A central electronic archive for all contracts – along with automatic notifications before important due dates – reduces the risks relating to dependence on key personnel. The system also provides a better overview of the supplier portfolio, and this enables us to optimize the number of suppliers and the terms and conditions of contracts.
We have countless service contracts concerning our office premises – for instance security services, internet, electricity and coffee machines. In just a few clicks, I get the full overview. It is a joy for me as a CFO to be able to manage the contracts in Complete Control instead of having to look them up via the ERP system.
Now, we are proactively managing vendor contracts – re-evaluating or renegotiating them before they expire. We saved money immediately because we could cancel unnecessary service agreements. With Complete Control, making estimates for next year’s budget is both fast, precise and easy.
Having 400 rental agreements and an annual rent bill of NOK 1 billion constitutes a considerable business risk. It’s very important that the leases we want to retain are renewed and/or renegotiated. With so many leases, this work must be automated, otherwise we could easily run into trouble that would cost us millions.
