Your business critical documents such as contracts and regulations are complex. This complexity represents a real and significant risk to not only the organisation, but to the reputation and personal liability of those responsible for compliance. The risk of misinterpretation, the loss of corporate knowledge, instances of non-conformance or late conformance, and inefficiencies have for too long been treated as being part and parcel of business. The result is your organisation and/or your staff operating at a sub-optimal level and the value of these documents is not adequately protected.
To date, organisations have been forced to attempt to understand and manage this complexity using traditional, pre-web technology (namely, MS Word and PDF documents). As a result, organisations and their staff are hamstrung in their ability to extract maximum value from their contracts, and are not confidently on top of their obligations. The financial, regulatory and reputational implications are significant.
While complex contracts and regulations underpin government business in every area, a much publicised example is PFIs. There are currently more than 700 operational PFI contracts in place in the UK, with a capital value of £57 billion. Over the next 10 years, over 200 PFIs will expire. The NAO, Local Partnerships and the Scottish Futures Trust all highlight the importance of having up-to-date versions of the contracts, building on the NAO’s earlier observations that ‘systems for maintaining up-to-date versions of contracts remain weak’, and ‘we have yet to see a system that shows departments their current contracts including all changes’.
Affinitext resolves these long expressed weaknesses and concerns.
Thrive in complexity with Affinitext! Affinitext’s Intelligent Document Format (IDF) transforms the ease of finding, understanding and managing up-to-date versions of complex contracts and regulations; securely, intelligently and collaboratively. The unique features of IDF include:
We convert your documents into IDF which provides next generation, tablet-friendly screen navigation of all documents which includes pop-up definitions and 100% hyperlinking of all clause-to-clause references or other linkages within and between documents.
IDF documents provide you with an unrivalled search functionality, enabling you to instantly pinpoint relevant information within and across your projects, departments and organisations.
Amendments / Variations
IDF documents are always up-to-date and are the “single source of truth” for all parties and their advisers, etc. Access the amending history via the “A” icon.
Instantly identify your rights and obligations across your business critical documents and manage them in real time.
For PFI handback, for example, Affinitext makes it easy to extract handback provisions in minutes at your desk and ensure that projects are managed and returned to public ownership in accordance with the contract.
Based on the principle of “Trust but Verify”, the Task Module sends “In Time” automated emails to the responsible person(s) from the applicable clause, providing information and reminders. Once a task is complete, the compliance bundle is attached to the clause thereby ensuring that compliance and audit requirements are met. The status of all tasks across the portfolio can be accessed instantly with comprehensive reporting and dashboard analysis.
Don't have the time, money or resource to undertake a thorough review of your contracts and other key business documents? Not confident that you are currently on top of your rights and obligations? No stress, we'll do it for you. Engage our expert team to identify, review and populate your tasks for and on your behalf. There is now no excuse for non-compliance.
Capturing and sharing knowledge
Capture and share knowledge on a secure, permissions basis against the paragraph to which it relates. Personal knowledge = corporate knowledge. Information is pushed to users as and when they need it.
Collaborate (on a permissions basis) with stakeholders, advisors, etc. Be informed. Be consistent. Be streamlined. Be an industry leader. Walk the talk of collaborative working in accordance with ISO 44001!
Affinitext is redefining the industry standard for contract management: sleep easy at night, perform better during the day.