Irrespective of your organization's size or type, contracts play a crucial role when it comes to keeping your business secure. Ever-growing number of contracts is a problem faced by growing organizations.
Is your Contract management system evolving along with your business? Or are you still managing contract requests, tracking status, renewal dates in spreadsheets and drives?? If your answer is yes, then its high time you switch to an automated contract management system. The benefits are countless!
The Contract management process is not only about managing contracts but also execution and analysis of the contracts with an aim to maximize operational and financial performance while reducing overall financial risks.
Essentially a contract goes through a life cycle with different stages:
- Initial request
- Legal generation
- Negotiation stage
- Approval process
- Execution stage for storing
- Search/report for the analysis of the contract
- Compliance stage for each party to hold up their end of the agreement
- Amend/review stage wherein the contract will need to lapse, renew, or renegotiate
With so many stages for a single contract, there is no doubt that an organization needs an effective Contract Life Cycle Management (CLM) system. It is an excellent method to manage your contracts right from the initial stage till the last stage in the cycle.
At Dock, we understand the importance of a contract management solution that can significantly increase operational efficiency and cost savings. Thus, we offer a full-featured solution built on SharePoint and Office 365 that streamlines your entire contract management process. Our solution helps you:
- Manage contract creation
- Send automatic notification alerts for renewals, deadlines, and expiring contracts
- Easily find critical contract details for business transactions
- Create auto-reminders and an audit trail to help you manage contractual responsibilities and important dates
- View your contract life cycle in real-time for updates, history, etc.
- Track changes with version control
- Integrate an e-Signature platform to allow workflow integration and accelerate the entire process
Never miss any deadline or lose new business opportunities with Dock 365-a clean and intuitive SharePoint Intranet Portal.
Schedule a free demo to know more !
Written by Sneha Gopal
She comes with 4 years of experience in content management and have worked with brands from the US and UK. An enthusiastic content crafter, she loves travelling and learning about new Microsoft Technologies.