About the project

Organizations, especially those in industries where compliance and data security are crucial, face ongoing challenges in managing and tracking contractual agreements. We recognized this widespread issue among clients who needed to juggle a growing number of contracts while ensuring compliance with industry standards like TISAX, which imposes strict requirements for data security and operational transparency.

The project aimed to alleviate these challenges by developing a centralized platform, Contract Manager, that addresses the entire lifecycle of contract management. This platform simplifies the process by offering predefined templates for quick contract creation, integrated digital signatures for legal compliance and real-time tracking of contracts. By centralizing contract management, the tool ensures full visibility into active contracts and adherence to compliance standards.

The solution was designed for organizations that manage multiple contracts across different jurisdictions and industries, particularly those in sectors like automotive, finance, and manufacturing. In these sectors, contract management involves high-stakes agreements that must align with internal policies and external regulations, which is why real-time updates and easy auditing became key features of the Contract Manager. By integrating these capabilities into one streamlined system, Ascendro ensured that clients can manage contracts more efficiently and reduce the risks of non-compliance.

Challenges

While building the Contract Manager tool, we faced several technical and logistical challenges that required innovative solutions:

Customization & Flexibility: Developing a tool that accommodates both standardized contract templates and custom agreements was a key challenge. Many businesses require flexibility to handle unique contracts, while also needing predefined formats to ensure consistency. Balancing these two needs required the creation of a dynamic yet user-friendly template system that could easily adapt to different contract types.
Compliance Integration: Ensuring that the tool not only tracked contracts but also met stringent TISAX compliance standards was complex. We had to integrate robust tracking and alerting mechanisms for contract expiry, renewals, and compliance timelines, which meant building a sophisticated alert system while maintaining ease of use.
Security & Digital Signatures: Implementing secure, digital signature capabilities posed another challenge. The system needed to provide seamless integration of digital signature workflows while maintaining the highest level of data security, especially when handling sensitive agreements like NDAs or high-value contracts.
Real-time Monitoring & Notifications: Ensuring real-time tracking and visibility for all active contracts involved setting up a system that constantly monitors contract statuses and sends notifications without overloading users with unnecessary alerts. Balancing this required designing a smart, customizable notification system that kept key stakeholders informed while minimizing distractions.

Solution

Contract Manager was designed to solve these challenges while providing an intuitive and powerful tool for businesses. The solution incorporates several essential features:

Predefined Templates and Custom Contracts: We addressed the need for flexibility by offering both standardized contract templates and the ability to upload custom contracts. This solution allows companies to quickly create contracts using predefined formats while maintaining the option to adapt the tool for unique legal agreements.
Compliance Tracking & Alerts: To ensure adherence to TISAX and other industry standards, the Contract Manager includes robust tracking capabilities. The tool automatically monitors contract expiration dates and renewal deadlines, sending real-time notifications to relevant parties. This feature ensures that companies remain compliant without manual intervention.
Integrated Digital Signatures: We implemented a secure, integrated signature management system, allowing users to sign contracts digitally. This eliminates the delays and risks associated with manual signatures, while maintaining a high level of security, especially for sensitive documents.
Real-time Contract Visibility: The solution offers real-time visibility into contract statuses, with the ability to track multiple agreements across various stakeholders. This ensures that key team members always have up-to-date information, leading to more efficient contract management and better decision-making.

Technologies used

Low-Code

Results

The introduction of Contract Manager has helped our clients streamline contract-related operations. It helped reduce manual workloads, improved contract tracking efficiency, and ensured that all contractual obligations were managed in compliance with TISAX. Clients benefited from increased transparency and operational efficiency, all while maintaining strict security standards.

Perspective

Moving forward, the system is set to evolve with features tailored to meet future regulatory changes and operational needs, offering a scalable solution for long-term contract management.