Digital contract management software for GDPR-compliant processes at FEIN
Initial situation
On 28 December 2022, new EU data protection regulations came into force for businesses. These regulations require a data processing agreement (DPA) to be concluded with every intermediary and customer. In addition to general details about the intermediary, this DPA also includes information on data protection measures and other relevant details.
Our task was to develop the digital infrastructure for FEIN to facilitate the signing of the Data Processing Agreement (DPA) for its more than 16,000 distributors worldwide. We were immediately faced with several challenges. Firstly, we had to draft the contracts for a wide variety of countries and, in addition to providing two language versions, ensure compliance with country-specific legal requirements. Furthermore, not only did the provision of the contracts need to be clearly organised, but so too did the review and evaluation of the responses.
“This project was particularly exciting for us. Using the my.FEIN platform as a basis, we were able to set up a process that, despite the incredible number of parties involved in the contract, met the client’s exact requirements in a very short space of time.”
Alex Vanidestine
Head of Delivery
bbg bitbase group GmbH
Implementation
To quickly provide all resellers with the necessary contract, we used kameon GRC Contract to fully digitise the contract process. The my.FEIN dashboard was customised so that resellers were redirected to GRC immediately after logging in. We created contract templates based on EU regulations and imported the reseller data from the platform.
A country-specific data processing agreement (DPA) document was created for each retailer and closely coordinated with FEIN so that the company could inform its partners at an early stage.
Thanks to short coordination channels and agile project management, over 16,000 intermediaries were invited to sign the contract within a very short timeframe.
The result
Using my.FEIN as a central service platform, FEIN was able to quickly inform its more than 16,000 dealers about the new contractual arrangements. Thanks to GRC Contract, dealers were able to edit the contract digitally via a data room at any time, ask questions or make adjustments. kameon GRC allows the progress of the contract signing process to be tracked – from contracts that have already been signed to pending data entries. Finally, all signed contracts are archived directly in kameon GRC.
Outlook: Time-saving, legally compliant and transparent
Automated contract processing via GRC Contract has clearly demonstrated to FEIN the benefits of digital processes. At the same time, it has created a flexible platform that can be used to manage contract templates with customers and dealers, which can be expanded as required in the future. Further improvements, such as simplified contract review and change tracking, are already planned to make the process even more efficient.
Achieving more together
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