Industry insights
As the operator of the largest hotel rating and booking portal in the German-speaking world, HolidayCheck has to manage some 2,000 active contract files for all companies in the Group. A single contract file can contain up to 50 expense and revenue agreements, as well as countless appendices. These complex and highly extensive contracts are subject to legal examination as well as data protection audits and taxation audits. Keeping an overview without missing any deadlines poses an immense challenge.
Baseline situation and task
Previously, the company had no central contract database that could be accessed outside the Contract Management department. In order to involve other coworkers in the Group in the contract handling and execution process, contractual documents had to be exchanged by e-mail in an unstructured format.
The responsible Contract Management department was being flooded with Groupwide requests for contract preparation and amendments. The operational administrative outlay was enormous. In addition, the company had no backup plan and no standardised approval processes in place, and also lacked an efficient deadline management system, including customised escalation steps in the event of non-compliance. To meet these challenges, HolidayCheck was looking for a user-friendly, flexibly adaptable solution for revision-secure and centralised contract management. The objective was to capture all contracts concluded by all companies belonging to the Group. Particular attention was devoted to reliable deadline management with a reminder feature and comprehensive reporting with an integrated approval process.
Structured contract management
Since December 2019, some 100 employees throughout the Group have been working with the cloudbased software Contracts. Contract management has been structured by company and includes a corresponding role and authorisation scheme. This framework clearly regulates who may view or edit each specific contract. The management can access all contracts, structured according to hierarchy and contract manager. This guarantees that a rapid overview of all contract files and the associated contracts in the Group is available at all times.
“Our aim was not only to establish a more efficient way of working by introducing a dedicated contract database, but also to support other departments by providing them with clearer rules to go with it. With Contracts, authorised employees throughout the Group can now view contracts independently and are also automatically reminded about compliance with obligations and deadlines. The goal of taking some of the burden off the Contract Management department while at the same time achieving greater efficiency in contractual matters for the Group has been realised,” explains Eliska Holl, Group Specialist Contract Management and Purchase Processes at HolidayCheck.
The advantages of Contracts
The intuitive user interface with customisable dashboards and clearly defined processes ensures efficient workflows and a clear overview. Contracts is used to file all contracts, structured according to contract partner,
contract type, and company. The “worklist”, a digital to-do list, shows all pending tasks. Automated reminders provide support for managing contract-specific notice periods.
Revisionsecure processes for balance sheet audits, data protection audits, and balance sheet evaluations in accordance with IFRS 16 ensure that all users involved in the process can securely view the contracts and edit them in line with their authorisation status. Every single change to an agreement, such as a contract renewal, is documented in a clear and traceable manner. A comprehensive (audit) report can be generated at the touch of a button, and users can define individual parameters, such as the contract value, for the evaluation. “Fabasoft’s contract management has fully satisfied our requirements”, confirms Holl. “We appreciate the high level of professionalism and rapid reaction time on the part of the Fabasoft team. This shows us beyond doubt that we have made the right decision,” Holl continues. “Contracts has enabled us to save an enormous amount of time both in the Contract Management department as well as in the other departments. We can define a proxy for each member of staff, who may likewise view and, where appropriate, edit the contract file.” Holl goes on to add, “Automatic reminders and escalation procedures ensure that staff from the various departments can take action on their own. This solution means that we have established a dynamic contract management system within the Group.”
About HolidayCheck
HolidayCheck AG operates the largest independent hotel rating and booking portal in the German-speaking world. On HolidayCheck, people can find a hotel to suit their needs, get in touch with others, and book their holiday directly. www.holidaycheck.de
