Contract Management

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Contract Management Software

From insurance policies to vendor agreements, contracts take many forms. They establish partnership and accountability between parties and often require considerable negotiation before being finalized. The time it takes to approve a contract can be as significant as the content of the contract itself. Slow, manual contract processing reflects negatively on an organizations ability to provide excellent service.

 

An automated, digital contract management software reduces the administrative burden on employees and allows legal, financial, sales and other professionals to make better use of their time and expertise. The technology behind automation transforms passive documents into active drivers of the contracting process, increasing productivity without requiring extra staff.

Challenges

“By resisting automation, organizations limit their visibility into enterprise contracts, while exposing themselves to risks in the form of missed cost savings, poor compliance, and regulatory backlash”

 

Aberdeen Group Study: Assessing the Value of Contract Automation

The following are some of the main challenges resulting from poor contract management:

 

  • Missing or lost contracts.
  • Inconsistent contract versions.
  • Limited or no visibility regarding contract obligations.
  • Missing contractual milestones or deadlines.
  • Inability to take advantage of early payment discounts.

 

“Workflow inefficiency results from not knowing that something must be done or by whom. Time spent creating contracts and resolving disputes incurs administrative costs, opportunity costs, and a perception of poor customer service.”

 

PriceWaterhouseCoopers Study: Contract Management: Control Value and Minimize Risks

Solution

Intellera has the expertise needed to quickly provide solutions for any company seeking to streamline and automate Contract Management processes.

 

Intellera’s team of experts will help you get control over the many steps involved in contract management:

 

  • Contract requests and templates.
  • Review and approval processes.
  • Electronic signatures.
  • Contract review and amendment.
  • Records Management.

Benefits

Automation technology is multi-functional and can lead to many different benefits including:

 

Improved accountability over stipulations and conditions

With automated contract management software, you can ensure that all changes to contracts are tracked with a full, easy to read history of changes. Workflows can be triggered for approvals on specific contract changes.

 

Centralized control over contracts

All contracts are stored in a centralized, secure repository that can be easily searched and accessed via desktop, web or mobile interfaces. Templates can be defined as starting points for new contracts with standard clauses.

 

Improved security with version tracking and role-based access

Full audit trail on all user activities enables a superior level of security over corporate information. Contract versions can be managed with full history and roll-back capability.

 

Intellera’s expertise in Contract Management will save your company time, reduce costs and improve efficiency.

Contact us now to get started with your personalized Process Efficiency Assessment!

Case Studies