measures’ are in place to ensure that contracts are processed in strict accordance with business rules and that exceptions are handled by the right people without delay regardless of their geographical location.

Contracts and key data are securely stored within inSTREAM™ electronic document management system but linked to customer or supplier records within external CRM or ERP systems. inSTREAM™ for contracts tracks each time a contract is accessed emailed or printed and notifies contract managers of key contract dates ensuring compliance with legislation such as Sarbanes-Oxley.