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.
In recent years, enterprises and various organizations have devoted more time and attention toward strategic contract lifecycle management (CLM) initiatives in efforts to drive business growth and profits. With the objective of reducing contract lifecycle times, many have redirected CLM processes from manual systems (i.e., physical storage and shared drives) to online CLM software solutions. In this way, companies can get the most out of their CLM with contract automation capabilities that can improve workplace productivity, compliance, and risk management all while shortening contract lifecycles.
We recently covered the second stage of contract lifecycle management – the contract authoring stage. Today, we will discuss the third stage of contract lifecycle management, the contract approval stage.
The technological advancements available today in contract management have made it entirely possible to automate and create more efficient pathways for daily contract-related operations. If your company fails to use the most current technology for your contract management processes, you're only setting yourself behind and making yourself less competitive. Have the edge with up-to-date technology that allows for an optimal contract management system.
In contract lifecycle management, following compliance policies is critical to managing risk and maintaining accuracy in your contract lifecycle management processes. Today’s technological advancements present a new set of challenges to contract management compared to traditional management methods. Contract management is a meticulous process comprised of several stages that rely on the actions of multiple people or parties.
As part of collaborating with people who are important for your business, you will have to share content within and outside your organization. The chances for a security breach or content reaching unwanted or unauthorized people are high in that case. What you can do is to set up a strong business and compliance policy for your organization and ensure that it is followed and obliged in all conditions. You can use Sensitivity Labels in Microsoft 365 to make your content available for sharing and collaboration, without leaving any room for security issues. The main cause of these sensitivity labels is to let people share and collaborate on documents without losing the ease of collaboration, at the same time not limiting on security. Get started with these Microsoft Information Protection features today.
Contract management is a continuous process, starting from the creation of contracts to signing them and closing the deal. In most cases after the deal has been closed the contract documents are put away to storage and forgotten about it until some issue occur or contract period expires. But what most managers forget is that the secret behind a successful contract management system is the proper tracking and monitoring of the contracts, even after the deal has been signed.
Safety in workplace should be a primary concern for every organizations. There are many factors in a workplace that could be overlooked, which could inevitably result in harming the employees. There have been many such incidents nationally and internationally. Taking into consideration these mishaps and the well being of the employees, there are certain industrial standards to follow, in order to ensure safety. Entire teams spend hours of works into ensuring safety of the workers by in depth learning of the environments, careful planning and coordination, and sheer perseverance.
Businesses need to think and act smart to stay competitive and keep growing at a steady pace. As the market conditions change, it is essential to bring changes to the way you do business and process work to achieve the desired efficiency. Embracing the latest business technologies to increase productivity and efficiency throughout your business process is crucial. The age of on-prem software solutions is long gone, it is the online/cloud solutions that are taking businesses to new heights today. In this blog, we will tell you about 10 reasons why online contract management is beneficial for businesses.
In the year 2021, businesses need to act smarter and cautiously to stay ahead with their objectives. One practical way to achieve this is by adopting technology solutions. Contract Management is one area modern businesses need to improve to find themselves time and resources to stay focused on other productive areas of work. With Contract Management Software, you can make all your contract management related processes, workflows, and activities streamlined. By automating some of the common and regular activities, your team can handle contracts much easier and take the right decisions quickly. In this blog, we will explain 10 misconceptions of businesses about implementing contract management software in 2021.