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20% less contract costs, 25% more accurate financial planning. Find out how MMB Velbert used ContractHero to identify unused contracts, reduce expenditure and put their financial planning on a sound, data-driven basis. By integrating with Power BI, structuring contract data and automating deadline control, contract management became a lever for transparency, controllability and effective liquidity management.
MMB - Maschinen, Montage & Betriebsmitteltechnik GmbH - based in Velbert, Germany, has been developing customized special machines, test stations and assembly systems for customers from a wide range of industries - from automotive to medical technology - for over 25 years.
As a project-driven company, MMB relies on reliable processes, transparency and data relevant to management. This is precisely why contract management was fully digitalized with ContractHero at the end of 2023 - and deeply integrated into the existing Power BI landscape.
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Before the introduction of ContractHero, contracts were physically stored in different folders and locations. This made searching for documents, deadlines or contact persons considerably more difficult. Information often had to be compiled manually.
"'Where are the contracts?' - this question came up far too often. With filing at different locations and a lack of structure, it was clear that we needed a central solution, otherwise we would lose time and overview."
Contracts were managed using Excel lists. Despite regular maintenance, they were prone to errors and offered no automatic updates or links to other data sources. They were therefore only ever as up-to-date as the last manual entry. The effort involved was high, the flexibility low - a risk in project-based day-to-day business.
Contract terms, notice periods or automatic renewals could easily be overlooked - which in some cases had financial consequences. Responsibilities were not clearly defined and reminders depended on individuals.
One of the biggest pain points: a lack of overview of contractually bound costs. Which contracts cause ongoing expenses? Which ones can be optimized or terminated? Without a central database, reliable liquidity planning was hardly possible.
With ContractHero, MMB manages all contracts digitally and centrally via a cloud-based platform. Full-text search, central storage and structured recording make the previously scattered contract landscape accessible at any time and from any location - whether on a desktop in the office or on a tablet in production. The tool also meets high security requirements: ContractHero - as well as the data centers used - is ISO 27001 certified. All data is transmitted in encrypted form and hosted within Germany in compliance with the GDPR.
Structured storage is a key element: MMB can use ContractHero's modular system to define its own data fields - for example for project numbers, contact persons or time quotas - without any programming effort. This means that contracts are not only stored, but can also be used in a specific context.
"We configured and customized ContractHero so that it fits our requirements perfectly."
Automated workflows analyze contracts directly during upload, extract relevant information and store it in a structured manner. MMB uses these functions to minimize manual work steps: Contract data is captured automatically, while import and export functions ensure seamless system integration. This saves the team time - and reduces transmission errors.
ContractHero automatically recognizes all relevant deadlines - from termination dates to renewal cycles - and converts them into specific tasks with deadlines. Responsibilities can be clearly assigned thanks to the integrated rights and role management.
Leon Jakupi and his team receive automatic notifications by email or directly in the platform. This means that critical deadlines are always kept in view - and decisions such as canceling, extending or renegotiating can be made early and on a sound basis. This automation is a decisive advantage, especially in the dynamic project business: it takes the pressure off administration and at the same time protects against costly omissions.
The greatest leverage for MMB lies in the integration of ContractHero into the existing Power BI landscape. Contract data is synchronized in real time via API and is immediately available for reporting.
Insights at the touch of a button
The data flows automatically into interactive dashboards that have been specially designed for liquidity management. They enable: Monthly, quarterly and annual cost overviews, categorization by contract partner and cost type, drill-down to contract level, including payment modalities, filtering by time periods, amounts and responsibilities.
"I wanted to know what my monthly income and expenses were - both at a glance and in detail. The ability to filter flexibly and drill down into individual contracts was crucial for me."
Simulation-based planning
Theintegration of ContractHero in Power BI allows MMB to dynamically run through possible changes - such as contract terms or price adjustments - and analyze their effects. The contract data supplied by ContractHero forms the basis for simulation-based evaluations and well-founded, forward-looking decisions.
Linkwith operational data
Thanks tothe structured contract data from ContractHero and its connection to Power BI, this information can be linked with project-related time recording data. This allows MMB to set the use of resources directly in relation to contractual obligations - and recognize how projects are running economically and where there is potential for optimization.
One of the most important findings after the introduction of ContractHero was that many current contracts were causing unnecessary expenditure. With the new overview, MMB was able to specifically analyze which contracts were really necessary - and act accordingly. Contracts were shortened, paused or renegotiated - not on instinct, but on the basis of sound data. In total, around 20 % of running costs were saved.
"We were able to adjust many contracts, renegotiate them or terminate them altogether - this immediately resulted in noticeable savings."
What used to be spread across several folders, Excel lists and different responsibilities is now completely digitalized. Over 570 contracts - including deadlines, contact persons and cost structures - are recorded centrally and available at the touch of a button. For the first time, MMB now has a complete, structured overview of contracts - a plus in transparency, which Leon says is crucial in everyday life: "When a decision has to be made today, I can find the relevant information in seconds - without having to search for a long time or ask questions."
In addition to clarity, efficiency in day-to-day business has also improved noticeably. Deadlines and tasks are automatically recognized and assigned, eliminating the need for manual maintenance. The administrative workload has been reduced by around 30% as a result - time that is now available in the team for more important tasks.
The link with Power BI has a particularly strong impact. Contract data flows automatically into reporting and can be analyzed there in detail - for example by cost type, contract partner or time period. MMB has also been able to significantly optimize its financial planning through drill-downs and the link to project-related performance data. The accuracy of liquidity forecasts is now around 25% higher than before the introduction - a noticeable improvement in an economically challenging environment.
"The combination of ContractHero and Power BI has completely changed our reporting - we now plan 25 percent more precisely and can react to changes much faster."
MMB Maschinenbau has developed contract management from an administrative task into a strategic management tool. ContractHero forms the digital basis for this - with a central data structure, automated processes and deep integration in Power BI. Contract data is no longer isolated, but flows directly into financial planning, enabling well-founded decisions and creating new transparency about costs, deadlines and responsibilities.
In conjunction with reporting in Power BI, ContractHero makes a decisive contribution to improving liquidity management - through real-time analyses, more precise forecasts and the ability to simulate developments at an early stage. Contract data thus becomes a planning-relevant resource and creates measurable added value in terms of efficiency, controllability and profitability.
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