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Blika launches a Contract Management solution on its Legal platform

22 February, 2018

Blika Platform

Contract Management
The Blika legal platform has support for legal entity management, keeping track of the present and historical legal ownership structure, automatically drawing of customizable visual charts, keeping track of associated persons, keeping track of transactions and the underlying documentation, minority interests and related information, documents and legal risks.

Blika is pleased to announce the launch of a Contract Management solution. Since the solution is an integrated part of the Blika platform it is much more powerful than a stand-alone contract management solution. Some examples of this are:

  • Blika contract management will be a natural integrated part of the overall information gathering process in a legal department
  • The contract management solution could be used on all levels, e.g. HQ, country or divisional levels as a separate contract management solution. Only 1 solution is needed for the entire group
  • The possibility to find all contracts and subcontracts for all companies which have been sold, merged or liquidated
  • The possibility to find all contracts and subcontracts signed by external parties for companies which have been acquired externally
  • Minimized administration as both systems can be managed from the same platform using the same administrator tools
  • An already present up to date and quality-controlled entity structure minimizes the need for double entry of data
  • The possibility to use an already existing workflow process, i.e. if people are responsible for one task they can be appointed to complete another task easily
  • Integration will give you the current name of an old company name mentioned in a contract
  • Automatic warnings if a company is made dormant or is in liquidation, but still has contracts in force

Features

The Contract Management solution is a powerful tool to keep track of all internal and external contracts in force as well as expired contracts. The solution allows you to monitor contracts, keep track of action items per contract, appoint responsible people and many more functions for managing and storing your contracts. Some of the functions include:

  • User friendly SaaS solution
  • Integrate with external systems such as Sharepoint
  • Automatic import and validation of contracts
  • Advanced access rights system
  • Keeps track of action dates and automatically sends out reminders to responsible people
  • Includes advanced search functionality and calendar
  • Is possible to customize the module to meet specific customer requirements

By using the full strength of the platform, a modern legal department will have a powerful tool to set up processes which will facilitate the collection, structuring, storage and analysis of numbers, documents, contracts, text and the connection between the different data points. By using Blika, you will be able to replace manual processes such as email and Excel.

But, it is not only the Legal department that could benefit from using the Blika platform. The Tax department could benefit too, by adding their own modules and utilizing the quality-controlled entity data which is already present in the solution. Some of the available modules include BEPS 13 Country by Country reporting, Tax Risk/IFRIC 23 and the Local/Master file management module.