How CFOs can optimize complex business processes | House of Control

Imagine your CEO calls late on a Friday, requesting by Monday morning a complete overview of all contracts and their associated liabilities. Relying on manual work, this becomes nearly impossible.

This is just one of many scenarios where a centralized platform with all contracts and metadata in one place becomes essential.

Summary: Why CFOs are turning to contract management software

CFOs face increasing complexity in managing contracts across global operations. Contract management software centralizes agreements, reduces costs, improves compliance, and gives finance leaders full visibility and control.

What is enterprise contract management software?

Large companies deal with complex contracts every day, and spreadsheets or basic tools simply don’t cut it. That’s where enterprise contract management software comes in. It makes it easier to bring all contracts into one place and to create, track, and report on agreements across the business.

Enterprise contract management software is built for complexity. Cloud-based systems give finance leaders full control over contract creation, negotiation, compliance, and renewals. For CFOs, that means less financial leakage, stronger risk management, and better regulatory oversight.

Contract management software has quickly moved from being a back-office utility to a core part of the enterprise software stack, right alongside ERP, CRM, HR, and supply chain systems.

Why is contract management complex in large enterprises?

• Volume: Enterprises manage thousands of contracts across multiple business units, making it difficult to track obligations and deadlines.
  
  
• Diversity: Supplier agreements vary widely in terms, conditions, and geography, adding layers of complexity.
  
  
• Risk: Every contract carries commercial, financial, reputational, and regulatory risks.
  
  
• Negotiation and renewal: Expiring contracts often cause lengthy, complex negotiations with multiple suppliers.
  
  
• Stakeholder coordination: Procurement, legal, finance, and business units all have different interests that need alignment, which is rarely simple.
  
  
• Global supply chains: Operating across markets adds logistical and compliance challenges.
  
  
• Data management: Contracts hold valuable data that can drive insights, but without smart systems, this information often remains untapped.

The inefficiency of manual contract management
Large organizations without contract management software rely on manual processes and spreadsheets. But at what cost?

• Approvals: Contracts must be reviewed by legal, procurement, and finance. This makes approvals time-consuming and often frustrating, though essential for the audit trail.
  
  
• Storage: Contracts end up scattered across filing cabinets, shared drives, and inboxes.
  
  
• Monitoring: Critical dates and obligations tracked manually are prone to errors.
  
  
• Visibility: Without a centralized system, companies lack visibility into contracts, leading to financial leakage, unnecessary spend, and dormant agreements. The result is avoidable costs such as penalties, fines, missed opportunities, and compliance gaps.

The benefits of contract management software

CFOs choosing enterprise contract management software typically focus on six core benefits that drive value:

• Cost savings and risk reduction: Eliminate duplicate or unused contracts, prevent forgotten agreements, and cut unnecessary spend.
  
  
• Budget accuracy: Visibility into liabilities improves forecasting and financial planning.
  
  
• Stronger negotiations: Alerts on renewals give more time to secure better terms.
  
  
• Stronger compliance and ESG (Environmental, Social, Governance) management: Support IFRS 16 lease accounting, internal policy adherence, and supplier sustainability monitoring.
  
  
• Efficiency: Automated workflows and e-signatures speed up the entire contract process.
  
  
• Transparency and governance: Centralized reporting and standardized practices provide instant insight and ensure contracts are properly executed and stored.

Book a demo of our contract management software

House of Control, part of the Visma group, is a leading provider of contract management software. Our cloud-based enterprise solution helps around 2,000 businesses gain control, cut costs, and reduce risk.

In your demo, you’ll see how our cloud-based solution combines ease of use, fast implementation, and robust security.