How to use SharePoint Intranet for Contract Management

Topics: SharePoint Business Process Automation

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At Dock, we understand that contracts can be the lifeline of a company. If you’re using the standard SharePoint intranet portal for document management, you might run into some issues with customizing your workflow for specifically contract workflow management.

Are you asking yourself if the contract has been approved from legal review? How can your SharePoint site delegate it to the right paralegal?

Have you set it up to see who is working on what contract? Can you search for contract renewals, setup alerts when contracts are ending, and have electronic signatures tracked? With SharePoint and Dock 365, our development team can make this process easier to set up and maintain.

SharePoint with Dock 365 provides a full-featured contract solution for your company intranet portal by streamlining your entire contract process to create unique workflows that work with your business needs. Your legal team will be able to rely on your contract management tracking system. We can work with you to develop ways to manage contract creation, send automatic notification alerts for deadlines, renewals and expiring contracts, as well as finding contract details that are critical for your business transactions.

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Nine contract management must-haves:

  1. Requests for Contracts – Make it a priority to know which contracts come first by getting request approvals by department and contract amount.
  2. Searching and Reporting – With document management you can find what you need quickly and generate real-time reporting.
  3. Document storage – Your contracts and supporting documents in one location on your intranet.
  4. Create, Review and Approve – Manage contract workflows from simple to complex documents. Set up processes for the right experts are matched up with the right contracts with custom workflows.
  5. Electronic Signatures – Allow clients to utilize the eSignature platform to move the process along quickly by integrating this into the workflow process.
  6. Priority Management – Manage your contractual responsibilities and important dates with auto-reminders and audit trails.
  7. Synchronized Dashboards – See your contract lifecycle in real-time for updates, metadata, workflow history and visual reports.
  8. Negotiate – Track the changes in the negotiation process with version control, track changes and redlining items within your contract lifecycle.
  9. Renewal Reminders – Receive automatic reminders for unused contracts and renegotiate as needed. This can be setup for various renewal reminder needs.

Important points about building your contract management system

It’s time to take your contract management seriously. It’s more than a document library with some metadata attached to it for searching your company intranet portal. The standard Microsoft SharePoint intranet is strong but it’s missing some basic processes that Dock can help your company develop so that you can take the guesswork out of your day for a true contract management system. We recommend setting up milestones, schedules and due dates as well as guidelines to ensure payment of service just to get started.  

When storing your contract documents in your SharePoint site, it’s common for businesses to use spreadsheets to track these items. We recommend centrally storing the information and setting up your system to email you in advance to alert you of upcoming due dates. Set up email alerts and notifications when deadlines are approaching and contracts are expiring versus constantly referring to a static spreadsheet. It’s critical to know you’ve acted when these dates are approaching. By adding an audit history to your workflow, it will ensure you have a record of your tasks for better reporting. In addition, we can develop processes for customer-facing contracts, vendor purchases, subcontracts for vendors or partners as well as any additional customization you require.

Click the below link to schedule your free Contract Management Demo.

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