With over a thousand contracts in ten countries, contract management is strategically important for the pharmaceutical company Abacus Medicine. This is how they handle IFRS 16 leases and other contracts in a company with more than €1.2 billion in revenue.
Louise Saugmann Neiiendam, Legal Operations Coordinator at Abacus, is responsible for managing the company's extensive portfolio of contracts across multiple countries. Here, she shares how having Complete Control as the company one “contract truth” supports daily management.
Abacus Medicine is a Danish company founded in 2004 by Flemming Wagner and his father, John Wagner. The company specializes in the parallel import of prescription drugs in Europe.
For Abacus, the implementation of Complete Control supports better oversight, greater control, and a more efficient workday. The solution enables proactive work, reduces the risk of unwanted renewals, and frees up time for other tasks.
“A contract must be accessible when you need it. With Complete Control, we know where to look for contracts across the Group. It provides greater confidence and control in our contract work, enabling us to be more proactive in our daily operation,” says Louise.
Complexity demands control
Abacus is an international company with Danish roots that recently celebrated two decades of history. Operating in more than 10 countries, it handles contracts in several languages and under different jurisdictions. Louise Saugmann Neiiendam is responsible for contract management, a role that requires structure, systems, and good oversight:
“We manage everything from leasing agreements and distribution contracts to partnership agreements with suppliers and vendors. The contracts cover all aspects of keeping the company running,” Louise explains.
Before implementing Complete Control, contracts were stored in scattered files and local or paper-based folders. The lack of a centralized overview created complexity and uncertainty: Who was responsible for what? When should contracts be renegotiated? Where was the latest version of an agreement?
“It was time-consuming to locate contracts, and the risk of missing renewals or key details was high. Now we have one ‘contract truth.’ We know where every contract is stored, and we can trust it’s accurate. It sounds simple, but it’s a major improvement,” she says.
From paperwork to proactive control
For Abacus, the journey to better contract management has been about more than just implementing a new software. It has also been about changing how they work. Louise describes how Complete Control has contributed to a more proactive approach:
“In the past, we were often reactive. When a contract was about to expire, we had to scramble to find it. Now, the software notifies us well in advance of renewal dates, allowing us to plan much better. It gives us control, as we’re never uncertain about when we need to follow up on a contract. It gives us greater confidence and security.”
The software has also made cross-departmental collaboration easier. Louise highlights how role assignments have become clearer:
“When someone leaves or changes roles, it’s easy to update responsibilities in the system. I can quickly see who is responsible for which contracts, which creates security for both us and the rest of the organization.”
User-friendliness and practical features
As the system administrator at Abacus, Louise works closely with both users and the support team at House of Control. She describes how Complete Control has become an essential tool in her daily work:
“The software is user-friendly and provides the functionality we need. I use the reporting features to easily get an overview and identify contracts that need follow-up. Additionally, the software automatically alerts us to expirations and renewals, which is critical for avoiding costly oversights.”
Louise adds that while the interface is classic, it feels intuitive:
“The software keeps improving. I see that House of Control makes continuous updates that enhance the solution’s usability. This is important, especially for users who don’t work with the software daily. Not everyone knows all the features, but with a little help, like a quick screenshot or a brief explanation, they get up to speed quickly.”
Close collaboration and fast support
For Abacus, the collaboration with House of Control is key. Louise highlights Simon, the company’s Customer Success Manager, as a central figure in the process:
“Simon has been supporting me since I started at Abacus. He helped clean up the database and understand how the software works alongside our other systems. He’s always available, takes feedback seriously, and helps us optimize usage.”
She also praises the support team at House of Control:
“The support is quick and competent. I’m often in contact with Maren and Sølvi Anita, and they always provide fast and helpful answers. It’s reassuring to know help is available when we need it.”
She experiences the same high level of service when the finance department needs assistance with IFRS 16-related questions:
“Karl Oscar is both financially and technically skilled. He always resolves our finance department’s challenges, with a special knack for workarounds when needed,” Louise says.
Success is measured in oversight and control
What does success mean for Abacus in terms of contract management? For Louise, it comes down to one thing: control.
“Success is when someone asks for a contract, and we can find it immediately. When the software gives us an overview of what needs follow-up, we can work proactively instead of firefighting. That’s when contract management works as it should,” she says.
She adds that Complete Control has also contributed to a more strategic approach:
“With better control over our contracts, we can plan renegotiations well in advance, ensure we have the best agreements, and avoid unnecessary costs. This adds value both for those of us working with contracts and for the company as a whole.”
A complex organization with high demands
Today, Abacus is an international organization with approximately 1,500 employees operating in over 10 countries. Louise describes the company as one experiencing rapid growth, with increasing complexity and ever-greater demands for systems and structure:
“We are no longer just a startup. We’ve grown, and with that comes the need for more structure and oversight. Complete Control helps us manage this complexity, both across countries and departments.”
She explains that Abacus’ contracts are often extensive and varied:
“We have contracts in several languages – Danish, English, Dutch, Spanish, Hungarian, and so on. This requires a system that makes it easy to store, locate, and follow up on agreements, regardless of where they belong.”
She emphasizes that the collaboration with House of Control allows for discussions on requests and improvements:
“We’ve cleaned up the system and gained an understanding of how it integrates with our other systems in-house. Simon always takes feedback forward and helps us optimize usage. I feel heard, help is never far away, and I sense that House of Control is committed to developing the software in the right direction.”
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