6 Reasons Why You Need a SharePoint-Based Contract Repository

Topics: Contract Management Software, Contract Repository, Centralized Contract Repository, Repository

Written by Lindsey Paulk

Are you tired of spending countless time trying to find specific contracts, clauses, or other critical information?

Do you have an organized contract storage system where you could pull data from months or even several years ago? What would that process look like when searching for that information? How long would it take?

Is your current contract storage system organized and efficient? Does it promote growth and the scaling of your business? Will your current contract storage system work for the long-term?

If your company consistently works with a high-volume of contracts, it’s likely you’ve encountered the regular time-wasting bottleneck of manual contract and clause searches.

By adopting a SharePoint-based centralized contract repository, you can increase visibility, efficiency, and organization in your contract management process. Leveraging all that a contract repository has to offer will not only improve contract storage but will also offer ways to improve day-to-day business operations and business-vendor relationships.

 

6 Reasons Why You Need A Centralized Contract Repository

Let’s discuss 6 key reasons why implementing a centralized contract repository will seriously benefit your business.

 

  1. Readily available contract data and information

With a centralized contract repository, you can conduct simplified, filtered searches for contracts, clauses, and other information. With our Dock 365 Contract Management System, you can create customized filters tailored towards regularly used searches. Our software solution is SharePoint and Office 365-based, where the repository itself is SharePoint the contract repository platform. SharePoint specifically offers several features and tools that make managing a contract repository effortless. Using our the search functionality provided by SharePoint, you can find whatever you need in a matter of minutes. We will discuss more regarding the capabilities of SharePoint near the end.

Because the contract repository included in our system is cloud-based, you get to save both time and resources. With a cloud-based contract repository, you can access any data at any time, anywhere. Now, you no longer have to spend time manually sifting through data or monitoring compliance. With cloud storage, all of your business’s contract data is secure and within reach.

Make contract tracking and analyzing trends effortless by switching to a cloud-based, centralized contract repository.

 

  1. Better Communication

When working with various clients and vendors, having a centralized contract repository will actually help improve communications. Because your business works with many contracts and many parties, its important to streamline where possible. A centralized contract repository will enhance organization while creating a more accurate storage, search, and management process.

Without a centralized repository, you risk missing critical details or losing contracts entirely when it’s preventable. You’ll never miss important deadlines or misconstrue data and details with the help of a repository. The impact of a disorganized contract management storage system can be tremendous – leading to dissatisfied and angry clients and vendors. You also run the risk of breaking code, facing various penalties, and being noncompliant.

Gain control, insight, and visibility with a centralized contract repository. With the user-friendly dashboard provided in a contract repository, all contract information is available in plain view. In this way, you can find errors that exist and make adaptive changes quickly. Our contract repository additionally allows you to set automated reminders and notifications for dates and deadlines.

A contract repository can offer your business some amazing benefits. Your contract management team will be equipped with tools to communicate accurately and dependably with clients and vendors. You will improve response times and be able to pinpoint any errors and address issues effectively.

 

  1. Maximized security of contract data

Our contract management system is integrated with the Sertifi eSignature solution. All signatures and other contract-based data are kept under high security measures in a centralized contract repository. In this way, your clients’ private information is kept confidential.

Enable or disable access to specific data for select individuals in your company as needed. Additionally, a well-designed contract repository uses encrypted data to keep all information protected. With our Dock 365 Contract Management System, you can ensure that your contract management team, clients, and vendors are well-informed of all necessary information at all times without sacrificing data security.

There is nothing worse for your business than a breach of security – especially when it could’ve possibly been prevented. Keep clients confident, and everything safe and secure with a repository.

 

  1. Improve client satisfaction

A contract repository will increase the time-efficiency and productivity of individual contract lifecycles. In this way, you increase the value of your business by providing faster turnaround times. Increase client satisfaction with rapid and accurate fulfillment that will consistently keep your customers returning for your services.

By giving your customers repeated, high-quality performance in contract management, you’ll exceed their expectations and boost your business’s reputation indirectly. With quality service, comes quality results. A centralized contract management repository will only help your business scale!

 

  1. Boost integrity

With a centralized contract repository, you can increase the integrity of data. With our contract management system, you reduce the issues encountered by low data quality. Our software allows for tracking of all iterations and changes of information and documents. Contract storage is made simple and organized so you never have to worry about missing critical pieces of information or conducting manual data backups.

 

  1. Increase accuracy with automation

Human error is one of the largest areas for potential discrepancies that you will encounter during contract life cycle management. By entering data manually into spreadsheets, errors are bound to occur. Small errors can lead to large impacts business-wide.

What could human error cause in my business?

  • Reduced mastery of contract obligations
  • Missed renewals and deadlines
  • Misinformed business decisions
  • Inaccuracies in various reviews and reports

The Dock 365 Contract Management System offers a centralized contract repository that can automate data entry. In this way, your contract management team can work with a consistent user interface and eliminate human error – giving you and your stakeholders more confidence in the data storage, security, and accuracy of your contract repository.

Features of the SharePoint Contract Management User Interface and Repository

  • Manage, edit, and create contracts
  • Set automated notifications, alerts, and reminders
  • Use filtered search capabilities to find contracts, contract details, and clauses
  • Employ audit trails
  • Oversee contract lifecycles
  • Archive contracts and related documents
  • Track changes
  • Utilize e-signature integrations to create efficiency and streamline the signing process

SharePoint is a phenomenal contract repository platform. In SharePoint, you can effectively store all contracts, documents, deadlines, obligations, profiles, milestones, and more in a centralized location. Your contract and legal teams will love the ease of use of the search and filtering function in the SharePoint repository.

 

Conclusion

Do you have a centralized contract repository? If not, you are certainly leaving some incredible benefits on the table. Our Dock 365 Contract Management System will help you store, manage, and create contracts so you can streamline, optimize, and achieve business results.

With readily available data, improved communication, maximized security, enhanced client satisfaction, increased integrity, and higher levels of accuracy, you can make great strides in your contract management processes today.

Our contract management software was created with your business needs and goals in mind so you can up-level your business strategy and increase the value of your experiences with clients and vendors alike.

To learn more about how Dock 365 can improve your contract management processes with our SharePoint-based, centralized contract repository feature, click here and schedule a free demo today.

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