PALFINGER relies on Fabasoft Contracts for its digital contract management

1 June 2021

Rapid retrieval and processing thanks to central contract management

PALFINGER, the global market leader for cutting-edge crane and lifting solutions, is digitalizing its group-wide contract management with Fabasoft Contracts. The cloud-based solution makes everyday work with contracts much easier and saves valuable time.

Decentralized filing structures had markedly hampered the company’s ability to maintain an overview of the contracts. Ensuring transparency on an ongoing basis and complying reliably with all obligations demanded a great deal of effort on the part of the legal department. Thanks to Fabasoft Contracts, PALFINGER now has a standardized solution to centrally manage and monitor its group-wide contract portfolio. The cloud-based software enables process-centric administration and controlling for contracts. As an example, users can trace earlier contract versions with the help of the “Time Travel” feature. Semantic full-text search comes into play for speedy retrieval of contracts.

“The crucial factor in our product selection was the legal security that Fabasoft offers as a European cloud service provider. We were also able to implement the solution ourselves quickly, without needing consulting services. The high degree of automation makes our daily work much smoother. Since implementing the solution, we’ve saved considerable time searching for, viewing, and managing our contracts,” remarks Alexander Mestian, Data Privacy Officer at PALFINGER.

“Our collaboration with PALFINGER demonstrates that our products are the ideal foundation for implementing digitalization projects rapidly, without the need for a labor-intensive IT project,” confirms Andreas Dangl, Business Unit Executive for Cloud Service at Fabasoft.

Fabasoft Contracts

is a cloud-based contract management software for managing contracts centrally and transparently. Dashboards offer a consolidated view of contract-related content and the resulting rights and obligations. An automated deadline management system supports deadline compliance. The cloud solution leverages artificial intelligence to accelerate the digitalization of contract portfolios.

About PALFINGER AG

PALFINGER, an international technology and engineering company, is the world’s leading provider of pioneering crane and lifting solutions. With some 11,000 employees, 34 production sites, and a global sales and service network of around 5,000 support centers, PALFINGER guarantees immediate and optimal proximity to its customers. PALFINGER AG has been listed on the Vienna Stock Exchange since 1999 and generated revenue totaling EUR 1.53 billion in 2020.