10 Ways Contract Management Software Can Simplify Your Life
- All Industries
- Contract Management
If you’re still keeping your contracts in a filing cabinet, on a shared drive, or sending scanned copies of the final version via email, you’re not the only one. It’s amazing how many billion-dollar companies still rely on paper.
But that doesn’t mean there isn’t a better way. There is, with contract management software. Why not take a deep breath this New Year and decide to say “no more?” Your sanity, and your company’s bottom line, will thank you.
Here are 10 ways to simplify your life this year with contract management software:
1. Standardize Your Contracts
Stop recreating the proverbial wheel. With a contract management software tool you can choose from a library of templates and clauses to ensure consistent, contract text and clauses company-wide. Now you can put an end to NDAs spread across the company in six different versions.
2. Make Monitoring and Tracking Contract Changes Easy
No more worrying about version control. All text changes, whether they are internal or external, are redlined automatically and can be easily accepted or rejected.
3. Streamline Your Contract Approval Process
Stop wasting time trying to figure out who needs to review a contract and then chasing that person down. The approval workflow makes sure the right items are approved and recorded on time by the right people.
4. Store All Your Contracts in One Place
Say goodbye to tracking down contracts. A contract lifecycle management (CLM) tool with a contract repository is a convenient way to store contracts and related documents so stakeholders can access them securely and easily – from any part of the globe.
5. Set Automated Contract Alerts
Never worry about missing something important. Set custom alerts that appear in your email and never miss expiration dates or deliverable due dates again.
6. Find Your Contracts Faster
Don’t lose time searching for the right contracts. Find a contract by searching for a keyword or a phrase. You can even search attachments to a contract – for example, insurance certificates.
7. Take Advantage of E-signature Technology
Stop worrying about tracking down the VP for their John Hancock. It only takes a few minutes and works just like a physical signature.
8. Simplify Your Contract Negotiation Process
Graduate from printing and scanning PDFs. Contract revisions can go back and forth between you and your client via email.
9. Integrate with your ERP
No more manually moving data. Our contract management software can operate as a standalone tool or plug into your ERP to sync with master customer lists, vendor lists and users.
10. Save time and money!
Don’t waste time manually completing tasks you can automate. One customer realized a 50 percent improvement in contract cycle time from automation.