Founded almost four decades ago as a hotel and asset management firm, today they evolved into a hospitality group that encompasses hotels, restaurants, destination management services, catering and transportation. Under its Hotels Division, the client owns some of the most reputable and recognizable hotels in the Emirate and beyond:
| Industry | Hospitality |
|---|---|
| Technology | Microsoft SharePoint Online |
The organizations have 20,000-40,000 contracts and 60-80% of all business transactions are governed by contracts or agreements, which on average take upwards of 3 weeks to draft. However, organization do not have a clearly defined enterprise-wide process for drafting, reviewing, negotiating and managing contracts. Rarely is there clear visibility of contracts, which are often archived on paper or electronic systems, where key contract milestones, commitments and obligations remain hidden. On certain cases there is lacuna to the extent of 10% of all executed contracts are lost. The challenges are:
The challenges are: -
In order to overcome the major hurdle, TechnomaX implemented the contract management system using SharePoint online. This helps streamline the contract management process by quickly moving contracts from one step to the next to keep the contract moving forward to completion. One person or in parallel, once the person approves the next person in the workflow is notified, ensuring the contract moves from one stage in the process to the next, quickly and seamlessly. Notifications are sent to authorized people using automated emails to alert them to new tasks. Notifications can also be used to alert authorized managers that the contract is ready for signing.
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