Does your organization include multiple subsidiaries or foreign branches?
Where do you manage corporate governance, legally responsible persons, and their terms?
Do you need easy access to up-to-date company data and documents?
Do you have a centralized system to manage your company documents and information?
When is a Corporate information Management system needed?
When an organization has multiple subsidiaries or branches, it is vital from a corporate governance perspective to centralize and manage information around the entities and documents in a shared system. A large organization may have tens of legal entities: local and foreign subsidiaries, foreign branches or representative offices, and even associations and trusts.
The need for corporate information management and a centralized system is not unique to the private sector; public sector organizations, cities, or municipalities can benefit as well.
Should corporate and contract management systems be implemented together?
Commonly, organizations need to develop and manage corporate and contract management systems in a same system environment. When internal corporate management is in place, the group’s legal entities’ information works as a master data source in the contract management system.
What does corporate information management include?
Corporate information management system environments usually include necessary information, including the company, management, other legal representatives, and their terms. The corporate management system also includes basic corporate documents, e.g. extracts of the trade registry, articles of association, minutes, certificates, and other legal documents. Even if the corporate management system runs in a same system environment as your contract management system, the user access principles can be set according to your access policy to this information. This also aids also legal departments by providing this up-to-date information and documents throughout the organization.
Which organizations need corporate management?
A corporate management system environment can be implemented for organizations with just one legal unit or for large corporations with over a hundred subsidiaries. All organizations benefit from a corporate management system that simplifies processes surrounding updating company information and documents.
