Many industry reports have cited that billions can be lost in missed savings opportunities due to ineffective Contract Management. A contract management system is a great way to managing and tracking your contracts lifecycle. An advanced tool in this space is essential to achieve success with companies looking to launch new products, expand into new geographies globally, hiring top talent, merging or acquiring companies and striking new partnerships.
Most businesses have one common problem – they all use either physical contracts or else contracts sitting on individual laptops or their employees. In such cases, finding the right versions of the contracts could be difficult and time consuming. It could also lead to compliance issues if the right documents are not produced at the right time and could cost the companies big costs and legal hassles. What these businesses need is a central unified repository of all contracts with workflow automation for managing the contracts right from drafting to signing and tracking any future updates. Our Contract Management Software and System provides all this and much more.
Key Business Benefits
Increase Productivity : Our software makes it easy with all your tasks in one place so you can finish your tasks faster and focus on value-creating tasks rather than mundane document processing tasks.
Improve Quality : Improve the accuracy of your reviews through better workflows, peer reviews, quality checks with a trackable and auditable process, thereby mitigating human error.
Reduce Cost : Streamline and automate your workflows, get intelligent analytics, save on penalties due to errors & non-compliance – these are just some of the ways in which you can reduce cost of contract management.
Keep it Safe & Secure : Our centralised repository with access control on the cloud helps you manage the sensitive records without any leaks or breaches in a world where remote working is a norm.
Access Information Easily & Quickly : Get any document that you need on your fingertips. Easily search information through keywords and properly organized documents with version control in folder structures.
Manage Risk and Compliance : Share the workload without losing control by involving more team members while staying compliant. Stay error-free by routing the right contracts to the right people at the right time.
Key Solution Components
Contract Repository : The unified repository of all contracts on the cloud provides various features
Provides a complete overview and summary of all your contracts in the organisation.
Helps you index and file your contracts with keyword phrases along with other relevant records linked to the contracts.
Easily seek, locate and retrieve your contracts by category, branch, commercial enterprise, accomplice or your custom houses.
See and maintain your monetary terms, fees that are due and revenue potential for every agreement.
Upload your contracts as a record or hyperlink to a document within your personal network or cloud solution.
Manage the complete lifecycle of your contracts such as all amendments and changes.
Events & Reminders : Every contract has its own unique lifecycle with no two contracts being the same. In this complex world of contracts, tracking activities, milestones and deadlines is no mean task. Our software application offers you everything that you need to manage all the associated events of your contracts and reminds you proactively to act at the right time.
Register activities, e.g. For upcoming renewals or terminations.
Assign the duties and occasions to customers.
Automated reminders are despatched to assigned customers and relevant stake holders.
Keep track of open tasks.
Reporting & Dashboards : Reports, dashboards and overviews offer you with all of your applicable agreement records.
Broad monetary reporting and insights into your costs and revenues over time.
Upcoming activities and notifications.
Insights into your contract portfolio.
Latest agreement additions.
Business Partners Master : The business partner module ensures all your business partners and contact persons are in one place.
Information about all internal and external contract events.
All information and data on contracts and activities associated with a positive business partner.