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Small Business Contract Management Software

It is a common mistake to think that contract management software is only for enterprise organizations. Small businesses stand to gain the same number of advantages from digital contract management tools as any large enterprise. The primary objective for companies to be investing in a business contract management software is to simplify the contract management process. Small businesses which are operating with minimal personnel might find it hard to manage the contracts. By "manage", I am referring to knowing all the details of all the contracts in the business operations of a company.  A digital contract management tool can simplify and streamline that management process.

How to Create a Free Contract Template in 20 Minutes

There are several free contract template resources online. Some of the free contract template brands include:

Encryption:  Data in Transit vs Data at Rest

The Advanced Encryption Standard (AES), also known as Rijndael (AES author’s name), has been the standard level of encryption since 2001. Encryption works by a series of steps. User data is called plaintext, which is not encrypted. AES is applied to plaintext to transform plaintext into ciphertext, which is encrypted. The AES encryption process uses “keys” to transform data from plaintext to ciphertext, and from ciphertext to plaintext.

How to Search in Microsoft Teams Effectively

Ever since search engines became popular, searching online to learn is an important functionality. For all platforms and solutions, a search option is a must. People expect websites to include a search box. Search functionality using a search box is much more effective than scrolling and navigating through folders. It saves time and reduces the difficulty. Being a very popular collaboration and communication platform in modern workplaces, Microsoft Teams search is a hot topic. According to Microsoft 365 Corporate Vice President – Jeff Teper, Microsoft Teams consists of 145 Million Daily Active Users. Increased number of users means 10 times more searches. Understanding the demand and high expectations, Microsoft managed to make the search process easier and advanced in Teams. In this blog, we will explain how to search in Microsoft Teams effectively.

Contract Management Software Myths

Contract management software (CMS) is a centralized system to house all contract-related activities.

How Businesses Can Gain More from Digital Contract in 2021

Digital contract management simply is a software alternative to your contract management strategies. Digital contract management brings together all of an organization's contracts into a single platform, making contract management an easy task. Good contract management is the catalyst for a successful and growing business.

Digital Contract Management Process

Digital contract management begins during the lead generation component of the sales process.  Enter each lead into the digital contract management system as a unique entity.  Then, as contracts are created from those leads, link all contracts from the same lead through the use of associated contracts.  This is a feature within a digital contract management system. 

Choosing a digital contract management helps to organize all vendor and customer relationships in the supply chain.  Being organized improves the reputation of an organization.  Having good business relationships sure will pay off for your company.

Digital contract management includes an electronic signature feature and automated workflows to make the contract processes fast and streamlined.

Contract Templates Defined

Birth of Contract Templates

Contracts are subjective to a specific selling party or parties and a specific buying party or parties. However, certain industries use the same format for contracts repeatedly. An example is a real estate transaction. The buyer is a unique name(s), as well as the seller. While the property address is unique from contract to contract, the terms are likely the same from one house purchase to another, or from one office lease to another. This is how the birth of contract templates occurred.

Contract Management Defined

Contract management is a complex process involving many moving parts. A contract is created, then approved by the sending party, then negotiated or approved by the receiving party. Each step in the contract process, or stage, is known as a workflow stage. Workflow stages are conditions that contain tasks that must be performed for a contract to be signed by all parties. Workflow stages can be the responsibility of either the sending party or the receiving party or all parties.

A Guide to Online Contract Signing

A contract is only valid when all parties involved signs the agreement. Only with a valid signature does a contract have legal standing. Many contracts involve negotiations before signatures.  At a time when minimizing human interaction is of great importance due to Covid, contract negotiations face-to-face amongst parties and contract signing on physical paper with ink becomes a lot harder for all parties. A solution is to digitize the contract negotiation and signing processes to completely take place on a virtual platform.

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