Contract Lifecycle Management
for Procurement Teams
Scale even faster, more efficiently and more sustainably. With PACTA and our artificial intelligence "Themis", you automate your legal procurement processes in an intelligent no-code workflow management and access the contracts and content of your legal department on demand in a central legal hub for data-driven contract lifecycle management and more.
Time is money. Especially in procurement, this principle is decisive. Trivial administrative tasks and inefficient document processing are far too often the bottleneck in your supply chain. This is exactly where PACTA comes in.
A central platform for P2P processes
On average, more than ten different people have at least one point of contact with the life cycle of your procurement contracts. Those involved usually communicate independently of each other by e-mail or even in written correspondence. Individual transactions thus have to be forwarded, related, discussed and approved many times over.
PACTA enables you to implement your entire procure-to-pay process on a single platform and have it controlled by your legal department or other legal experts. PACTA maps the right workflows for each internal and external stakeholder:
Learn more about our Legal Operations Management for legal departments.
Learn more about our Contract Lifecycle Management for sales departments.
Automation of recurring processes
MSAs and vendor contracts are currently concluded within 76 days on average. However, the time needed to coordinate individual parameters with the vendor is often only a few hours. The real time wasters are trivial administrative and legal processes.
With PACTA, you can create perfectly formatted requisitions, RFPs, MSAs and terms and conditions of purchase in your corporate design within minutes. With AI analytics and on-demand workflows, you automate the digitisation of paper documents, releases and approvals, extraction and verification of contract data, deadline management and invoice verification.
Save an average of 41% of the working time spent over the entire life cycle of your vendor relationships.
Virtual assistance for analysis and monitoring
Manually searching through your documents and finding contract parameters, risks and deadlines is tedious and time-consuming.
PACTA brings your documents to life. Our artificial intelligence "Themis" analyses and extracts all relevant metadata and contractual deadlines for you. Check and monitor the timeliness, accuracy and plausibility of quotation, contract and invoice content with the help of "Themis" and let it remind you of terms, delivery/cancellation deadlines and subscription cycles.
This way you create audit reports and decision templates on average 31% faster than before and minimise your risks in the process.
Halve your coordination and negotiation time
You coordinate with your colleagues or vendors by means of endless e-mail chains and hundreds of comments and edit Word documents in mark-up mode and in circulation.
With PACTA you negotiate and edit offers, contracts and delivery conditions together with all parties in real time. In this way, you halve both the number of negotiation steps and your absolute negotiation time.
Legal certainty with maximum agility
In order to shorten the procurement process, you may individualise your legal content yourself and without legal experts. This often results in errors or ambiguous clauses.
With PACTA, your colleagues from the legal department provide you with a legal hub of automated processes and legally compliant forms on demand. If you want to exceed the set legal framework, you trigger a release loop with a mouse click so that your legal department or management can deal with these special cases.
In this way, you eliminate an average of 75% of the sources of error in legal documents and at the same time ensure maximum agility in your supply chain.
Sustainability and cost saving
Concluding contracts by signing, sending and returning paper documents by hand is not only time-consuming but also resource-intensive.
With the PACTA signature, you sign your documents within seconds instead of waiting an average of two weeks for a contract to be returned.
Protect the environment and save costs. For example, a mid-sized company would save an average of nearly 300,000 pages of paper, 4.3 tons of wood, and 1.5 tons of CO2 per year.
Compliance & streamlining of all clauses and legal texts
Legal changes, as in the case of the Supply Chain Act, as well as case law and supervisory regulations, have to be manually collected, evaluated, assigned to different clauses and entered into a multitude of individual documents.
With PACTA, you and your legal department keep track of all your clauses and legal texts at all times. Themis analyses your documents, recognises, extracts, categorises and names all your clauses so that you can compare, version and update them in one central place. PACTA then automatically optimises all forms with the desired changes for you.
Digitisation of your paper contracts
We understand that not all companies work with digital documents yet. The step to digitalisation is not always easy and often requires good change management. We have also thought about this problem and make this step as easy as possible for you.
PACTA comes with automated text recognition (OCR) software that automatically turns simple scans into readable PDF documents. So digitisation reaches you sooner and easier than you expect.
Collaboratively create, negotiate, digitally approve and sign demand notifications, RFPs, MSAs, vendor contracts, financing agreements, delivery notes and invoices, as well as analyse them in a data-driven manner and make them available across organisations. Optimise the entire lifecycle of your documents.
Automated Document Drafting
Cloud Storage & Organisation
Collaboration & Negotiation
PACTA Collaboration Room
Approval & Signatures
Monitoring & Reporting
Compliance & Streamlining
PACTA Clause Database
Minimise your workload to a few mouse clicks and manage more procurement volume in less working time. For example, your new PACTA workflow for your P2P processes could look like this:
Automated drafts of demand notifications, RFPs and terms and conditions of purchase perfectly formatted in your corporate design via mouse click
Approval of demand reports and RFPs by the management or your CFO via mouse click
Storage and automated access management of all documents, offers and delivery conditions in the PACTA Cloud
Automated notification of the responsible employees via e-mail or ping on PACTA
AI analysis of offers and delivery terms as well as automated deadline and data extraction with PACTA Analytics
Vendor selection and automated internal approval process
Automated drafts of MSAs, framework agreements and vendor contracts perfectly formatted in your corporate design via mouse click
Negotiate an MSA or vendor contract with all parties in real time in the PACTA Collaboration Room
Verifiable approval of individual negotiation steps by all sides via mouse click
eSignature of all required documents by all contracting parties
Automated tabular listing of all process steps, text editing of the process in an audit trail
Automated filing, analysis, negotiation, approval, and eSignature of (interim) financing agreements
Data-driven monitoring of all vendor relationships and contracts with PACTA Analytics
Automated filing, analysis, release and if necessary e-signature of delivery notes
Invoice receipt by e-mail and automated filing and access management in the PACTA Cloud
Automated invoice analysis and plausibility check as well as extraction of invoice data
If required, release of the invoices by the management or controlling department via mouse click
Continuous data-driven monitoring of your supply chain sourcing arrangements with PACTA Analytics
With PACTA you can scale your business even faster and more sustainably. Find out how and receive the first 5 PACTA signatures per month for free during the first year of your contract:
Our customers and partners trust in PACTA and our expertise.
"With PACTA, we can automate the creation of bond terms and conditions as well as investment and securities information sheets with a high degree of individualization. This gives us more time to structure investment and hedging concepts on a case-by-case basis and to advise our clients individually on financing issues."
"We operate one of the largest online law firms in Germany. PACTA is our technical basis with the help of which we can create and update our online contract forms in a scalable way. PACTA offers us a significant speed and efficiency advantage over our competitors. It enables us to offer all our consulting services at any time, on demand, with the highest quality and at fair prices. In addition, we gain more time for client support."
"By using PACTA, we were able to accelerate our digitization process in an uncomplicated and fast way. PACTA offers us the possibility to work even more efficiently and independent of location."
"Without PACTA, it is hardly conceivable that a consultation with a lawyer in a distant city could proceed in this way. As a company that offers digitization projects ourselves, we are very enthusiastic about the potential of PACTA."
What exactly is meant by document automation?
Senior Sales Professional
With PACTA, you can automate more than just the creation of contracts. Rather, with PACTA you can automate all your legal operations holistically. From upload to draft, approval, signature, data extraction and deadline management - with PACTA you automate the entire lifecycle of legal documents.
How does document analysis work?
For our automated extraction of relevant information from documents, we rely on state-of-the-art deep learning architectures. In the first step, a specially trained neural network recognizes important parts within a document. In the second step, our algorithms process this information into insightful findings. In the third step, the data is sorted and clearly presented on the platform.
How does automatic text recognition work for documents?
We achieve automated extraction of text from scans in two steps. First we use image processing algorithms to optimize the quality of the scans. Our customized deep learning model then detects existing text in the image with pixel precision and converts it into digital text. This makes scans searchable and eliminates the need to manually type out the text.