Dock 365 is committed to providing you with tools and information you can use to take your business to the next level. At Dock 365, we believe that success and knowledge go hand in hand. Our goal is to ensure that all companies have access to information they can use to be more efficient and effective. Make sure to follow and subscribe to our blog for insights into the latest business solutions, trends, and practices.
Tracking changes, or more commonly known as “redlining”, is a step within contract lifecycle management that refers to the editing of contract terms. Tracking changes often times requires several individuals and/or legal teams to comment on, review, and make suggestions or adjustments to the most current iteration of contract terms. The redlining step is widely accepted as the most time-consuming stage within a contract’s lifecycle, as this stage can take several months or years to complete. This is because organizations typically require the input from several departments and parties during the contract review. During the redlining step, several phases occur as the document is edited in rounds, where various parties take the document, edit it, then pass it to the other parties multiple times as the document undergoes several revisions.
You are in for an important client meeting and you need the latest version of a critical project report for the meeting. You start searching for it in the likely folders and even made use of the search box to just not find the required document for the presentation.