Overview upon all contracts

In order to obtain an overview of all important contracts in the company group, BASF AG decided to establish a world-wide contract database based on the Xcitec® software solution.

Together with BASF, Xcitec® developed a specific solution that enables BASF to store the contracts of all BASF companies worldwide in a centralized, intranet-based database. The database lists the most important information for each contract, such as contractual parties, contract type, product, term, location of original document etc.. Furthermore, the database contains the BASF-internal responsible persons for each contract. This enables targeted contract management. For example, reminders for action can be sent via automatically generated e-mail notifications to the person responsible.

Professional contract management provides BASF with a comprehensive overview of its entire contract pool and of significant contractual rights and obligations. For purchasing contracts, the high degree of usage and coverage can lead to the realization of considerable advantages.