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This video demonstrates a contracts management system built on SharePoint Online and Power Automate, utilizing Microsoft 365 tools without requiring additional licenses. The presenter outlines features of the system, starting with the homepage before delving into the background operations. The system leverages SharePoint's document library functionalities, enabling users to upload documents and tag them with specific metadata. This metadata is crucial for the workflow engine, which automatically sends reminders for contracts nearing expiration and those that have already expired. Each document is tagged with essential information, including the supplier and the internal contract owner at the organization.