The CFO of 07 Media praises Complete Control: It offers everything you could want from a contract lifecycle management tool, he said.
Most businesses in the Oslo region that need advertising boards, trade-fair materials, printed materials and digital visibility are probably familiar with 07 Media. The company, which employs around 220 staff, was formed in 2007 through the merger of a number of leading businesses in marketing, publishing and graphic production and design. The printers PDC Tangen, with headquarters in Oslo and offices in Kristiansand and Aurskog, is one of the better-known founder members.
Easy to start as the new CFO
Major operations generally involve multiple service providers and ongoing contracts, spread across various businesses and locations. 07 Media is no different. It can be difficult for a new Chief Financial Officer (CFO) to gain an overview and control over all the company’s contracts and commitments, and get a handle on ongoing expenses in the coming months, quarters and years. However, CFO Inge Leirvik had no such problems when he started at 07 Media in 2018.
“My predecessor was extremely systematic and established an outstanding control structure throughout the company. He had everything under control, including an iron grip on all the company’s contracts with service providers. This made it easy for me to take over management of the contracts.
“He had also chosen a particularly intuitive tool. The fact that I’ve never had to contact Support and right from the start have managed just fine on my own says it all really. If I had to sum up what the tool gives us, I’d say an overview, simplification, control and efficiency,” explains Leirvik. The tool in question? Complete Control.
”A pleasure for me as CFO”
The CFO explains that the tool proved extremely useful when the company relocated its head office the short distance from Løren to Sandaker in Oslo, in late 2018:
“We had a high number of deliverables to our various office locations, for example alarm systems, internet services, energy, insurance and coffee machines. With just a couple of mouse clicks I had a full overview and could systematically work through all the contracts that needed to be cancelled or renegotiated, and set up alerts for notice periods.
“It was an absolute pleasure for me as CFO to be able to manage the contracts using Compete Control, instead of having to trawl through our finance system. All the contracts, including appendices and contract documents were readily available. There is no need to know how the contracts are filed, what year, what type of supplier etc. All the contracts are easy to find.
Leirvik says that the tool provides you with everything you need to manage contracts, such as contract amounts, contact details, contract and payment terms, notice periods and much more.
“Not only is it easy to get started as a user, you also have a unique oversight on your own dashboard and can easily run useful reports. It offers everything you could want from a contract lifecycle management tool.” It’s almost foolproof.
Also used for customer contracts
Most users of Complete Control currently use the SaaS product to follow up service providers and other commitments, such as tenancy contracts. 07 Media is one of the users who also use the tool to follow up customer contracts.
“The tool has helped us to standardise our contracts, made it easy to gain an overview of complex deliverables and to set up alerts for important events. Just like with our suppliers, adopting a more professional approach is making us more predictable, systematic and better at interfacing with our customers,” concludes Leirvik.