Contract management
for procurement

Scale the purchase of your services and products even faster, more efficiently, and more sustainably.

BENEFITS

Time is money. This principle is particularly important in purchasing. Neither your purchasing team nor your suppliers can or want to spend days or weeks dealing with legal bureaucracy. This is exactly where we come in.

1

One central core system for legal processes

A contract requires at least two people. However, there are many more people who have a point of contact in the lifecycle of legal documents. The parties involved usually communicate independently of each other by e-mail or even by exchanges of letters. Individual processes thus have to be forwarded, put into context, discussed and released many times. PACTA brings together management, the legal department and the purchasing department on a single platform and maps the right workflows for each internal and external stakeholder.

With PACTA, have all legal processes managed on a single platform by  management and the legal department and have it implemented by the purchasing department.

This way, you create a unified solution for all stakeholders and optimize the entire lifecycle of your supplier relationships from offer to termination.

2

Automation of recurring processes

Sales contract processes involve numerous manual operations.

With PACTA, you can automate the digitization of paper documents, document creation, approvals, contract data extraction, and deadline management.

As a result, you can save an average of 41% of the time spent throughout the lifecycle of your supplier relationships.

3

Optimization of your contract negotiations

Supplier contracts are currently concluded within 60 days on average. However, the time required to coordinate individual contract parameters with the contractual partner is often only a few hours. The devourers of time are administrative activities and inefficient contract negotiation. Contract negotiation usually consists of endless e-mail chains, editing word documents in markup mode, and hundreds of comments.

With PACTA, you negotiate and edit contracts together with all parties in real time. This way you halve both the number of your negotiation steps and your absolute negotiation time.

4

Legal security with maximum agility

In order to shorten the purchasing process, buyers often individualize supplier contracts themselves and without legal counsel. This often results in legal errors or ambiguous clauses.

With PACTA, your legal department manages the entire legal sales process without being overloaded with simple recurring tasks. As a result, you create more legal certainty and eliminate an average of 75% of the sources of error in your documents.

Management and the legal department can determine in advance a legal framework within which your purchasing department may operate without further coordination. If individual contract clauses exceed this framework, an automated release and approval process starts.

You and your legal team maintain control over your documents at all times, while ensuring maximum agility in your supplier relationships.

5

All data and deadlines at a glance

Searching through supplier contracts for relevant contract parameters and filtering your documents by specific suppliers or product segments is time-consuming. But it is even more inconvenient if you miss the notice period of one of your supply contracts or master supply agreements due to a lack of clarity.

PACTA extracts all your contract data and contractual deadlines for you and presents them clearly in a searchable and customizable table. As a result, you generate audit reports on average 31% faster than before and never miss a delivery or termination deadline again.

6

Digitalization of your paper contracts

We understand that not all companies work with digital documents yet. The step to digitization is not always easy and often requires good change management.

We have approached this problem and came up with a solution as easy as possible for you. PACTA comes with automated text recognition (OCR) software that automatically turns simple scans into readable PDF documents. This way digitization reaches you sooner and easier than you expected.

7

Sustainability and cost savings

Concluding contracts by handwritten signatures, mailing, and returning paper documents is not only time-consuming, but also resource-intensive.

With PACTA Signature, you sign your documents within seconds instead of waiting an average of two weeks for a contract to be returned.

Protect the environment and save costs. For example, a medium-sized company would save an average of almost 300,000 pages of paper, 4.3 tons of wood and 1.5 tons of CO2 per year.

YOUR PROCESS

Optimize your legal processes across the entire lifecycle of your supplier relationships. From the initial offer, through negotiation, executive or legal approval, digital signature, and monitoring of your supplier contracts, to term and termination management. Manage more contract volume in less time.

1

Document storage and internal collaboration

2

Draft side agreements

3

Release of the draft document

4

Digital signature of the supplier agreement

5

Monitoring and reporting

6

Termination, extension or adjustment

With PACTA you can scale your business even faster and more sustainably. Find out how and get the first 5 PACTA signatures per month for free during the first year of your contract:

FAQ

What exactly is meant by document automation?

Michael Czapla

Senior Sales Professional

With PACTA, you can automate more than just the creation of contracts. Rather, with PACTA you can automate all your legal operations holistically. From upload to draft, approval, signature, data extraction and deadline management - with PACTA you automate the entire lifecycle of legal documents.

How does document analysis work?

Arthur Gogohia

Data Scientist

For our automated extraction of relevant information from documents, we rely on state-of-the-art deep learning architectures. In the first step, a specially trained neural network recognizes important parts within a document. In the second step, our algorithms process this information into insightful findings. In the third step, the data is sorted and clearly presented on the platform.

How does automatic text recognition work for documents?

Jeffry Cacho

Data Scientist

We achieve automated extraction of text from scans in two steps. First we use image processing algorithms to optimize the quality of the scans. Our customized deep learning model then detects existing text in the image with pixel precision and converts it into digital text. This makes scans searchable and eliminates the need to manually type out the text.

CURRENT CUSTOMERS

Our customers and partners trust in PACTA and our expertise.

"With PACTA, we can automate the creation of bond terms and conditions as well as investment and securities information sheets with a high degree of individualization. This gives us more time to structure investment and hedging concepts on a case-by-case basis and to advise our clients individually on financing issues."

Dr. Matthias Möller, Partner at SCHIEDERMAIR Rechtsanwälte in Frankfurt am Main

"We operate one of the largest online law firms in Germany. PACTA is our technical basis with the help of which we can create and update our online contract forms in a scalable way. PACTA offers us a significant speed and efficiency advantage over our competitors. It enables us to offer all our consulting services at any time, on demand, with the highest quality and at fair prices. In addition, we gain more time for client support."

Dr. Georg Schröder, LL.M., Managing Director at legal data Schröder Rechtsanwaltsgesellschaft mbH

"By using PACTA, we were able to accelerate our digitization process in an uncomplicated and fast way. PACTA offers us the possibility to work even more efficiently and independent of location."

Thomas Knüppel, Partner at Klopsch & Partner Rechtsanwälte mbB

"Without PACTA, it is hardly conceivable that a consultation with a lawyer in a distant city could proceed in this way. As a company that offers digitization projects ourselves, we are very enthusiastic about the potential of PACTA."

Jörg Godau, Managing Director at VRR Consulting

With PACTA you can scale your business even faster and more sustainably. Find out how and receive the first 5 PACTA signatures per month for free during the first year of your contract: