Challenges

Contract chaos: decentralized filing, lack of transparency

Before ContractHero was introduced, contract management at Wire was highly fragmented: contracts were stored on different platforms—some even in private folders—without any central structure. The result: tedious search processes and considerable extra work for the finance and legal teams. In addition, contracts were often stored under inconsistent names, which made searching even more difficult. There was also a lack of overview of redundantly used tools: different departments used similar software in parallel, which led to avoidable additional costs.

Cost trap: missed deadlines and financial blindspots

A key problem was the lack of deadline management: notice periods were regularly overlooked, contracts were automatically renewed—and in some cases continued for years even though they had long since ceased to be used. This lack of transparency led to concrete financial losses. In one case, a superfluous contract caused annual costs of €15,000 over a period of three years. Without a central overview and automatic reminders, there was no basis for identifying and avoiding such expenses at an early stage.

Governance gap: Lack of responsibilities and audit pressure

In addition to operational hurdles, there was also a structural weakness: specialist departments had no direct access to their contracts - all inquiries were handled centrally by Finance or Legal. There was no documented roles and rights concept, which was particularly critical in the context of ISO certification. The consequences were noticeable during audits: uncertainty, additional work and avoidable risks.

Create structure: Central overview and quick contract search

To counteract the initial contract chaos, Wire has bundled all contracts centrally in ContractHero. The platform automatically reads documents and indexes them so that all relevant information is available quickly and precisely. Thanks to the powerful full-text search, contracts can now be found in seconds without having to rummage through countless documents. With contract analysis and document recognition, important contract details such as terms, notice periods or renewal clauses are automatically extracted. These functions enable Wire to quickly identify contracts and ensure that no relevant information is overlooked.

Regain control: Manage deadlines, reduce costs

One key advantage of ContractHero is its automatic deadline recognition feature. Notice periods, contract terms, and renewal clauses are reliably identified and directly linked to reminders. This ensures that no deadlines are missed and that the company can act proactively before contracts are automatically renewed. Assigning responsibility for contracts to the relevant departments—such as HR, marketing, or engineering —ensures that each department fulfills its responsibilities. "I notify the departments in good time that a contract is due to be renewed in three months. Then they can check whether that is what they want," says Maria, describing the new process. Thanks to this transparency, Wire was able to identify and terminate unnecessary contracts.

Strengthening governance: clear roles, full transparency

ContractHero also impressed Wire with its rights and role management, which allows precise control over who can view or edit which contracts. This is particularly important in terms of ISO certification and compliance, as it ensures that only authorized persons can access certain contract data. With the ability to delegate tasks directly to employees via the system, clear ownership structures can be created so that each department takes responsibility for its contracts. "I give ownership to the line managers, but I keep track of everything," says Maria, describing the new process.

The export functions for audits and ISO-compliant documentation make it easier for Wire to conduct external audits more efficiently and ensure compliance with security standards. The security standards guaranteed by ContractHero include ISO/IEC 27001 certification, GDPR compliance, and hosting of all data exclusively in the EU. This ensures that all sensitive contract data is protected with the highest security measures.

Over €30,000 savings through contract review, adjustment and termination

This improved structure also enabled Wire to identify and terminate unnecessary contracts. For example, a contract costing €15,000 per year was terminated, saving a significant amount of money. By automatically identifying deadlines and clearly assigning responsibilities to the relevant departments, Wire was also able to prevent contracts from being extended unnecessarily, resulting in further savings. For example, Maria states that around three percent of costs were saved.

95% time saving in the contract search

By implementing ContractHero, Wire was able to drastically reduce the time spent searching for contracts. Today, this entire process - from logging in to finding the desired document - takes only seconds, which is 95% faster than before. This significant time saving allows the team to focus on other tasks and work more efficiently while increasing the reliability of contract searches.

98 % of contracts in the system

Another remarkable result was the dramatic improvement in contract coverage. Before the introduction of ContractHero, only around 35% of contracts were centrally recorded in the system. Today it is 98%, which leads to a much better overview and control.

ISO-compliant: 100% secure management with clear roles and full transparency

The introduction of ContractHero has not only helped Wire to optimize its processes, but has also helped to further strengthen the company's security standards. Particularly with regard to ISO certification and compliance requirements, ContractHero enables precise assignment of access rights. This ensures that only authorized persons have access to sensitive contract data, which enables Wire to meet the high security requirements.

Conclusion: More than just contract management

With ContractHero, Wire has not only digitized and centralized its contract management, but also significantly increased efficiency and transparency - and thus, as Maria emphasizes, "created the basis for being able to scale at all." Automated processes, structured deadline management and clear responsibilities have helped the company to find contracts more quickly and avoid unnecessary costs. Wire shows that digital contract management is far more than just an administrative task. It is a strategic tool that increases efficiency, reduces costs and provides greater security at the same time. ContractHero offers a powerful solution for companies that not only want to manage their contracts, but also optimize them.