Document Capture | Expense Management

Automate your contract management 

Save time and money with a contract management solution to automate your financial processes.

✔ Centralize your contract management

✔ Get intelligent suggestions for contract generation

✔ Automate your contract approval process

✔ Stay on top of your contract renewals

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Centralized contract lifecycle management 

Having to search through multiple emails and spreadsheets to find information about your recurring invoices and subscriptions can be time-consuming. Missed contract renewal deadlines can be costly, and a lack of overview can make contract negotiations difficult.

Quit paying for unused subscriptions with one central overview of all your recurring costs. With Purchase Contracts, you can say goodbye to your manual processes and save time with a clear overview of all your contracts.

The Purchase Contracts module lets you manage your recurring invoices directly from your Business Central. It’s available for both Continia Document Capture and Continia Expense Management, so you can enjoy seamless contract management in your AP and expense management processes.

Why invest in contract management automation software?

Every month, your company receives a long list of subscription charges. These recurring charges range from individual employees’ software licenses to car leases, media subscriptions, and essential facility services. Many of these contracts automatically renew or increase in price upon expiry.

By implementing purchase contract automation software like the Purchase Contracts module, you can keep track of your contract agreements from one central place. Secure the best possible deals by having all your contract documents readily available for easy comparison when renewal time approaches.

A contract management system like Purchase Contracts ensures that no unused or inaccurate contracts slip through the cracks. At the same time, it automates the repetitive and manual tasks tied to these recurring charges. This helps your company secure the best possible terms and conditions, helping you avoid unnecessary costs.

Key benefits that add value to your workday

Schedule reviews

Save money by scheduling regular contract reviews. That way you can manage or cancel your contracts before they’re automatically renewed.

Gain an overview

Get a complete overview of all your company’s recurring costs and subscriptions to avoid surprises when budgeting.

Purchase Contract Intelligence

Let the system detect patterns in recurring invoices and expenses and save time with automated suggestions for contract creation.

Easy approval

Auto-approve recurring invoices and expenses for a more efficient contract approval process.

Manage your contracts from one place

Keeping track of your organization’s contracts, subscriptions, and other recurring costs is time-consuming. Save time by managing all your contracts directly from your Business Central.

By seeing all your business contracts in one place, you get an excellent overview for comparing contracts, considering new suppliers, or renegotiating contract terms. You can also use the module to determine if you can merge multiple contracts to reduce your overall costs.

Thanks to the flexible overview, you can also keep track of the various costs per dimension associated with one or more contracts, such as department, employee, vendor, and so on.

Stay on top of your contract review process

Ensure timely contract renewals and avoid paying for unused subscriptions. With Purchase Contracts, you get an efficient subscription management system that can send you automated review reminders when a subscription contract is about to expire. By setting up such contract automation, you eliminate the need for manual tracking and avoid missing important deadlines.

With this contract management software, you can easily review your contracts on a recurring basis. This will help you stay on top of whether they should be renewed, modified, or canceled. You can also assign different reviewers to different contracts to delegate the workload and save time. 

Intelligent contract generation

Optimize your contract management and save time with proactive contract creation. Whether you're dealing with office leases, software licenses, insurance, or facility management services, the Purchase Contracts module can detect patterns in incoming and posted invoices.

If the software detects recurring payments, you receive automatic suggestions for creating contracts, making contract generation a seamless part of your existing AP workflow. Creating and managing your company´s contracts has never been easier!

Auto-approve your purchase documents 

While invoice approval is key to protecting your company’s cash flow, contracts and subscriptions will typically have recurring charges that can save you time in your document approval process.

With Purchase Contracts, you can automatically approve your purchase documents, such as invoices and credit memos, by linking them to a purchase contract. You can also set up automatic approval for contracts and subscriptions under a certain amount. 

Types of purchase contracts  

Manage different types of contracts and subscriptions – the list is endless! Some examples include:  

  • Office leases  
  • Software licenses  
  • Insurance  
  • Phone and internet services  
  • Server backups  
  • Facility management services, such as catering, cleaning, and indoor plant maintenance  
  • Car leases  
  • Business newspapers and magazines  

Free trial for Business Central Cloud users 

Experience the impact of Purchase Contracts on your own operations. Purchase Contracts is included in Expense Management and is available as an add-on module to Document Capture. Activate the module in trial mode and explore the full benefits at no additional cost for the first 30 days. 

Simply activate the module on the Continia Solution Management Page if you've already got Document Capture installed.   

View our free trials here
  • What is contract lifecycle management?

    Contract Lifecycle Management (CLM) is the process of overseeing all elements of a contract to ensure it performs well, follows rules, and meets its goals. This process spans from when the contract is signed, through its active phase, and up to its renewal or end. Here are the typical stages:

    • Initiation/request: The process begins when a need for a contract is identified, whether for goods, services, or a specific business requirement.
    • Authoring/drafting: A contract is drafted using organizational standards, legal guidelines, and specific requirements of the deal.
    • Review: The drafted contract is reviewed by all stakeholders, including legal teams, to ensure it meets all necessary standards and requirements.
    • Negotiation: This stage involves back-and-forth discussions to finalize the terms of the contract. Adjustments and amendments may be made based on feedback from involved parties.
    • Approval: The contract requires formal approval from designated authorities within the organization to proceed.
    • Execution: Once approved, all parties involved in the contract sign it, making it legally binding.
    • Ongoing management: The contract is actively managed to ensure compliance with its terms, manage renewals, track performance, and make any necessary amendments.
    • Renewal/expiration: As the contract nears its end, decisions are made about whether to renew it based on its performance and continued relevance.
    • Archival: Once a contract is no longer active, it is archived. This involves storing it securely in a way that it can be accessed for reference, compliance, or audits.

    This lifecycle ensures that contracts are created and managed efficiently, legally, and beneficially for all parties involved.

  • What is contract management automation?

    Contract automation involves using software to streamline and enhance the various stages of the contract lifecycle within a business. It's particularly useful in the context of accounts payable (AP) and expense management processes. Here's how it simplifies these areas:

    • Contract creation: Automates the generation of contracts using pre-approved templates to ensure accuracy and compliance.
    • Review and approval: Streamlines approvals through automated workflows, ensuring contracts are reviewed by the correct personnel without delays.
    • Ongoing management and compliance: Monitors contract terms to ensure all parties fulfill their obligations and supports compliance through detailed records.
    • Renewal and termination: Automatically notifies managers about contract expirations, aiding in timely decisions on renewals or terminations.
  • Why automate contract management?

    Automating contract management processes offers several key benefits, allowing employees to focus on

    high-value activities that drive business growth. Contract software provides companies with the following benefits:

    • Efficiency and speed: Reduces manual tasks, speeding up contract processes.
    • Accuracy and compliance: Minimizes errors and ensures adherence to laws and policies.
    • Cost reduction: Lowers operational expenses and mitigates compliance-related financial risks.
    • Improved visibility and control: Centralizes contract storage for better tracking and management.
    • Scalability: Manages increasing contract volumes without additional staffing.
    • Enhanced security: Secures sensitive data and controls access to contract information.
    • Proactive management: Automates alerts for renewals and expirations, preventing oversights.