Managing Contracts Commitments and Obligations – in Your Natural Working Environment

Generica Contracts manages the entire contract commitments and obligations lifecycle with an automated platform that creates , reviews and approves contracts, commitments and obligations tracks and reports on ongoing contract compliance within the natural working environment –MS Word, MS Excel and PDF. Generica Contracts adapts to your requirements and processes so that contract managers don’t have to master complex new procedures.

Any contract term can be identified as a commitment, risk, option, renewal, milestone or other actionable item using KCS innovative technology called Electronic Smart Objects. Without leaving the contract document, contract managers can create and manage these objects just like database entries – with descriptive data, due dates, responsible parties and more, available right in the contract dashboard.
New contracts can quickly and easily be created with accuracy and consistency. Working within MS Word, you can import relevant, up-to-date standard terms and clauses from the standard terms repository into the contract draft.

Whether authored by your organization or counterparty, draft terms are easily turned into Smart Objects and automatically routed to reviewers for their approval or comment. Ongoing progress can be tracked in the Generica Contracts dashboard to ensure that commitments, milestones and risks are managed in a timely manner. Generica Contracts can also send reminders to begin the renewal cycle.

When amendments are created, amended terms can be highlighted, linked to the original commitments, and automatically distributed for review, approval, and tracking in dashboards. Later, managers can track the evolution of a term or commitment across its entire lifecycle.

List of Modules

• Contracts Compliance
• Commitments Management
• Contracts Risk & Options Management
• IP Management

Features

Electronic Smart Objects

Generica Contracts is based on KCS’ “Electronic Smart Objects” technology that enables users to convert “dumb” text into Smart Objects within the original Word, Excel, PDF or Email document. All features and capabilities can be executed from the document or from the central management system. Without leaving the original files, Generica Contracts allows users to track, view, and execute all the findings, decisions, and recommendations – internal or external – included in a contract. Generica Contracts then enables them to be implemented efficiently while being fully controlled throughout the process. This capability reduces overhead, saves time, helps avoid mistakes, and ensures that the contract draft is always up-to-date.

Flexibility – An Off-of-the Shelf Product with Tailor Made Customization

Generica Contracts allows for a quick and easy tailoring of its processes which results in both short and long term savings. You can support existing processes or install a completely new system – Generica Contracts allows you to use your legacy system, while smoothly transitioning to Generica Contracts. Implementations are conducted by highly experienced and professional teams, including leading advisory services firms that analyze the organization processes and needs, recommend improvements, and implement accordingly.

Adaptability – Manage Contracts on a Global Basis

Generica Contracts customers typically expand the use of KCS’ solutions to cover other vital organizational activities. KCS’ solutions can be used locally or across a global organization. This means significant savings on hardware and software costs, IT overhead, operational simplicity, training, and updates.

Easy Integration with Third Party Systems

The entire customization process is completed while using minimal time and resources from you and your team. We employ an iterative-prototyping process, in which most of the work is done off-site, on our server. After only two or three iterations, the design is complete and we are ready to  install on-site, deploy, train and launch.

Why you should use Generica Contracts?

Easy Deployment

• Short and easy learning curve – no need to navigate unfamiliar sequences of pre-defined UI screens
• Saves time and money on training of employees and consultants

Ease of Use

• Conduct and manage contract processes in the natural working environment where they are the most comfortable– Email, MS Word, and MS Excel
• No duplication of efforts – all notes, reviews, procedures, responses, and reports can be done within the original documents
• Maintain process document templates for any key organizational process that allow for one-click inclusion of all up-to-date risks

Strong Tracking and Reporting Capabilities

• Contract project progress and results can be easily tracked in real time
• All relevant portions of an contract are automatically sent to the relevant manager
• Generica Contracts allows annual project planning, resource allocation and budget Vs. actual reporting
• Generica Contracts ensures that all associated organizational risks are properly included as part of the planning and documentation of the process
• Generica Contracts ensures compliance, renewals, commitments management, etc.
• Simple tracking of response status
• Significant reduction in project completion time