Contract management
for legal departments

With PACTA you scale your legal processes even faster, more efficiently and more sustainably

BENEFITS

Time is money. This principle is particularly important in the legal department. Neither the other departments for sales, purchasing and human resources nor your employees, customers and suppliers can or want to spend days or weeks dealing with legal bureaucracy. As a result, many legal departments are hopelessly overburdened or the specialist departments start to write their own contracts. This is exactly where PACTA comes 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 transactions thus have to be forwarded, related, discussed and approved many times. PACTA allows you to manage all legal processes on a single platform by management and the legal department and have them implemented by the specialist departments. Map the right workflows for each internal and external stakeholder. This way, you create a unified solution for all stakeholders and optimize the entire lifecycle of your legal relationships from the first request to termination.

2

Scalable contract processes on demand

Customer contracts, supplier contracts and employment contracts are currently concluded within 66 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 document creation and processing. With PACTA you solve exactly this problem. Management and the legal department define the required contract forms and legal processes once. The departments can then access these workflows permanently on demand and initiate the closing process immediately, independently and directly. Over the entire lifecycle of your customer relationships, save an average of 44% of the labor time spent and increase your average contract volume by 25%.

3

Legal security with maximum agility

In order to shorten the closing process even without contract management, employees of the specialist departments often individualize their contracts themselves and without legal assistance. This often results in legal errors or misleading clauses. With PACTA, your legal department manages the entire contract 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 company's legal documents. Management and the legal department can define a legal framework in advance, within which your specialist departments are allowed to operate without further coordination. If individual contract clauses exceed this framework, an automated release and approval process starts. You retain control over your documents at all times while ensuring maximum agility in your contractual relationships.

4

Optimization of your contract negotiations

Contract negotiations usually consist of endless email chains and editing Word documents in markup mode, as well as hundreds of comments.  With PACTA, you negotiate and edit contracts together with all parties involved in real time. As a result, you halve both the number of your negotiation steps and your absolute negotiation time.

5

All data and deadlines at a glance

Searching through contracts for relevant contract parameters and filtering your legal documents by customer, supplier or product segment is time-consuming. But it is even more inconvenient if you miss a termination deadline due to a lack of clarity or if you accept a termination from your customers even though an automated renewal of the contractual relationship has already occurred. PACTA extracts all your contract data and contractual deadlines for you and presents them clearly in a searchable and customizable table. Create legal audit reports an average of 31% faster than before. Keep track of all your contract parameters and deadlines at all times with PACTA.

6

Digitization 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 customer satisfaction

Concluding contracts by handwritten signatures, mailing, and returning paper documents is not only time-consuming, but also resource-intensive. With PACTA Signature, you can have your documents signed in seconds instead of waiting an average of two weeks for a contract to be returned. This increases your customers' and employees' satisfaction with your company's legal processes by an average of 80%.

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 legal relationships. From the drafting of customer contracts and their signature in sales, to the negotiation of supplier contracts in purchasing and their approval by management, to term and termination management in HR, PACTA helps you manage more contract volume in less time.

1

Draft (have drafted) documents

2

Approve drafts

3

Save and collaboratively edit documents

4

Negotiate contracts digitally

5

Have contracts digitally signed

6

Monitor contractual relationships and create reports

7

Terminate, adjust or extend contracts

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: